Hor Kew Corporation Income Statement

Financials in millions SGD. Fiscal year is January - December.

Millions SGD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	81.09	82.87	104.79	76.46	56.81	49.71
Revenue Growth (YoY)	-9.39%	-20.91%	37.05%	34.58%	14.29%	-22.79%
Cost of Revenue	42.09	49.69	82.11	60.56	43.53	39.78
Gross Profit	39	33.18	22.68	15.9	13.28	9.93
Selling, General & Admin	14.11	11.57	12.1	11.95	9.58	8.13
Operating Expenses	22.94	19.85	16.56	15.56	12.45	14.03
Operating Income	16.06	13.34	6.12	0.34	0.83	-4.1
Interest Expense	-1.83	-2.27	-2.79	-1.76	-1.01	-1.77
Interest & Investment Income	0.69	0.71	0.67	0.25	0.15	0.23
Currency Exchange Gain (Loss)	-0.21	0.39	-	-	-	1.63
Other Non Operating Income (Expenses)	3.16	3.01	2.99	2.6	2.51	2.43
EBT Excluding Unusual Items	17.87	15.17	6.99	1.44	2.48	-1.58
Gain (Loss) on Sale of Assets	0.52	0.52	0.04	0.82	0.1	0.06
Asset Writedown	0.32	0.32	0.55	0.22	0.56	0.14
Other Unusual Items	-	-	-	0.33	0.82	1.76
Pretax Income	18.71	16	7.58	2.81	3.96	0.37
Income Tax Expense	3.78	2.28	0.17	1.09	-0.06	0.04
Net Income	14.92	13.72	7.41	1.72	4.02	0.33
Net Income to Common	14.92	13.72	7.41	1.72	4.02	0.33
Net Income Growth	68.16%	85.13%	330.68%	-57.21%	1111.45%	-63.11%
Shares Outstanding (Basic)	52	52	52	52	52	52
Shares Outstanding (Diluted)	52	52	52	52	52	52
Shares Change (YoY)	0.01%	-	-	-	-	-
EPS (Basic)	0.29	0.26	0.14	0.03	0.08	0.01
EPS (Diluted)	0.29	0.26	0.14	0.03	0.08	0.01
EPS Growth	68.15%	85.13%	330.69%	-57.18%	1110.77%	-63.11%
Free Cash Flow	21.97	19.2	12.85	2.18	6.15	0.7
Free Cash Flow Per Share	0.42	0.37	0.25	0.04	0.12	0.01
Dividend Per Share	0.030	0.030	-	-	-	-
Gross Margin	48.09%	40.04%	21.64%	20.79%	23.37%	19.98%
Operating Margin	19.80%	16.09%	5.84%	0.45%	1.47%	-8.25%
Profit Margin	18.40%	16.56%	7.07%	2.25%	7.08%	0.67%
Free Cash Flow Margin	27.10%	23.17%	12.27%	2.85%	10.82%	1.41%
EBITDA	21.44	17.34	12.4	6.59	6.64	1.11
EBITDA Margin	26.44%	20.93%	11.83%	8.62%	11.69%	2.23%
D&A For EBITDA	5.39	4.01	6.28	6.25	5.81	5.21
EBIT	16.06	13.34	6.12	0.34	0.83	-4.1
EBIT Margin	19.80%	16.09%	5.84%	0.45%	1.47%	-8.25%
Effective Tax Rate	20.22%	14.23%	2.23%	38.84%	-	10.99%

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.