NCI Income Statement

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

Millions HKD. 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	216.65	235.67	174.2	347.45	240.54	182.58
Revenue Growth (YoY)	23.41%	35.28%	-49.86%	44.45%	31.74%	-
Cost of Revenue	157.76	186.22	139.15	305.62	217.94	170.93
Gross Profit	58.88	49.44	35.05	41.83	22.59	11.65
Selling, General & Admin	39.03	30.59	21.25	19.56	15.63	15.31
Amortization of Goodwill & Intangibles	2.72	1.48	0.11	0.14	-	-
Operating Expenses	45.54	37.87	26	22.9	18.12	15.31
Operating Income	13.34	11.57	9.05	18.94	4.47	-3.65
Interest Expense	-2.97	-3.76	-5.76	-6.13	-2.49	-2.87
Interest & Investment Income	0.03	0.03	0.09	0	0	-
Currency Exchange Gain (Loss)	-	-	-0.17	-0.01	-0.01	-0.02
Other Non Operating Income (Expenses)	0.25	1.3	2.53	2.59	5.22	3.34
Pretax Income	10.66	9.15	5.74	15.38	7.19	-3.19
Income Tax Expense	1.97	1.09	1.33	2.98	1.74	0.13
Net Income	8.69	8.06	4.41	12.4	5.45	-3.33
Net Income to Common	8.69	8.06	4.41	12.4	5.45	-3.33
Net Income Growth	-21.06%	82.65%	-64.40%	127.51%	-	-
Shares Outstanding (Basic)	4	4	4	4	4	4
Shares Outstanding (Diluted)	4	4	4	4	4	4
Shares Change (YoY)	10.14%	8.91%	-	-	-	-
EPS (Basic)	2.14	2.06	1.23	3.44	1.51	-0.92
EPS (Diluted)	2.14	2.06	1.23	3.44	1.51	-0.92
EPS Growth	-28.34%	67.70%	-64.40%	127.51%	-	-
Free Cash Flow	18.64	-3.72	-50.29	-42.83	10.19	6.17
Free Cash Flow Per Share	4.59	-0.95	-13.97	-11.90	2.83	1.71
Gross Margin	27.18%	20.98%	20.12%	12.04%	9.39%	6.38%
Operating Margin	6.16%	4.91%	5.19%	5.45%	1.86%	-2.00%
Profit Margin	4.01%	3.42%	2.53%	3.57%	2.27%	-1.82%
Free Cash Flow Margin	8.60%	-1.58%	-28.87%	-12.33%	4.24%	3.38%
EBITDA	17.3	13.74	9.08	19.08	4.61	-3.47
EBITDA Margin	7.98%	5.83%	5.21%	5.49%	1.92%	-1.90%
D&A For EBITDA	3.95	2.17	0.03	0.15	0.14	0.18
EBIT	13.34	11.57	9.05	18.94	4.47	-3.65
EBIT Margin	6.16%	4.91%	5.19%	5.45%	1.86%	-2.00%
Effective Tax Rate	18.50%	11.87%	23.09%	19.38%	24.22%	-

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

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