Singapore · Delayed Price · Currency is SGD Jardine Matheson Southeast Asia Earnings Call Transcripts
Fiscal Year 2026
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Underlying profit fell 11% year-on-year to $473 million, with strong Vietnam growth offset by declines in Indonesia and Singapore. Portfolio optimization released $334 million, enabling a special dividend of $0.73 per share and a reduction in corporate net debt to $286 million.
Fiscal Year 2025
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Underlying profit rose 1% to $1.11 billion in 2025, with strong TSR and improved balance sheet despite revenue decline. Indonesia faced headwinds, but Vietnam and Singapore delivered growth, and major acquisitions and divestments supported capital management.
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Underlying profit for H1 2025 rose 6% year-over-year to $529 million, with strong contributions from Vietnam and Singapore offsetting weaker results in Indonesia. Interim dividend was maintained at $0.28 per share, and the group continued to strengthen its balance sheet and pursue strategic investments.
Fiscal Year 2024
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Underlying profit for 2024 was $1.1 billion, down 5% year-over-year, with resilient performance despite FX headwinds. Portfolio reorganization, debt reduction, and capital recycling supported growth, while ESG progress and strong segment results in Indonesia and Vietnam were highlighted.
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Underlying profit fell 14% year-over-year to SGD 500 million, mainly due to FX impacts and lower earnings, but interim dividend was maintained. Indonesia and Vietnam segments saw declines, while new EV initiatives and capital reallocation efforts continued.