Tiong Seng Holdings Limited (SGX:BFI)

Tiong Seng Holdings Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Revenue	300.92	536.23	475.05	355.74	293.39
Other Revenue	1.48	2.59	1.59	0.92	1.54
Revenue	302.39	538.82	476.64	356.66	294.93
Revenue Growth (YoY)	-43.88%	13.05%	33.64%	20.93%	24.15%
Cost of Revenue	305.97	509.46	452.52	399.23	314.34
Gross Profit	-3.58	29.36	24.12	-42.57	-19.42
Selling, General & Admin	16.82	16.81	18.81	20.52	21.06
Other Operating Expenses	14.52	12.57	9.62	8.42	6.65
Operating Expenses	37	35.95	33.35	40.84	34.89
Operating Income	-40.58	-6.59	-9.23	-83.41	-54.31
Interest Expense	-4.39	-5.54	-6.38	-4.28	-3.08
Interest & Investment Income	0.33	0.83	1.54	0.48	0.31
Earnings From Equity Investments	0.16	2.75	0.86	4.85	1.88
Currency Exchange Gain (Loss)	-1.2	1.33	-0.71	-0.15	0.78
Other Non Operating Income (Expenses)	-1.7	2.17	0.95	-1.82	-0.5
EBT Excluding Unusual Items	-47.39	-5.05	-12.97	-84.33	-54.92
Impairment of Goodwill	-	-	-0.76	-0.22	-
Gain (Loss) on Sale of Investments	-	4.02	-	-2.62	-2.68
Gain (Loss) on Sale of Assets	0.42	6.83	0.28	0.92	2.2
Asset Writedown	-	-	-0.03	-0.01	-0
Other Unusual Items	13.34	-	0.32	0.52	3.57
Pretax Income	-33.63	5.81	-13.15	-85.74	-51.83
Income Tax Expense	0.87	2.98	0.45	-0.7	0.91
Earnings From Continuing Operations	-34.51	2.83	-13.6	-85.04	-52.74
Minority Interest in Earnings	1.17	0.03	1.48	0.34	2.54
Net Income	-33.34	2.86	-12.12	-84.7	-50.2
Net Income to Common	-33.34	2.86	-12.12	-84.7	-50.2
Shares Outstanding (Basic)	461	441	441	441	441
Shares Outstanding (Diluted)	461	461	441	441	441
Shares Change (YoY)	-	4.53%	-0.06%	-0.01%	-0.30%
EPS (Basic)	-0.07	0.01	-0.03	-0.19	-0.11
EPS (Diluted)	-0.07	0.01	-0.03	-0.19	-0.11
Free Cash Flow	-36.62	-52.45	44.15	-22.71	-5.95
Free Cash Flow Per Share	-0.08	-0.11	0.10	-0.05	-0.01
Dividend Per Share	-	-	-	-	0.003
Gross Margin	-1.18%	5.45%	5.06%	-11.94%	-6.58%
Operating Margin	-13.42%	-1.22%	-1.94%	-23.39%	-18.41%
Profit Margin	-11.03%	0.53%	-2.54%	-23.75%	-17.02%
Free Cash Flow Margin	-12.11%	-9.74%	9.26%	-6.37%	-2.02%
EBITDA	-29.36	-3.43	-5.74	-77.46	-47.95
EBITDA Margin	-9.71%	-0.64%	-1.20%	-21.72%	-16.26%
D&A For EBITDA	11.22	3.16	3.49	5.95	6.36
EBIT	-40.58	-6.59	-9.23	-83.41	-54.31
EBIT Margin	-13.42%	-1.22%	-1.94%	-23.39%	-18.41%
Effective Tax Rate	-	51.25%	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.