Union Gas 1F2
Financials
Union Gas Holdings Annual Report 2025
Explore the statements
17 tablesConsolidated Statement of Profit or Loss and Other Comprehensive Income
21 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Revenue | |||
| Revenue$’000 | 137,947 | 125,546 | PDF p. 76 |
| Cost of sales | |||
| Cost of sales$’000 | (89,614) | (78,137) | PDF p. 76 |
| Gross profit | |||
| Gross profit$’000 | 48,333 | 47,409 | PDF p. 76 |
| Other income and gains | |||
| Other income and gains$’000 | 1,888 | 2,172 | PDF p. 76 |
| Marketing and distribution costs | |||
| Marketing and distribution costs$’000 | (22,561) | (20,535) | PDF p. 76 |
| Administrative expenses | |||
| Administrative expenses$’000 | (13,108) | (12,359) | PDF p. 76 |
| Finance costs | |||
| Finance costs$’000 | (1,446) | (1,237) | PDF p. 76 |
| Other expenses | |||
| Other expenses$’000 | (319) | (143) | PDF p. 76 |
| Profit before tax | |||
| Profit before tax$’000 | 12,787 | 15,307 | PDF p. 76 |
| Income tax expense | |||
| Income tax expense$’000 | (2,265) | (2,809) | PDF p. 76 |
| Profit for the year | |||
| Profit for the year$’000 | 10,522 | 12,498 | PDF p. 76 |
| Other comprehensive (loss)/income | |||
| Changes in fair value of derivatives$’000 | (5,347) | 1,236 | PDF p. 76 |
| Exchange differences on translating foreign operations$’000 | (55) | (1) | PDF p. 76 |
| Other comprehensive (loss)/income for the year$’000 | (5,402) | 1,235 | PDF p. 76 |
| Total comprehensive income for the year$’000 | 5,120 | 13,733 | PDF p. 76 |
| Profit/(loss) attributable to | |||
| Owners of the Company$’000 | 10,536 | 12,502 | PDF p. 76 |
| Non-controlling interests$’000 | (14) | (4) | PDF p. 76 |
| Subtotal$’000 | 10,522 | 12,498 | PDF p. 76 |
| Total comprehensive income/(loss) attributable to | |||
| Owners of the Company$’000 | 5,136 | 13,737 | PDF p. 76 |
| Non-controlling interests$’000 | (16) | (4) | PDF p. 76 |
| Subtotal$’000 | 5,120 | 13,733 | PDF p. 76 |
Definitions & sources
Original report: PDF p. 76 ↗
Source table is consolidated Group only.
Earnings per share
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Basic and diluted earnings per shareCents | 3.32 | 3.93 | PDF p. 76 |
Definitions & sources
Original report: PDF p. 76 ↗
Printed unit is cents per share.
Statements of Financial Position
40 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipment$’000 | 45,608 | 42,514 | 13,298 | 11,214 | PDF p. 77 |
| Right-of-use assets$’000 | 40,561 | 24,563 | 6,171 | 6,198 | PDF p. 77 |
| Investment property$’000 | 90 | 180 | – | – | PDF p. 77 |
| Goodwill$’000 | 1,906 | 1,906 | – | – | PDF p. 77 |
| Intangible assets$’000 | 772 | 1,075 | – | – | PDF p. 77 |
| Investments in subsidiaries$’000 | – | – | 110,598 | 110,598 | PDF p. 77 |
| Contract costs, non-current$’000 | 1,145 | 1,118 | – | – | PDF p. 77 |
| Trade and other receivables, non-current$’000 | 3 | 9 | – | – | PDF p. 77 |
| Deferred tax assets$’000 | 59 | 32 | – | – | PDF p. 77 |
| Other non-financial assets, non-current$’000 | 19,200 | 19,810 | – | – | PDF p. 77 |
| Total non-current assets$’000 | 109,344 | 91,207 | 130,067 | 128,010 | PDF p. 77 |
| Current assets | |||||
| Inventories$’000 | 2,947 | 2,886 | – | – | PDF p. 77 |
| Contract costs, current$’000 | 746 | 894 | – | – | PDF p. 77 |
| Trade and other receivables, current$’000 | 32,425 | 26,493 | 2,960 | 2,258 | PDF p. 77 |
| Other non-financial assets, current$’000 | 15,413 | 13,749 | 221 | 149 | PDF p. 77 |
| Derivative financial assets$’000 | – | 2,294 | – | – | PDF p. 77 |
| Cash and cash equivalents$’000 | 14,826 | 12,571 | 2,126 | 3,129 | PDF p. 77 |
| Total current assets$’000 | 66,357 | 58,887 | 5,307 | 5,536 | PDF p. 77 |
| Assets | |||||
| Total assets$’000 | 175,701 | 150,094 | 135,374 | 133,546 | PDF p. 77 |
| Equity | |||||
| Share capital$’000 | 99,122 | 99,122 | 99,122 | 99,122 | PDF p. 77 |
| Treasury shares$’000 | (88) | (88) | (88) | (88) | PDF p. 77 |
| Retained earnings$’000 | 60,201 | 54,365 | 20,906 | 18,461 | PDF p. 77 |
| Other reserves$’000 | (81,271) | (75,871) | – | – | PDF p. 77 |
| Equity attributable to owners of the Company$’000 | 77,964 | 77,528 | 119,940 | 117,495 | PDF p. 77 |
| Non-controlling interests$’000 | 22 | 38 | – | – | PDF p. 77 |
| Total equity$’000 | 77,986 | 77,566 | 119,940 | 117,495 | PDF p. 77 |
| Non-current liabilities | |||||
| Provisions$’000 | 2,881 | 1,881 | 105 | 105 | PDF p. 77 |
| Deferred tax liabilities$’000 | 2,869 | 3,305 | 236 | 98 | PDF p. 77 |
| Trade and other payables, non-current$’000 | 77 | 84 | – | – | PDF p. 77 |
| Bank borrowings, non-current$’000 | 6,179 | 9,380 | 6,178 | 6,673 | PDF p. 77 |
| Lease liabilities, non-current$’000 | 31,734 | 16,338 | 6,121 | 6,120 | PDF p. 77 |
| Total non-current liabilities$’000 | 43,740 | 30,988 | 12,640 | 12,996 | PDF p. 77 |
| Current liabilities | |||||
| Income tax payable$’000 | 3,112 | 2,860 | 79 | 84 | PDF p. 77 |
| Trade and other payables, current$’000 | 35,156 | 31,362 | 2,036 | 2,062 | PDF p. 77 |
| Bank borrowings, current$’000 | 4,170 | 3,772 | 463 | 705 | PDF p. 77 |
| Derivative financial liabilities$’000 | 3,053 | – | – | – | PDF p. 77 |
| Lease liabilities, current$’000 | 8,484 | 3,546 | 216 | 204 | PDF p. 77 |
| Total current liabilities$’000 | 53,975 | 41,540 | 2,794 | 3,055 | PDF p. 77 |
| Liabilities | |||||
| Total liabilities$’000 | 97,715 | 72,528 | 15,434 | 16,051 | PDF p. 77 |
| Equity and liabilities | |||||
| Total equity and liabilities$’000 | 175,701 | 150,094 | 135,374 | 133,546 | PDF p. 77 |
Definitions & sources
Original report: PDF p. 77 ↗
Group and Company columns are distinct as printed.
Group Statements of Changes in Equity — FY2025
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupShare capital | 2025GroupTreasury shares | 2025GroupRetained earnings | 2025GroupMerger reserve | 2025GroupCapital reserve | 2025GroupFair value reserve | 2025GroupTranslation reserve | 2025GroupTotal other reserves | 2025GroupSub-total | 2025GroupNon-controlling interests | 2025GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group changes in equity | ||||||||||||
| At 1 January 2025$’000 | 99,122 | (88) | 54,365 | (81,482) | 3,318 | 2,294 | (1) | (75,871) | 77,528 | 38 | 77,566 | PDF p. 78 |
| Total comprehensive income/(loss) for the year$’000 | – | – | 10,536 | – | – | (5,347) | (53) | (5,400) | 5,136 | (16) | 5,120 | PDF p. 78 |
| Dividends paid (note 12)$’000 | – | – | (4,700) | – | – | – | – | – | (4,700) | – | (4,700) | PDF p. 78 |
| At 31 December 2025$’000 | 99,122 | (88) | 60,201 | (81,482) | 3,318 | (3,053) | (54) | (81,271) | 77,964 | 22 | 77,986 | PDF p. 78 |
Definitions & sources
Original report: PDF p. 78 ↗
Year is the movement period; opening/closing dates are preserved in original row labels.
Group Statements of Changes in Equity — FY2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupShare capital | 2024GroupTreasury shares | 2024GroupRetained earnings | 2024GroupMerger reserve | 2024GroupCapital reserve | 2024GroupFair value reserve | 2024GroupTranslation reserve | 2024GroupTotal other reserves | 2024GroupSub-total | 2024GroupNon-controlling interests | 2024GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group changes in equity | ||||||||||||
| At 1 January 2024$’000 | 99,122 | – | 46,563 | (81,482) | 3,318 | 1,058 | – | (77,106) | 68,579 | – | 68,579 | PDF p. 78 |
| Total comprehensive income/(loss) for the year$’000 | – | – | 12,502 | – | – | 1,236 | (1) | 1,235 | 13,737 | (4) | 13,733 | PDF p. 78 |
| Purchase of treasury shares (note 26)$’000 | – | (88) | – | – | – | – | – | – | (88) | – | (88) | PDF p. 78 |
| Dividends paid (note 12)$’000 | – | – | (4,700) | – | – | – | – | – | (4,700) | – | (4,700) | PDF p. 78 |
| Incorporation of subsidiary$’000 | – | – | – | – | – | – | – | – | – | 42 | 42 | PDF p. 78 |
| At 31 December 2024$’000 | 99,122 | (88) | 54,365 | (81,482) | 3,318 | 2,294 | (1) | (75,871) | 77,528 | 38 | 77,566 | PDF p. 78 |
Definitions & sources
Original report: PDF p. 78 ↗
Year is the movement period; opening/closing dates are preserved in original row labels.
Company Statements of Changes in Equity — FY2025
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025CompanyShare capital | 2025CompanyTreasury shares | 2025CompanyRetained earnings | 2025CompanyTotal equity | Source |
|---|---|---|---|---|---|
| Company changes in equity | |||||
| At 1 January 2025$’000 | 99,122 | (88) | 18,461 | 117,495 | PDF p. 79 |
| Total comprehensive income for the year$’000 | – | – | 7,145 | 7,145 | PDF p. 79 |
| Dividends paid (note 12)$’000 | – | – | (4,700) | (4,700) | PDF p. 79 |
| At 31 December 2025$’000 | 99,122 | (88) | 20,906 | 119,940 | PDF p. 79 |
Definitions & sources
Original report: PDF p. 79 ↗
Company Statements of Changes in Equity — FY2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024CompanyShare capital | 2024CompanyTreasury shares | 2024CompanyRetained earnings | 2024CompanyTotal equity | Source |
|---|---|---|---|---|---|
| Company changes in equity | |||||
| At 1 January 2024$’000 | 99,122 | – | 13,712 | 112,834 | PDF p. 79 |
| Total comprehensive income for the year$’000 | – | – | 9,449 | 9,449 | PDF p. 79 |
| Purchase of treasury shares (note 26)$’000 | – | (88) | – | (88) | PDF p. 79 |
| Dividends paid (note 12)$’000 | – | – | (4,700) | (4,700) | PDF p. 79 |
| At 31 December 2024$’000 | 99,122 | (88) | 18,461 | 117,495 | PDF p. 79 |
Definitions & sources
Original report: PDF p. 79 ↗
Consolidated Statement of Cash Flows
40 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before tax$’000 | 12,787 | 15,307 | PDF p. 80 |
| Allowance for impairment of trade and other receivables$’000 | 37 | 95 | PDF p. 80 |
| Amortisation of intangible assets$’000 | 362 | 313 | PDF p. 80 |
| Bad debts written off$’000 | 13 | 48 | PDF p. 80 |
| Depreciation of property, plant and equipment$’000 | 7,012 | 6,420 | PDF p. 80 |
| Depreciation of right-of-use assets$’000 | 7,624 | 5,765 | PDF p. 80 |
| Changes in fair value of derivative financial instruments, net$’000 | – | 120 | PDF p. 80 |
| Changes in fair value of investment property$’000 | 90 | – | PDF p. 80 |
| Gain on disposal of property, plant and equipment$’000 | (214) | (345) | PDF p. 80 |
| Gain on remeasurement of right-of-use assets$’000 | (7) | – | PDF p. 80 |
| Interest income$’000 | (153) | (156) | PDF p. 80 |
| Interest expense$’000 | 1,446 | 1,237 | PDF p. 80 |
| Reversal of impairment of intangible assets$’000 | (9) | (16) | PDF p. 80 |
| Reversal of provision for restoration costs$’000 | – | (3) | PDF p. 80 |
| Foreign currency translation adjustments$’000 | 146 | – | PDF p. 80 |
| Operating cash flows before changes in working capital$’000 | 29,134 | 28,785 | PDF p. 80 |
| Changes in working capital | |||
| Inventories$’000 | (61) | (232) | PDF p. 80 |
| Contract costs$’000 | 121 | 629 | PDF p. 80 |
| Trade and other receivables$’000 | (5,976) | (1,085) | PDF p. 80 |
| Other non-financial assets$’000 | (1,054) | (4,839) | PDF p. 80 |
| Trade and other payables$’000 | 3,787 | 1,601 | PDF p. 80 |
| Operating activities | |||
| Net cash flows from operations$’000 | 25,951 | 24,859 | PDF p. 80 |
| Income taxes paid$’000 | (2,476) | (2,507) | PDF p. 80 |
| Net cash flows from operating activities$’000 | 23,475 | 22,352 | PDF p. 80 |
| Investing activities | |||
| Acquisition of intangible assets$’000 | (50) | (591) | PDF p. 80 |
| Proceeds from disposal of property, plant and equipment$’000 | 496 | 1,264 | PDF p. 80 |
| Purchase of property, plant and equipment$’000 | (8,170) | (4,492) | PDF p. 80 |
| Purchase of right-of-use assets$’000 | (85) | (6,500) | PDF p. 80 |
| Interest income received$’000 | 153 | 156 | PDF p. 80 |
| Net cash flows used in investing activities$’000 | (7,656) | (10,163) | PDF p. 80 |
| Financing activities | |||
| Dividends paid$’000 | (4,700) | (4,700) | PDF p. 80 |
| Purchase of treasury shares$’000 | – | (88) | PDF p. 80 |
| Proceeds from bank borrowings$’000 | 11,683 | 5,000 | PDF p. 80 |
| Repayment of bank borrowings$’000 | (14,486) | (8,688) | PDF p. 80 |
| Repayment of lease liabilities$’000 | (4,615) | (3,149) | PDF p. 80 |
| Interest expenses paid$’000 | (1,446) | (1,237) | PDF p. 80 |
| Net cash flows used in financing activities$’000 | (13,564) | (12,862) | PDF p. 80 |
| Cash reconciliation | |||
| Net increase/(decrease) in cash and cash equivalents$’000 | 2,255 | (673) | PDF p. 80 |
| Cash and cash equivalents at beginning of year$’000 | 12,571 | 13,244 | PDF p. 80 |
| Cash and cash equivalents at end of year (note 24)$’000 | 14,826 | 12,571 | PDF p. 80 |
Definitions & sources
Original report: PDF p. 80 ↗
The statement contains operating, investing and financing activities.
Dividends — Rate per share
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group and Company | 2024Group and Company | Source |
|---|---|---|---|
| Dividends | |||
| Final tax exempt (1-tier) dividend in respect of previous reporting yearCents | 1.00 | 0.88 | PDF p. 99 |
| Interim tax exempt (1-tier) dividend in respect of current reporting yearCents | 0.48 | 0.60 | PDF p. 99 |
Definitions & sources
Original report: PDF p. 99 ↗
The proposed final dividend for FY2025 is disclosed separately and remains subject to shareholder approval.
Dividends — Amounts
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group and Company | 2024Group and Company | Source |
|---|---|---|---|
| Dividend amounts | |||
| Final tax exempt (1-tier) dividend in respect of previous reporting year$’000 | 3,175 | 2,794 | PDF p. 99 |
| Interim tax exempt (1-tier) dividend in respect of current reporting year$’000 | 1,525 | 1,906 | PDF p. 99 |
| Dividend amounts subtotal | |||
| Subtotal$’000 | 4,700 | 4,700 | PDF p. 99 |
Definitions & sources
Original report: PDF p. 99 ↗
The source line showing 4,700 and 4,700 is an unlabeled subtotal and is retained with an empty original_label.
Proposed final dividend
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group and Company | Source |
|---|---|---|
| Dividends | ||
| Proposed final dividend in respect of current reporting yearCents per ordinary share | 1.00 | PDF p. 99 |
Definitions & sources
Original report: PDF p. 99 ↗
Subject to approval by shareholders at forthcoming AGM; source says it has not been included as a liability.
Five-year financial highlights
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | 2022Group | 2021Group | Source |
|---|---|---|---|---|---|---|
| Original financial highlights chart; upper-left revenue chart | ||||||
| RevenueSGD million | 137.9 | 125.5 | 128.9 | 134.8 | 123.0 | PDF p. 13 |
| Original financial highlights chart; upper-left revenue chart; blue segment | ||||||
| Gas Fuel revenueSGD million | 106.7 | 109.8 | 112.6 | 109.5 | 104.2 | PDF p. 13 |
| Original financial highlights chart; upper-left revenue chart; grey segment | ||||||
| Liquid Fuel revenueSGD million | 30.3 | 15.6 | 16.3 | 25.3 | 18.8 | PDF p. 13 |
| Original financial highlights chart; upper-right revenue contribution chart; blue segment | ||||||
| Gas Fuel revenue contribution% | 77.4 | 87.5 | 87.3 | 81.2 | 84.7 | PDF p. 13 |
| Original financial highlights chart; upper-right revenue contribution chart; grey segment | ||||||
| Liquid Fuel revenue contribution% | 22.0 | 12.4 | 12.7 | 18.8 | 15.3 | PDF p. 13 |
| Original financial highlights chart; lower-left gross profit chart; bars | ||||||
| Gross profitSGD million | 48.3 | 47.4 | 48.8 | 35.2 | 41.6 | PDF p. 13 |
| Original financial highlights chart; lower-left gross profit chart; line markers | ||||||
| Gross profit margin% | 35.0% | 37.8% | 37.9% | 26.1% | 33.8% | PDF p. 13 |
| Original financial highlights chart; lower-right net profit chart | ||||||
| Net profitSGD million | 10.5 | 12.5 | 12.2 | 5.2 | 14.9 | PDF p. 13 |
Definitions & sources
Original report: PDF p. 13 ↗
Financial year ended 31 December. Original chart values retain source rounding and segment definitions. Gas Fuel includes LPG, NG and CNG; Liquid Fuel includes diesel and petrol; Other operations includes EV charging and industrial gases.
Only FY2024–2025 values are printed for Other operations; earlier years are not filled with zero.
Other operations revenue and contribution
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Original financial highlights chart; upper-left revenue chart; red segment; businesses introduced in FY2024 | |||
| Other operations revenueSGD million | 0.9 | 0.1 | PDF p. 13 |
| Original financial highlights chart; upper-right revenue contribution chart; red segment | |||
| Other operations revenue contribution% | 0.6 | 0.1 | PDF p. 13 |
Definitions & sources
Original report: PDF p. 13 ↗
Financial year ended 31 December. Original chart values retain source rounding and segment definitions. Gas Fuel includes LPG, NG and CNG; Liquid Fuel includes diesel and petrol; Other operations includes EV charging and industrial gases.
Only FY2024–2025 values are printed for Other operations; earlier years are not filled with zero.
EPS numerator and denominator — Note 11
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| EPS numerator and denominator — Note 11 | |||
| Profit attributable to owners of the CompanySGD thousand | 10,536 | 12,502 | PDF p. 98 |
| Weighted-average equity shares for basic and diluted EPSshares thousand | 317,545 | 317,615 | PDF p. 98 |
Definitions & sources
Original report: PDF p. 98 ↗
Cash and cash equivalents — Note 24
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Cash and cash equivalents — Note 24 | |||||
| Not restricted in useSGD thousand | 14,826 | 12,571 | 2,126 | 3,129 | PDF p. 113 |
Definitions & sources
Original report: PDF p. 113 ↗
Financing liabilities reconciliation — FY2024 Note 24B
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupBank borrowings | 2024GroupLease liabilities | Source |
|---|---|---|---|
| Financing liabilities reconciliation — FY2024 Note 24B | |||
| At 1 January 2024SGD thousand | 16,840 | 21,736 | PDF p. 113 |
| Cash flowsSGD thousand | (3,688) | (3,149) | PDF p. 113 |
| Non-cash changes (note 32)SGD thousand | – | 1,297 | PDF p. 113 |
| At 31 December 2024SGD thousand | 13,152 | 19,884 | PDF p. 113 |
Definitions & sources
Original report: PDF p. 113 ↗
Financing liabilities reconciliation — FY2025 Note 24B
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupBank borrowings | 2025GroupLease liabilities | Source |
|---|---|---|---|
| Financing liabilities reconciliation — FY2025 Note 24B | |||
| At 31 December 2024SGD thousand | 13,152 | 19,884 | PDF p. 113 |
| Cash flowsSGD thousand | (2,803) | (4,615) | PDF p. 113 |
| Non-cash changes (note 32)SGD thousand | – | 24,949 | PDF p. 113 |
| At 31 December 2025SGD thousand | 10,349 | 40,218 | PDF p. 113 |
Definitions & sources
Original report: PDF p. 113 ↗
The FY2025 opening row retains the printed date of 31 December 2024.
Where the money comes from
Segment information
By business
Group operating segments 17 lines
| Item / unit | 2025Group Gas fuel | 2025Group Liquid fuel | 2025Group Others | 2025Group Total | 2024Group Gas fuel | 2024Group Liquid fuel | 2024Group Others | 2024Group Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Revenue$'000 | 106,700 | 30,314 | 933 | 137,947 | 109,778 | 15,629 | 139 | 125,546 | PDF p. 93PDF p. 94 |
| Segment results | |||||||||
| Profit/(loss) before tax$'000 | 15,178 | (1,038) | (1,353) | 12,787 | 15,731 | 714 | (1,138) | 15,307 | PDF p. 93PDF p. 94 |
| Income tax (expense)/benefit$'000 | (2,162) | 81 | (184) | (2,265) | PDF p. 93 | ||||
| Profit/(loss) for the year$'000 | 13,016 | (957) | (1,537) | 10,522 | 13,232 | 624 | (1,358) | 12,498 | PDF p. 93PDF p. 94 |
| Other segment information | |||||||||
| Amortisation of intangible assets$'000 | (362) | – | – | (362) | (313) | – | – | (313) | PDF p. 93PDF p. 94 |
| Depreciation of property, plant and equipment$'000 | (6,504) | (277) | (231) | (7,012) | (6,300) | (93) | (27) | (6,420) | PDF p. 93PDF p. 94 |
| Depreciation of right-of-use assets$'000 | (3,804) | (3,802) | (18) | (7,624) | (4,090) | (1,665) | (10) | (5,765) | PDF p. 93PDF p. 94 |
| Finance costs$'000 | (979) | (467) | – | (1,446) | (1,190) | (46) | (1) | (1,237) | PDF p. 93PDF p. 94 |
| Reversal of impairment of intangible assets$'000 | 9 | – | – | 9 | 16 | – | – | 16 | PDF p. 93PDF p. 94 |
| Segment assets and liabilities | |||||||||
| Total assets$'000 | 135,083 | 34,135 | 6,483 | 175,701 | 134,675 | 8,635 | 6,784 | 150,094 | PDF p. 93PDF p. 94 |
| Total liabilities$'000 | 68,394 | 26,985 | 2,336 | 97,715 | 67,388 | 3,765 | 1,375 | 72,528 | PDF p. 93PDF p. 94 |
| Additions | |||||||||
| Property, plant and equipment$'000 | 7,110 | 2,480 | 998 | 10,588 | 3,157 | 134 | 1,885 | 5,176 | PDF p. 93PDF p. 94 |
| Right-of-use assets$'000 | 22 | 22,891 | – | 22,913 | 986 | 6,089 | 40 | 7,115 | PDF p. 93PDF p. 94 |
| Intangible assets$'000 | 50 | – | – | 50 | 591 | – | – | 591 | PDF p. 93PDF p. 94 |
| Contract costs$'000 | 1,010 | – | – | 1,010 | 528 | – | – | 528 | PDF p. 93PDF p. 94 |
| Segment results | |||||||||
| Income tax expense$'000 | (2,499) | (90) | (220) | (2,809) | PDF p. 94 | ||||
| Other segment information | |||||||||
| Reversal of provision for restoration costs$'000 | 3 | – | – | 3 | PDF p. 94 | ||||
Notes
Units $'000. Primary profitability measure is profit before tax.
Units $'000.
By geography
Geographical information 3 lines
| Item / unit | 2025Group Revenue | 2024Group Revenue | 2025Group Non-current assets | 2024Group Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$'000 | 137,343 | 125,511 | 106,843 | 89,281 | PDF p. 94 |
| Indonesia$'000 | 604 | 35 | 2,442 | 1,894 | PDF p. 94 |
| Total$'000 | 137,947 | 125,546 | 109,285 | 91,175 | PDF p. 94 |
Notes
Units $'000. Revenues are attributed to countries on the basis of the customer's location, irrespective of the origin of the goods and services. Non-current assets are analysed by the geographical area in which the assets are located. The non-current assets exclude any deferred tax assets.
Debt
Borrowings
Lease liabilities maturity analysis – Group
| Item / unit | 2025Minimum payments, $'000 | 2025Finance charges, $'000 | 2025Present value, $'000 | 2024Minimum payments, $'000 | 2024Finance charges, $'000 | 2024Present value, $'000 | Source |
|---|---|---|---|---|---|---|---|
| Due within 1 year$’000 | 9,908 | (1,484) | 8,424 | 4,156 | (610) | 3,546 | PDF p. 119 |
| Due within 2 to 5 years$’000 | 28,454 | (2,197) | 26,257 | 11,529 | (993) | 10,536 | PDF p. 119 |
| Due more than 5 years$’000 | 6,200 | (663) | 5,537 | 6,514 | (712) | 5,802 | PDF p. 119 |
| Total$’000 | 44,562 | (4,344) | 40,218 | 22,199 | (2,315) | 19,884 | PDF p. 119 |
Notes
Carrying value of property, plant and equipment and right-of-use assets under leases 39,269 (Group 2025).
Carrying value of property, plant and equipment and right-of-use assets under leases 19,831 (Group 2024).
Lease liabilities maturity analysis – Company
| Item / unit | 2025Minimum payments, $'000 | 2025Finance charges, $'000 | 2025Present value, $'000 | 2024Minimum payments, $'000 | 2024Finance charges, $'000 | 2024Present value, $'000 | Source |
|---|---|---|---|---|---|---|---|
| Due within 1 year$’000 | 290 | (74) | 216 | 277 | (73) | 204 | PDF p. 119 |
| Due within 2 to 5 years$’000 | 1,157 | (268) | 889 | 1,108 | (269) | 839 | PDF p. 119 |
| Due more than 5 years$’000 | 5,890 | (658) | 5,232 | 5,979 | (698) | 5,281 | PDF p. 119 |
| Total$’000 | 7,337 | (1,000) | 6,337 | 7,364 | (1,040) | 6,324 | PDF p. 119 |
Notes
Carrying value of property, plant and equipment and right-of-use assets under leases 6,171 (Company 2025).
Carrying value of property, plant and equipment and right-of-use assets under leases 6,198 (Company 2024).
Liquidity risk – contractual undiscounted maturity, Group
| Item / unit | 2025Less than 1 year, $'000 | 20252–5 years, $'000 | 2025More than 5 years, $'000 | 2025Total, $'000 | 2024Less than 1 year, $'000 | 20242–5 years, $'000 | 2024More than 5 years, $'000 | 2024Total, $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Group | |||||||||
| Bank borrowings$’000 | 4,332 | 1,972 | 5,214 | 11,518 | 4,148 | 5,139 | 6,662 | 15,949 | PDF p. 122 |
| Lease liabilities$’000 | 9,908 | 28,454 | 6,200 | 44,562 | 4,156 | 11,529 | 6,514 | 22,199 | PDF p. 122 |
Notes
Contractual and undiscounted cash flows; differ from amounts in the statements of financial position.
Contractual and undiscounted cash flows.
Liquidity risk – contractual undiscounted maturity, Company
| Item / unit | 2025Less than 1 year, $'000 | 20252–5 years, $'000 | 2025More than 5 years, $'000 | 2025Total, $'000 | 2024Less than 1 year, $'000 | 20242–5 years, $'000 | 2024More than 5 years, $'000 | 2024Total, $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Company | |||||||||
| Bank borrowings$’000 | 598 | 1,972 | 5,214 | 7,784 | 993 | 2,404 | 6,661 | 10,058 | PDF p. 122 |
| Lease liabilities$’000 | 290 | 1,157 | 5,890 | 7,337 | 277 | 1,108 | 5,979 | 7,364 | PDF p. 122 |
Notes
Contractual and undiscounted cash flows.
Borrowing notes 3 tables
Bank borrowings
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Current | |||||
| Bank loan (secured)$’000 | 359 | 292 | 359 | 292 | PDF p. 118 |
| Bank loans (unsecured)$’000 | 3,811 | 3,480 | 104 | 413 | PDF p. 118 |
| Non-current | |||||
| Bank loan (secured)$’000 | 6,179 | 6,568 | 6,178 | 6,568 | PDF p. 118 |
| Bank loans (unsecured)$’000 | – | 2,812 | – | 105 | PDF p. 118 |
| Total | |||||
| Total bank borrowings (current + non-current)$’000 | 10,349 | 13,152 | 6,641 | 7,378 | PDF p. 118 |
Notes
Secured bank loan bears floating interest rates that range between 2.12% to 3.70% per annum (2024: range between 4.20% to 4.41% per annum). The loan is secured by the first legal mortgage over leasehold property (note 14).
The remaining unsecured bank loans bear fixed interest rates that range between 1.75% to 2.00% (2024: 1.75% to 2.00%) per annum. The loans are covered by corporate guarantee from the Company.
All bank loans are repayable by monthly instalments over 60 to 192 months (2024: 60 to 216 months) from the date of first drawdown.
Currency of presentation: Singapore dollars ($'000) as printed; no currency-denomination breakdown of borrowings was located.
Statements of Financial Position – borrowings and lease liabilities lines
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Non-current liabilities | |||||
| Bank borrowings, non-current$’000 | 6,179 | 9,380 | 6,178 | 6,673 | PDF p. 77 |
| Lease liabilities, non-current$’000 | 31,734 | 16,338 | 6,121 | 6,120 | PDF p. 77 |
| Current liabilities | |||||
| Bank borrowings, current$’000 | 4,170 | 3,772 | 463 | 705 | PDF p. 77 |
| Lease liabilities, current$’000 | 8,484 | 3,546 | 216 | 204 | PDF p. 77 |
Lease liabilities (current/non-current and movements)
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Lease liabilities | |||||
| Current$’000 | 8,484 | 3,546 | 216 | 204 | PDF p. 118 |
| Non-current$’000 | 31,734 | 16,338 | 6,121 | 6,120 | PDF p. 118 |
| Movements of lease liabilities | |||||
| At beginning of year$’000 | 19,884 | 21,736 | 6,324 | 6,185 | PDF p. 118 |
| Additions$’000 | 24,246 | 944 | 16 | – | PDF p. 118 |
| Remeasurement$’000 | 705 | 353 | 196 | 322 | PDF p. 118 |
| Accretion of interest$’000 | 1,109 | 744 | 84 | 85 | PDF p. 118 |
| Repayments of principal$’000 | (4,615) | (3,149) | (199) | (183) | PDF p. 118 |
| Interest paid$’000 | (1,109) | (744) | (84) | (85) | PDF p. 118 |
| Translation difference$’000 | (2) | – | – | – | PDF p. 118 |
| At end of year$’000 | 40,218 | 19,884 | 6,337 | 6,324 | PDF p. 118 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company has a dividend policy that aims to provide shareholders of the Company with a target annual dividend pay-out of not less than 50% of the net profit attributable to Shareholders excluding non-controlling interests and non-recurring, one-off and exceptional items. | Company | PDF p. 66 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Final tax exempt (1-tier) dividend in respect of previous reporting year | 1.00 cents per share | Group and Company; final dividend for FY2024, paid in 2025; column 2025 | PDF p. 99 |
| Final tax exempt (1-tier) dividend in respect of previous reporting year | 0.88 cents per share | Group and Company; final dividend for FY2023, paid in 2024; column 2024 | PDF p. 99 |
| Interim tax exempt (1-tier) dividend in respect of current reporting year | 0.48 cents per share | Group and Company; FY2025 interim; column 2025 | PDF p. 99 |
| Interim tax exempt (1-tier) dividend in respect of current reporting year | 0.60 cents per share | Group and Company; FY2024 interim; column 2024 | PDF p. 99 |
| Proposed final dividend | 1.00 Singapore cent per ordinary share | Company; FY2025 proposed final, payable via cash, subject to shareholder approval at AGM | PDF p. 99 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| total dividend for FY2025 | 1.48 Singapore cents per share | Company; FY2025 interim 0.48 + proposed final 1.00 | PDF p. 6 |
Extracted from Union Gas Holdings Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | RSM SG Assurance LLP | Group and Company, year ended 31 December 2025 | PDF p. 75 |
| Engagement partner | Adrian Tan Khai-Chung | Group and Company, year ended 31 December 2025 | PDF p. 75 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view | Group and Company, 31 December 2025 | PDF p. 73 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Revenue recognition | We have identified revenue recognition as a key audit matter because revenue is one of the key performance indicators of the Group. | Group, year ended 31 December 2025 | PDF p. 73 |
Extracted from Union Gas Holdings Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Union Gas Holdings Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Statement amounts are in SGD thousands, historical chart amounts in SGD millions, EPS and dividend rates in Singapore cents, and contribution or margin rows in percent.
Five-year highlights retain the report’s rounded figures for FY2021–FY2025. Other operations figures are shown for FY2024 and FY2025 where printed.
The FY2024 EPS is printed as 3.93 cents. Note 11’s numerator of SGD12,502 thousand divided by 317,615 thousand weighted-average shares rounds to 3.94 cents; the original 3.93 cents is retained (PDF pp. 76 and 98).
Note 12 separates dividends paid during the year from the proposed FY2025 final dividend of 1.00 Singapore cent per share, subject to shareholder approval as stated in the annual report. The prior-year final dividend paid during FY2025 relates to FY2024.
The FY2025 financing-liability opening row keeps its printed date of 31 December 2024.
Cash equivalents are described as not restricted in use. They include SGD5.197m held with a Singapore financial institution for derivative settlement, compared with SGD1.178m in FY2024 (PDF p. 113).
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.