Raffles Education Income Statement

Financials in millions SGD. Fiscal year is July - June.

Millions SGD. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Operating Revenue	111.79	111.71	112.47	110.89	105.37	97.73
Other Revenue	2.57	2.57	0.97	-	-	-
Revenue	114.36	114.28	113.44	110.89	105.37	97.73
Revenue Growth (YoY)	0.99%	0.74%	2.30%	5.24%	7.82%	-2.73%
Cost of Revenue	48.48	48.13	42.33	42.5	43.8	41.55
Gross Profit	65.88	66.15	71.11	68.39	61.58	56.18
Other Operating Expenses	38.06	37.69	36.74	37.65	44.61	46.56
Operating Expenses	57	56.67	54.99	57.76	64.57	64.76
Operating Income	8.88	9.48	16.12	10.63	-3	-8.59
Interest Expense	-15.71	-16.64	-20.29	-19.94	-19.68	-17.92
Interest & Investment Income	0.11	0.16	2.42	1.43	0.23	1.34
Earnings From Equity Investments	-0.51	-0.18	-0.85	-0.57	4.31	4.69
Currency Exchange Gain (Loss)	17.24	24.14	-5.46	15.14	-6.67	1.79
Other Non Operating Income (Expenses)	-	-	-	-	0.03	1.63
EBT Excluding Unusual Items	10	16.96	-8.05	6.7	-24.77	-17.05
Gain (Loss) on Sale of Investments	-0.59	-0.59	-	0.52	-	1.43
Gain (Loss) on Sale of Assets	-1.35	-1.98	0.01	-3.56	35.23	28.28
Asset Writedown	-5.68	-5.66	-14.52	-5.57	11.62	13.84
Other Unusual Items	-	-	-	0.06	0.31	3.38
Pretax Income	2.38	8.74	-22.56	-1.86	22.39	29.88
Income Tax Expense	2.27	4.38	1.43	7.14	14.62	13.22
Earnings From Continuing Operations	0.11	4.36	-23.99	-9	7.77	16.66
Minority Interest in Earnings	3.2	3.34	4.73	3.69	1.84	-0.28
Net Income	3.31	7.7	-19.26	-5.31	9.61	16.39
Net Income to Common	3.31	7.7	-19.26	-5.31	9.61	16.39
Net Income Growth	-	-	-	-	-41.34%	-
Shares Outstanding (Basic)	1,405	1,399	1,386	1,379	1,379	1,379
Shares Outstanding (Diluted)	1,405	1,399	1,386	1,379	1,379	1,379
Shares Change (YoY)	2.30%	0.98%	0.48%	0.03%	-	-
EPS (Basic)	0.00	0.01	-0.01	-0.00	0.01	0.01
EPS (Diluted)	0.00	0.01	-0.01	-0.00	0.01	0.01
EPS Growth	-	-	-	-	-41.34%	-
Free Cash Flow	0.9	0.15	5.73	-12.07	-15.68	-13.04
Free Cash Flow Per Share	0.00	-	0.00	-0.01	-0.01	-0.01
Gross Margin	57.61%	57.89%	62.68%	61.67%	58.44%	57.48%
Operating Margin	7.76%	8.30%	14.21%	9.59%	-2.84%	-8.79%
Profit Margin	2.90%	6.73%	-16.98%	-4.78%	9.12%	16.77%
Free Cash Flow Margin	0.78%	0.13%	5.05%	-10.88%	-14.88%	-13.35%
EBITDA	23.44	24.28	30.85	27.97	15.22	7.7
EBITDA Margin	20.50%	21.25%	27.20%	25.22%	14.45%	7.88%
D&A For EBITDA	14.56	14.8	14.73	17.34	18.22	16.29
EBIT	8.88	9.48	16.12	10.63	-3	-8.59
EBIT Margin	7.76%	8.30%	14.21%	9.59%	-2.84%	-8.79%
Effective Tax Rate	95.26%	50.13%	-	-	65.29%	44.23%

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