Tuan Sing Holdings Income Statement

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

Millions SGD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	146	192.52	303.72	225.3	248.71
Revenue Growth (YoY)	-24.16%	-36.61%	34.81%	-9.41%	26.37%
Cost of Revenue	71.78	116.29	213.75	138.43	178.59
Gross Profit	74.22	76.23	89.97	86.87	70.12
Selling, General & Admin	57.04	59.14	65.97	65.01	62.13
Other Operating Expenses	-0.75	-1.25	-1.06	5.13	1.05
Operating Expenses	56.28	57.93	64.92	70.14	63.28
Operating Income	17.94	18.3	25.05	16.73	6.85
Interest Expense	-60.12	-68.45	-66.12	-50.75	-42.66
Interest & Investment Income	3.51	5.18	6.17	4.53	2.36
Earnings From Equity Investments	27.4	22.5	29.33	29.92	28.33
Currency Exchange Gain (Loss)	-0.77	-1.99	-0.46	-	1.71
EBT Excluding Unusual Items	-12.05	-24.46	-6.02	0.43	-3.43
Gain (Loss) on Sale of Investments	0.11	-0.34	-1.34	-	-0.35
Gain (Loss) on Sale of Assets	-	18.49	-0.01	-	88.96
Asset Writedown	51.64	6.85	9.86	0.31	-3.34
Other Unusual Items	0	-1.71	0.17	-	2.28
Pretax Income	39.7	-1.17	2.66	0.73	84.12
Income Tax Expense	7.49	-2.41	-2.75	-2.12	2.3
Earnings From Continuing Operations	32.21	1.24	5.41	2.85	81.82
Minority Interest in Earnings	-0.07	1.1	-0.57	1.74	1.84
Net Income	32.14	2.34	4.84	4.59	83.66
Net Income to Common	32.14	2.34	4.84	4.59	83.66
Net Income Growth	1271.29%	-51.53%	5.34%	-94.51%	41.78%
Shares Outstanding (Basic)	1,247	1,241	1,229	1,210	1,195
Shares Outstanding (Diluted)	1,247	1,241	1,229	1,210	1,195
Shares Change (YoY)	0.48%	0.99%	1.52%	1.27%	0.70%
EPS (Basic)	0.03	0.00	0.00	0.00	0.07
EPS (Diluted)	0.03	0.00	0.00	0.00	0.07
EPS Growth	1264.90%	-52.01%	3.77%	-94.58%	40.79%
Free Cash Flow	50.21	-45.63	136.43	52.9	74.15
Free Cash Flow Per Share	0.04	-0.04	0.11	0.04	0.06
Dividend Per Share	0.007	0.007	0.007	0.007	0.007
Dividend Growth	-	-	-	-	16.67%
Gross Margin	50.83%	39.60%	29.62%	38.56%	28.19%
Operating Margin	12.29%	9.50%	8.25%	7.42%	2.75%
Profit Margin	22.02%	1.22%	1.59%	2.04%	33.64%
Free Cash Flow Margin	34.39%	-23.70%	44.92%	23.48%	29.81%
EBITDA	25.5	25.03	31.31	23.41	16.27
EBITDA Margin	17.46%	13.00%	10.31%	10.39%	6.54%
D&A For EBITDA	7.56	6.73	6.26	6.69	9.42
EBIT	17.94	18.3	25.05	16.73	6.85
EBIT Margin	12.29%	9.50%	8.25%	7.42%	2.75%
Effective Tax Rate	18.87%	-	-	-	2.73%

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