Sunrise Shares 581

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Financials

Sunrise Shares Holdings LTD. | Annual Report 2025

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Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group)

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Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group) from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Group, 18-month period 1 January 2024 to 30 June 20252023Group, year 1 January 2023 to 31 December 2023 Source
Income statement
RevenueS$ 5,036,999355,898 PDF p. 105
Cost of servicesS$ (2,680,638)- PDF p. 105
Gross profitS$ 2,356,361355,898 PDF p. 105
Other income
- InterestS$ 3,55818,018 PDF p. 105
- OthersS$ 87,44457,388 PDF p. 105
Expenses
Administrative expenseS$ (4,674,748)(1,877,501) PDF p. 105
Finance costsS$ (25,840)- PDF p. 105
Impairment on financial assetsS$ (287,766)- PDF p. 105
Income statement
Loss before taxS$ (2,540,991)(1,446,197) PDF p. 105
Tax expenseS$ (78,972)(6,065) PDF p. 105
Loss for the period / yearS$ (2,619,963)(1,452,262) PDF p. 105
Other comprehensive income
Other comprehensive income / (loss), net of taxS$ 184,033(107,567) PDF p. 105
Foreign currency translation reserve reclassified to profit or loss upon disposal of subsidiaryS$ (53,277)- PDF p. 105
Total comprehensive income
Total comprehensive loss for the period / yearS$ (2,435,930)(1,559,829) PDF p. 105
Earnings per share
Loss per share (cents) - Basic and dilutedcents per share (0.95)(0.69) PDF p. 105
Definitions & sources

For the financial period from 1 January 2024 to 30 June 2025; comparative is year ended 31 December 2023.

Currency translation differences arising from consolidation: 237,310 (2025 period); (107,567) (2023).

Loss attributable to / Total comprehensive loss attributable to Equity holders of the Company equal loss for period and total comprehensive loss respectively.

No separate Company income statement was printed.

Statements of Financial Position - Group

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Statements of Financial Position - Group from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Group, as at 30 June 20252023Group, as at 31 December 2023 Source
Non-current assets
Property, plant and equipmentS$ 515,170262,118 PDF p. 106
Right-of-use assetsS$ 262,268- PDF p. 106
Investment in subsidiariesS$ -- PDF p. 106
GoodwillS$ 3,522,525- PDF p. 106
Total non-current assetsS$ 4,299,963262,118 PDF p. 106
Current assets
InventoriesS$ 59,590- PDF p. 106
Trade and other receivablesS$ 892,844764,931 PDF p. 106
Cash and bank balancesS$ 680,9591,687,063 PDF p. 106
Total current assetsS$ 1,633,3932,451,994 PDF p. 106
Assets
Total assetsS$ 5,933,3562,714,112 PDF p. 106
Equity
Share capitalS$ 28,068,29525,668,295 PDF p. 106
Foreign currency translation reserveS$ 201,40317,370 PDF p. 106
Statutory reserveS$ -523,157 PDF p. 106
Accumulated lossesS$ (26,063,367)(23,966,561) PDF p. 106
Total equityS$ 2,206,3312,242,261 PDF p. 106
Non-current liabilities
Deferred tax liabilitiesS$ 3,369- PDF p. 106
Lease liabilitiesS$ 114,138- PDF p. 106
Total non-current liabilitiesS$ 117,507- PDF p. 106
Current liabilities
Trade and other payablesS$ 1,410,180471,851 PDF p. 106
Loans and borrowingsS$ 1,980,109- PDF p. 106
Lease liabilitiesS$ 159,869- PDF p. 106
Current tax liabilitiesS$ 59,360- PDF p. 106
Total current liabilitiesS$ 3,609,518471,851 PDF p. 106
Liabilities
Total liabilitiesS$ 3,727,025471,851 PDF p. 106
Equity and liabilities
Total equity and liabilitiesS$ 5,933,3562,714,112 PDF p. 106
Definitions & sources

Group columns only; the same statement's Company columns are in the next table. Page prints Group and Company side by side.

Statements of Financial Position - Company

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Statements of Financial Position - Company from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Company, as at 30 June 20252023Company, as at 31 December 2023 Source
Non-current assets
Investment in subsidiariesS$ 3,053,749153,749 PDF p. 106
Total non-current assetsS$ 3,053,749153,749 PDF p. 106
Current assets
Trade and other receivablesS$ 25087,324 PDF p. 106
Cash and bank balancesS$ 618,940230,589 PDF p. 106
Total current assetsS$ 619,190317,913 PDF p. 106
Assets
Total assetsS$ 3,672,939471,662 PDF p. 106
Equity
Share capitalS$ 28,068,29525,668,295 PDF p. 106
Accumulated lossesS$ (26,705,432)(25,809,719) PDF p. 106
Total equityS$ 1,362,863(141,424) PDF p. 106
Current liabilities
Trade and other payablesS$ 329,967613,086 PDF p. 106
Loans and borrowingsS$ 1,980,109- PDF p. 106
Total current liabilitiesS$ 2,310,076613,086 PDF p. 106
Liabilities
Total liabilitiesS$ 2,310,076613,086 PDF p. 106
Equity and liabilities
Total equity and liabilitiesS$ 3,672,939471,662 PDF p. 106
Definitions & sources

Company columns only. Company rows with '-' in both columns (PPE, right-of-use assets, goodwill, inventories, reserves, lease liabilities, deferred tax, current tax) are omitted.

Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group)

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Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group) from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Group, period 1 January 2024 to 30 June 2025 (18 months), S$2023Group, year 1 January 2023 to 31 December 2023, S$ Source
Profit or loss
RevenueS$ 5,036,999355,898 PDF p. 105
Cost of servicesS$ (2,680,638)- PDF p. 105
Gross profitS$ 2,356,361355,898 PDF p. 105
Other income
- InterestS$ 3,55818,018 PDF p. 105
- OthersS$ 87,44457,388 PDF p. 105
Expenses
Administrative expenseS$ (4,674,748)(1,877,501) PDF p. 105
Finance costsS$ (25,840)- PDF p. 105
Impairment on financial assetsS$ (287,766)- PDF p. 105
Profit or loss
Loss before taxS$ (2,540,991)(1,446,197) PDF p. 105
Tax expenseS$ (78,972)(6,065) PDF p. 105
Loss for the period / yearS$ (2,619,963)(1,452,262) PDF p. 105
Other comprehensive income / (loss)
Currency translation differences arising from consolidationS$ 237,310(107,567) PDF p. 105
Foreign currency translation reserve reclassified to profit or loss upon disposal of subsidiaryS$ (53,277)- PDF p. 105
Other comprehensive income / (loss), net of taxS$ 184,033(107,567) PDF p. 105
Total comprehensive loss
Total comprehensive loss for the period / yearS$ (2,435,930)(1,559,829) PDF p. 105
Loss attributable to
Equity holders of the CompanyS$ (2,619,963)(1,452,262) PDF p. 105
Total comprehensive loss attributable to
Equity holders of the CompanyS$ (2,435,930)(1,559,829) PDF p. 105
Loss per share
Loss per share (cents) - Basic and dilutedcents (0.95)(0.69) PDF p. 105
Definitions & sources

No non-controlling interests are shown; all loss attributable to equity holders of the Company.

Consolidated Statement of Cash Flows (Group)

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Consolidated Statement of Cash Flows (Group) from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Group, period 1 January 2024 to 30 June 2025, S$2023Group, year 1 January 2023 to 31 December 2023, S$ Source
Cash flows from operating activities
Loss before taxS$ (2,540,991)(1,446,197) PDF p. 109
Adjustments for
Depreciation of property, plant and equipmentS$ 195,69013,211 PDF p. 109
Depreciation of right-of-use assetsS$ 197,413- PDF p. 109
Interest incomeS$ (3,558)(18,018) PDF p. 109
Interest expenseS$ 32,721- PDF p. 109
Impairment on financial assetsS$ 287,766- PDF p. 109
Gain on disposal of subsidiariesS$ (57,100)- PDF p. 109
(Gain) / Loss on disposal of property, plant andS$ (224)25 PDF p. 109
Operating cash flow before working capital changes (unlabelled subtotal)S$ (1,888,283)(1,450,979) PDF p. 109
Changes in working capital
InventoriesS$ (7,980)- PDF p. 109
Trade and other receivablesS$ (141,624)(737,162) PDF p. 109
Trade and other payablesS$ 169,160164,706 PDF p. 109
Cash flows from operating activities
Cash used in operationsS$ (1,868,727)(2,023,435) PDF p. 109
Income tax paidS$ (15,796)(58,804) PDF p. 109
Net cash used in operating activitiesS$ (1,884,523)(2,082,239) PDF p. 109
Cash flows from investing activities
Interest receivedS$ 3,55818,018 PDF p. 109
Acquisition of a subsidiary, net of cash acquiredS$ (476,417)- PDF p. 109
Disposal of subsidiaries, net of cash disposed ofS$ (38,855)- PDF p. 109
Purchase of property, plant and equipmentS$ (391,806)(274,630) PDF p. 109
Proceeds from disposal of property, plant andS$ 1,920372 PDF p. 109
Net cash used in investing activitiesS$ (901,600)(256,240) PDF p. 109
Cash flows from financing activities
Proceeds from drawdown of loans and borrowingsS$ 3,250,000- PDF p. 109
Repayments of lease liabilities - principalS$ (185,907)- PDF p. 109
Interest paidS$ (32,721)- PDF p. 109
Net cash from financing activitiesS$ 1,761,481- PDF p. 109
Cash and bank balances
Net decrease in cash and bank balancesS$ (1,024,642)(2,338,479) PDF p. 109
Cash and bank balances at beginning of theS$ 1,687,0634,134,205 PDF p. 109
Effects of exchange rate changes on cash and bankS$ 18,538(108,663) PDF p. 109
Cash and bank balances at end of the financialS$ 680,9591,687,063 PDF p. 109
Definitions & sources

Repayments of loans and borrowings has no printed comparative value (blank cell). Row labels wrapped across two lines in the source; original_label is the first fragment and the quote is the continuation line carrying the values where applicable.

Only the Group cash flow statement is presented; no Company cash flow statement.

Consolidated Statement of Changes in Equity (Group) - period ended 30 June 2025

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Consolidated Statement of Changes in Equity (Group) - period ended 30 June 2025 from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Group, Share Capital, S$2025Group, Foreign currency translation reserve, S$2025Group, Statutory reserve, S$2025Group, Accumulated losses, S$2025Group, Total equity, S$ Source
30 June 2025
Balance at 1 January 2024S$ 25,668,29517,370523,157(23,966,561)2,242,261 PDF p. 107
Share issued for acquisition of subsidiary (Note 12A)S$ 2,400,000---2,400,000 PDF p. 107
Transfer due to disposal of subsidiaries (Note 12B)S$ --(523,157)523,157- PDF p. 107
Loss for the periodS$ ---(2,619,963)(2,619,963) PDF p. 107
30 June 2025 - Other comprehensive income / (loss)
Currency translation differences arising from consolidationS$ -237,310--237,310 PDF p. 107
Reclassified upon disposal of subsidiariesS$ -(53,277)--(53,277) PDF p. 107
30 June 2025
Total comprehensive loss for the periodS$ -184,033-(2,619,963)(2,435,930) PDF p. 107
Balance at 30 June 2025S$ 28,068,295201,403-(26,063,367)2,206,331 PDF p. 107
Definitions & sources

No non-controlling interest column is presented.

Consolidated Statement of Changes in Equity (Group) - year ended 31 December 2023

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Consolidated Statement of Changes in Equity (Group) - year ended 31 December 2023 from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2023Group, Share Capital, S$2023Group, Foreign currency translation reserve, S$2023Group, Statutory reserve, S$2023Group, Accumulated losses, S$2023Group, Total equity, S$ Source
31 December 2023
Balance at 1 January 2023S$ 25,668,295124,937523,157(22,514,299)3,802,090 PDF p. 107
Loss for the yearS$ ---(1,452,262)(1,452,262) PDF p. 107
31 December 2023 - Other comprehensive loss
Currency translation differences arising from consolidationS$ -(107,567)--(107,567) PDF p. 107
31 December 2023
Total comprehensive loss for the yearS$ -(107,567)-(1,452,262)(1,559,829) PDF p. 107
Balance at 31 December 2023S$ 25,668,29517,370523,157(23,966,561)2,242,261 PDF p. 107
Definitions & sources

Statement of Changes in Equity (Company) - period ended 30 June 2025

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Statement of Changes in Equity (Company) - period ended 30 June 2025 from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Company, Share capital, S$2025Company, Accumulated losses, S$2025Company, Total equity, S$ Source
30 June 2025
Balance at 1 January 2024S$ 25,668,295(25,809,719)(141,424) PDF p. 108
Share issued for acquisition of subsidiary (NoteS$ 2,400,000-2,400,000 PDF p. 108
Loss for the periodS$ -(895,713)(895,713) PDF p. 108
Balance at 30 June 2025S$ 28,068,295(26,705,432)1,362,863 PDF p. 108
Definitions & sources

Row 'Share issued for acquisition of subsidiary (Note 12A)' wraps across two lines; values are on the continuation line.

Statement of Changes in Equity (Company) - year ended 31 December 2023

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Statement of Changes in Equity (Company) - year ended 31 December 2023 from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2023Company, Share capital, S$2023Company, Accumulated losses, S$2023Company, Total equity, S$ Source
31 December 2023
Balance at 1 January 2023S$ 25,668,295(24,707,515)960,780 PDF p. 108
Loss for the yearS$ -(1,102,204)(1,102,204) PDF p. 108
Balance at 31 December 2023S$ 25,668,295(25,809,719)(141,424) PDF p. 108
Definitions & sources

Note 9 Loss per share (Group)

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Note 9 Loss per share (Group) from Sunrise Shares Holdings LTD. | Annual Report 2025
Metric / unit 2025Group, 1 January 2024 to 30 June 2025 (18 months)2023Group, 1 January 2023 to 31 December 2023 (12 months) Source
Loss per share
Loss for the period / yearS$ (2,619,963)(1,452,262) PDF p. 127
Weighted average number of ordinary shares outstanding for basic and diluted loss per share (’000)'000 shares 276,004209,337 PDF p. 127
Basic and diluted loss per share (cents)cents (0.95)(0.69) PDF p. 127
Definitions & sources

Period is an 18-month period (FP2025) versus a 12-month comparative; figures not entirely comparable per Chairman's Statement.

Where the money comes from

Segment information

By business

Segment information - 18-month period ended 30 June 2025 (by business segment) 10 lines
Segment information - 18-month period ended 30 June 2025 (by business segment)
Item / unit 2025Property consultancy and management services, S$ (period 1 Jan 2024 to 30 Jun 2025)2025Hospitality management services, S$ (period 1 Jan 2024 to 30 Jun 2025)2025Investments and others, S$ (period 1 Jan 2024 to 30 Jun 2025)2025Total, S$ (period 1 Jan 2024 to 30 Jun 2025) Source
Segment revenue
Sales to external customersS$ 59,7054,977,294-5,036,999 PDF p. 144
Total revenueS$ 59,7054,977,294-5,036,999 PDF p. 144
Results
(Loss) / profit before taxS$ (381,105)144,019(2,303,905)(2,540,991) PDF p. 144
Tax expenseS$ (11,287)(67,685)-(78,972) PDF p. 144
Net profit / (loss) attributable to owners of the CompanyS$ (392,392)76,334(2,303,905)(2,619,963) PDF p. 144
Assets and liabilities
Reportable segment assetsS$ 79,4053,965,8711,888,0805,933,356 PDF p. 144
Reportable segment liabilitiesS$ (26,625)(1,204,052)(2,496,348)(3,727,025) PDF p. 144
Capital expenditureS$ -11,842379,964391,806 PDF p. 144
DepreciationS$ -52,807340,296393,103 PDF p. 144
Impairment of financial assetsS$ --287,766287,766 PDF p. 144
Notes

Net profit/(loss) row label wraps: 'Net profit / (loss) attributable to' / 'owners of the Company'; quote is the second line.

Reporting period is 18 months from 1 January 2024 to 30 June 2025 (financial year end changed from 31 December to 30 June); not comparable to the prior 12-month year.

Performance is measured based on segment profit/(loss) before tax. 'Investments and others' includes investment holding companies, unallocated corporate functions and inactive companies.

Segment information - year ended 31 December 2023 (by business segment) 10 lines
Segment information - year ended 31 December 2023 (by business segment)
Item / unit 2023Property consultancy and management services, S$ (year ended 31 Dec 2023)2023Investments and others, S$ (year ended 31 Dec 2023)2023Total, S$ (year ended 31 Dec 2023) Source
Segment revenue
Sales to external customersS$ 187,126-187,126 PDF p. 144
Sales to related partyS$ 168,772-168,772 PDF p. 144
Total revenueS$ 355,898-355,898 PDF p. 144
Results
Loss before taxS$ (344,481)(1,101,716)(1,446,197) PDF p. 144
Tax expenseS$ (6,065)-(6,065) PDF p. 144
Net loss attributable to owners of the CompanyS$ (350,546)(1,101,716)(1,452,262) PDF p. 144
Assets and liabilities
Reportable segment assetsS$ 755,7861,958,3262,714,112 PDF p. 144
Reportable segment liabilitiesS$ (17,895)(453,956)(471,851) PDF p. 144
Capital expenditureS$ -274,630274,630 PDF p. 144
DepreciationS$ -13,21113,211 PDF p. 144
Notes

Only one reportable segment in 2023 (property consultancy and management services).

By geography

Geographical segments - 30 June 2025 3 lines
Geographical segments - 30 June 2025
Item / unit 2025Revenue, S$ (period 1 Jan 2024 to 30 Jun 2025)2025Non-current assets, S$ (30 June 2025) Source
30 June 2025
MalaysiaS$ 4,977,2944,299,963 PDF p. 145
ChinaS$ 59,705- PDF p. 145
Total (unlabelled)S$ 5,036,9994,299,963 PDF p. 145
Notes

Segment revenue is based on the geographical location of customers. Segment assets are based on the geographical location of the assets.

Total row has no printed label.

Geographical segments - 31 December 2023 3 lines
Geographical segments - 31 December 2023
Item / unit 2023Revenue, S$ (year ended 31 Dec 2023)2023Non-current assets, S$ (31 December 2023) Source
31 December 2023
Hong KongS$ 168,772- PDF p. 145
ChinaS$ 187,126- PDF p. 145
Total (unlabelled)S$ 355,898- PDF p. 145
Notes

Total row has no printed label.

Debt

Borrowings

Liquidity risk maturity profile (contractual undiscounted)

Liquidity risk maturity profile (contractual undiscounted) — Group
Item / unit 202530 June 2025, 1 year or less202530 June 2025, 1 to 5 years202530 June 2025, Total Source
Group 30 June 2025
Lease liabilitiesS$ 173,276117,236290,512 PDF p. 142
Short-term borrowingsS$ 2,019,709-2,019,709 PDF p. 142
Notes

Based on contractual undiscounted repayment obligations. Company 30 June 2025 short-term borrowings also 2,019,709 / - / 2,019,709. No maturity bucket beyond five years is presented.

Borrowing notes 3 tables

Loans and borrowings

Loans and borrowings
Item / unit 2025Group, 30 June 20252023Group, 31 December 20232025Company, 30 June 20252023Company, 31 December 2023 Source
Loans – unsecured
Amount repayable within one yearS$ 1,980,109-1,980,109- PDF p. 135
Notes

Financial period 1 January 2024 to 30 June 2025; comparative is year ended 31 December 2023. All loans unsecured and repayable within one year. Loan Agreement 1: S$1.75 million interest-free loan from the CEO; Loan Agreement 2: S$1.5 million at 6% interest per annum from an unrelated individual; both repayable 12 months from drawdown, extended to 31 December 2026 by letters dated 27 October 2025. Loan Agreement 3 (Cybersec Technology Pte. Ltd., S$1.75 million, 6% per annum) not yet drawn; availability extended to 19 February 2026.

Carrying amount of lease liabilities

Carrying amount of lease liabilities — Group
Item / unit 202530 June 2025202331 December 2023 Source
Carrying amount of lease liabilities
Non-currentS$ 114,138- PDF p. 128
CurrentS$ 159,869- PDF p. 128
Notes

Total lease liabilities 274,007 (2025) and - (2023).

Interest rate profile – fixed rate instruments

Interest rate profile – fixed rate instruments
Item / unit 2025Group, 30 June 20252023Group, 31 December 20232025Company, 30 June 20252023Company, 31 December 2023 Source
Fixed rate instruments
Lease liabilitiesS$ 274,007--- PDF p. 140
Loans and borrowingsS$ 660,000--- PDF p. 140
Notes

Fixed-rate loans and borrowings of 660,000 relate to the interest-bearing portion; the interest-free CEO loan is not included.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Dividend policy The Company does not have a formal dividend policy at present. The form, frequency and amount of dividends declared each year will take into consideration the Group’s profit growth, cash position, positive cash flow generated from operations, projected capital requirements for business growth and other factors as the Board may deem appropriate. Company/Group, FP2025 PDF p. 75

Dividends declared and proposed

ItemValuePeriod / scopeSource
No dividend recommended for FP2025 no dividend has been declared or recommended for FP2025 Group, FP2025 (18 months ended 30 June 2025) PDF p. 5
Board not recommending dividend FP2025 The Board is not recommending any dividend distribution to Shareholders in FP2025 on the basis that the Group has reported a loss for FP2025, and the Group’s intention to conserve cash for future expansion given the overall challenging business environment. Group, FP2025 PDF p. 75

Extracted from Sunrise Shares Holdings LTD. | Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

ItemValuePeriod / scopeSource
Audit firm Crowe Horwath First Trust LLP Group and Company PDF p. 104
Engagement partner Lim Thien Hoon Group and Company PDF p. 104
Opinion unmodified Group and Company PDF p. 99

Going concern

ItemValuePeriod / scopeSource
Material Uncertainty Related to Going Concern These conditions indicate that material uncertainty exists that may cast significant doubt on the Group’s and the Company’s ability to continue as a going concern. Group and Company · As at 2025-06-30 PDF p. 99
Fundamental accounting concept These events and conditions give rise to material uncertainty exists that may cast significant doubt on the Group and the Company’s ability to continue as going concerns Group and Company · As at 2025-06-30 PDF p. 110

Extracted from Sunrise Shares Holdings LTD. | 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 Sunrise Shares Holdings LTD. | Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.