AEM SGD AWX
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-2.74% -0.17 Updated 6 Nov 2026, 17:16 SGT
Financials
Annual Report 2025
Explore the statements
15 tablesStatements of Financial Position
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Assets — non-current assets | |||||
| Property, plant and equipment$’000 | 35,683 | 35,834 | 6 | 10 | PDF p. 39 |
| Investment properties$’000 | 1,511 | 1,600 | – | – | PDF p. 39 |
| Right-of-use assets$’000 | 14,155 | 21,094 | – | 67 | PDF p. 39 |
| Intangible assets$’000 | 130,252 | 129,828 | – | 15 | PDF p. 39 |
| Interests in subsidiaries$’000 | – | – | 82,851 | 82,851 | PDF p. 39 |
| Trade and other receivables$’000 | 13,441 | 4,437 | – | – | PDF p. 39 |
| Deferred tax assets$’000 | 1,084 | 837 | 22 | 71 | PDF p. 39 |
| Assets — non-current assets subtotal | |||||
| Non-current assets$’000 | 196,126 | 193,630 | 82,879 | 83,014 | PDF p. 39 |
| Assets — current assets | |||||
| Inventories$’000 | 226,969 | 296,773 | – | – | PDF p. 39 |
| Trade and other receivables$’000 | 120,316 | 138,221 | 100,145 | 108,926 | PDF p. 39 |
| Contract assets$’000 | 858 | 776 | – | – | PDF p. 39 |
| Cash and cash equivalents$’000 | 77,334 | 43,775 | 10,993 | 3,299 | PDF p. 39 |
| Assets — current assets subtotal | |||||
| Current assets$’000 | 425,477 | 479,545 | 111,138 | 112,225 | PDF p. 39 |
| Assets | |||||
| Total assets$’000 | 621,603 | 673,175 | 194,017 | 195,239 | PDF p. 39 |
| Equity | |||||
| Share capital$’000 | 189,661 | 188,851 | 189,661 | 188,851 | PDF p. 39 |
| Reserves$’000 | (38,100) | (27,371) | (4,807) | (6,318) | PDF p. 39 |
| Accumulated profits$’000 | 341,207 | 324,218 | 5,971 | 6,256 | PDF p. 39 |
| Equity attributable to owners of the Company$’000 | 492,768 | 485,698 | 190,825 | 188,789 | PDF p. 39 |
| Non-controlling interest$’000 | 6,556 | 6,616 | – | – | PDF p. 39 |
| Total equity$’000 | 499,324 | 492,314 | 190,825 | 188,789 | PDF p. 39 |
| Liabilities — non-current liabilities | |||||
| Loans and borrowings$’000 | 9,329 | 15,895 | – | – | PDF p. 39 |
| Trade and other payables$’000 | 190 | 282 | – | – | PDF p. 39 |
| Deferred tax liabilities$’000 | 12,694 | 11,634 | – | – | PDF p. 39 |
| Provisions$’000 | 5,449 | 3,648 | – | – | PDF p. 39 |
| Defined benefit obligations$’000 | 1,104 | 1,007 | – | – | PDF p. 39 |
| Liabilities — non-current liabilities subtotal | |||||
| Non-current liabilities$’000 | 28,766 | 32,466 | – | – | PDF p. 39 |
| Liabilities — current liabilities | |||||
| Loans and borrowings$’000 | 7,045 | 78,484 | – | 67 | PDF p. 39 |
| Trade and other payables$’000 | 67,450 | 53,736 | 2,667 | 5,710 | PDF p. 39 |
| Contract liabilities$’000 | 9,258 | 7,324 | – | – | PDF p. 39 |
| Current tax payable$’000 | 7,453 | 6,326 | 525 | 673 | PDF p. 39 |
| Provisions$’000 | 2,307 | 2,525 | – | – | PDF p. 39 |
| Liabilities — current liabilities subtotal | |||||
| Current liabilities$’000 | 93,513 | 148,395 | 3,192 | 6,450 | PDF p. 39 |
| Liabilities | |||||
| Total liabilities$’000 | 122,279 | 180,861 | 3,192 | 6,450 | PDF p. 39 |
| Equity and liabilities | |||||
| Total equity and liabilities$’000 | 621,603 | 673,175 | 194,017 | 195,239 | PDF p. 39 |
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Definitions & sources
Original report: PDF p. 39 ↗
Consolidated Statement of Comprehensive Income
28 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Revenue and expenses | |||
| Revenue$’000 | 399,338 | 380,410 | PDF p. 40 |
| Cost of sales$’000 | (296,822) | (282,796) | PDF p. 40 |
| Revenue and expenses — subtotal | |||
| Gross profit$’000 | 102,516 | 97,614 | PDF p. 40 |
| Revenue and expenses | |||
| Other income$’000 | 3,752 | 2,213 | PDF p. 40 |
| Research and development expenses$’000 | (23,890) | (23,684) | PDF p. 40 |
| Selling, general and administrative expenses$’000 | (55,228) | (56,376) | PDF p. 40 |
| Foreign exchange (loss)/gain, net$’000 | (3,988) | 4,291 | PDF p. 40 |
| Other expenses$’000 | (1,163) | (6,086) | PDF p. 40 |
| Operating result | |||
| Results from operating activities$’000 | 21,999 | 17,972 | PDF p. 40 |
| Finance | |||
| Finance income$’000 | 1,807 | 1,009 | PDF p. 40 |
| Finance costs$’000 | (2,476) | (4,584) | PDF p. 40 |
| Net finance costs$’000 | (669) | (3,575) | PDF p. 40 |
| Profit before tax | |||
| Share of equity-accounted investee’s loss, net of tax$’000 | – | (326) | PDF p. 40 |
| Profit | |||
| Profit before tax$’000 | 21,330 | 14,071 | PDF p. 40 |
| Tax expense$’000 | (4,182) | (2,465) | PDF p. 40 |
| Profit for the year$’000 | 17,148 | 11,606 | PDF p. 40 |
| Profit attributable to | |||
| Owners of the Company$’000 | 16,951 | 11,438 | PDF p. 40 |
| Non-controlling interest$’000 | 197 | 168 | PDF p. 40 |
| Profit for the year$’000 | 17,148 | 11,606 | PDF p. 40 |
| Earnings per share | |||
| Basic earnings per sharecents per share | 5.40 | 3.68 | PDF p. 40 |
| Diluted earnings per sharecents per share | 5.35 | 3.65 | PDF p. 40 |
| Other comprehensive income — items that are or may be reclassified subsequently to profit or loss | |||
| Foreign currency translation difference – foreign operations$’000 | (10,856) | 3,478 | PDF p. 40 |
| Foreign currency translation difference on loss of significant influence reclassified to profit or loss$’000 | – | 600 | PDF p. 40 |
| Other comprehensive income | |||
| Other comprehensive (loss)/income for the year, net of tax$’000 | (10,856) | 4,078 | PDF p. 40 |
| Comprehensive income | |||
| Total comprehensive income for the year$’000 | 6,292 | 15,684 | PDF p. 40 |
| Total comprehensive income attributable to | |||
| Owners of the Company$’000 | 5,159 | 15,492 | PDF p. 40 |
| Non-controlling interest$’000 | 1,133 | 192 | PDF p. 40 |
| Total comprehensive income for the year$’000 | 6,292 | 15,684 | PDF p. 40 |
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Definitions & sources
Original report: PDF p. 40 ↗
Consolidated Statement of Changes in Equity — FY2024
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group; Share capital | 2024Group; Reserve for own shares | 2024Group; Other reserves | 2024Group; Share compensation reserve | 2024Group; Currency translation reserve | 2024Group; Accumulated profits | 2024Group; Total | 2024Group; Non-controlling interest | 2024Group; Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening equity balances | ||||||||||
| At 1 January 2024$’000 | 187,577 | (10,091) | (10,323) | 3,472 | (15,958) | 312,779 | 467,456 | 6,930 | 474,386 | PDF p. 40 |
| Total comprehensive income for the year 2024 | ||||||||||
| Profit for the year$’000 | – | – | – | – | – | 11,438 | 11,438 | 168 | 11,606 | PDF p. 40 |
| Other comprehensive income 2024 | ||||||||||
| Foreign currency translation difference – foreign operations$’000 | – | – | – | – | 3,454 | – | 3,454 | 24 | 3,478 | PDF p. 40 |
| Foreign currency translation differences on loss of significant influence reclassified to profit or loss$’000 | – | – | – | – | 600 | – | 600 | – | 600 | PDF p. 40 |
| Total comprehensive income 2024 | ||||||||||
| Total comprehensive income for the year$’000 | – | – | – | – | 4,054 | 11,438 | 15,492 | 192 | 15,684 | PDF p. 40 |
| Contributions by and distributions to owners of the Company 2024 | ||||||||||
| Treasury shares reissued pursuant to share plans$’000 | – | 920 | 103 | (1,023) | – | – | – | – | – | PDF p. 40 |
| Ordinary shares issued pursuant to share plans$’000 | 249 | – | 244 | (493) | – | – | – | – | – | PDF p. 40 |
| Share option exercised$’000 | 1,025 | – | – | – | – | – | 1,025 | – | 1,025 | PDF p. 40 |
| Share-based payment transactions (Note 22)$’000 | – | – | – | 1,950 | – | – | 1,950 | – | 1,950 | PDF p. 40 |
| Transactions with owners 2024 | ||||||||||
| Total contributions by and distributions to owners of the Company$’000 | 1,274 | 920 | 347 | 434 | – | – | 2,975 | – | 2,975 | PDF p. 40 |
| Changes in ownership interests in a subsidiary 2024 | ||||||||||
| Acquisition of a subsidiary with non-controlling interest$’000 | – | – | (248) | – | 22 | 1 | (225) | (506) | (731) | PDF p. 40 |
| Total changes in ownership interests in a subsidiary$’000 | – | – | (248) | – | 22 | 1 | (225) | (506) | (731) | PDF p. 40 |
| Transactions with owners 2024 | ||||||||||
| Total transactions with owners$’000 | 1,274 | 920 | 99 | 434 | 22 | 1 | 2,750 | (506) | 2,244 | PDF p. 40 |
| Closing equity balances | ||||||||||
| At 31 December 2024$’000 | 188,851 | (9,171) | (10,224) | 3,906 | (11,882) | 324,218 | 485,698 | 6,616 | 492,314 | PDF p. 40 |
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Definitions & sources
Original report: PDF p. 40 ↗
The accompanying notes form an integral part of these financial statements. The 2024 closing balance is also the 2025 opening balance. Rows with wrapped labels on the source page are quoted with whitespace normalized.
Consolidated Statement of Changes in Equity — FY2025
13 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; Share capital | 2025Group; Reserve for own shares | 2025Group; Other reserves | 2025Group; Share compensation reserve | 2025Group; Currency translation reserve | 2025Group; Accumulated profits | 2025Group; Total | 2025Group; Non-controlling interest | 2025Group; Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening equity balances | ||||||||||
| At 1 January 2025$’000 | 188,851 | (9,171) | (10,224) | 3,906 | (11,882) | 324,218 | 485,698 | 6,616 | 492,314 | PDF p. 41 |
| Total comprehensive income for the year 2025 | ||||||||||
| Profit for the year$’000 | – | – | – | – | – | 16,951 | 16,951 | 197 | 17,148 | PDF p. 41 |
| Other comprehensive income 2025 | ||||||||||
| Foreign currency translation difference – foreign operations$’000 | – | – | – | – | (11,792) | – | (11,792) | 936 | (10,856) | PDF p. 41 |
| Total comprehensive income 2025 | ||||||||||
| Total comprehensive income for the year$’000 | – | – | – | – | (11,792) | 16,951 | 5,159 | 1,133 | 6,292 | PDF p. 41 |
| Contributions by and distributions to owners of the Company 2025 | ||||||||||
| Own shares acquired$’000 | – | (1,946) | – | – | – | – | (1,946) | – | (1,946) | PDF p. 41 |
| Ordinary shares issued pursuant to share plans$’000 | 810 | – | 534 | (1,344) | – | – | – | – | – | PDF p. 41 |
| Treasury shares reissued for fulfilment of contractual obligation (Note 22)$’000 | – | 4,427 | (2,417) | – | – | – | 2,010 | – | 2,010 | PDF p. 41 |
| Share-based payment transactions (Note 22)$’000 | – | – | – | 2,257 | – | – | 2,257 | – | 2,257 | PDF p. 41 |
| Transactions with owners 2025 | ||||||||||
| Total contributions by and distributions to owners of the Company$’000 | 810 | 2,481 | (1,883) | 913 | – | – | 2,321 | – | 2,321 | PDF p. 41 |
| Changes in ownership interests in a subsidiary 2025 | ||||||||||
| Acquisition of a subsidiary with non-controlling interest$’000 | – | – | (505) | – | 57 | 38 | (410) | (1,193) | (1,603) | PDF p. 41 |
| Total changes in ownership interests in a subsidiary$’000 | – | – | (505) | – | 57 | 38 | (410) | (1,193) | (1,603) | PDF p. 41 |
| Transactions with owners 2025 | ||||||||||
| Total transactions with owners$’000 | 810 | 2,481 | (2,388) | 913 | 57 | 38 | 1,911 | (1,193) | 718 | PDF p. 41 |
| Closing equity balances | ||||||||||
| At 31 December 2025$’000 | 189,661 | (6,690) | (12,612) | 4,819 | (23,617) | 341,207 | 492,768 | 6,556 | 499,324 | PDF p. 41 |
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Definitions & sources
Original report: PDF p. 41 ↗
The accompanying notes form an integral part of these financial statements. The 2024 closing balance is also the 2025 opening balance. Rows with wrapped labels on the source page are quoted with whitespace normalized.
Consolidated Statement of Cash Flows
50 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit for the year$’000 | 17,148 | 11,606 | PDF p. 41 |
| Adjustments for | |||
| Depreciation of property, plant and equipment$’000 | 6,556 | 6,755 | PDF p. 41 |
| Depreciation of investment properties$’000 | 26 | 28 | PDF p. 41 |
| Depreciation of right-of-use assets$’000 | 6,734 | 8,188 | PDF p. 41 |
| Amortisation of intangible assets$’000 | 11,292 | 9,493 | PDF p. 41 |
| Loss on disposal of property, plant and equipment$’000 | 99 | 853 | PDF p. 41 |
| Write off of property, plant and equipment$’000 | 507 | 327 | PDF p. 41 |
| Loss on disposal of intangible assets$’000 | 87 | – | PDF p. 41 |
| Gain on derecognition of lease liability$’000 | (938) | – | PDF p. 41 |
| Impairment loss on intangible assets$’000 | – | 3,398 | PDF p. 41 |
| Reversal of impairment loss on trade receivables$’000 | (2) | (79) | PDF p. 41 |
| Loss on disposal of an associate$’000 | – | 2,349 | PDF p. 41 |
| Gain on disposal of other investment$’000 | – | (78) | PDF p. 41 |
| Net finance costs$’000 | 669 | 3,575 | PDF p. 41 |
| Foreign exchange differences arising from translation$’000 | (1,591) | 1,213 | PDF p. 41 |
| Provision/(reversal) of defined benefit obligations$’000 | 97 | (52) | PDF p. 41 |
| Share of loss of equity-accounted investee, net of tax$’000 | – | 326 | PDF p. 41 |
| Equity-settled share-based payment expenses | |||
| Share plans$’000 | 2,257 | 1,950 | PDF p. 41 |
| Fulfilment of contractual obligation$’000 | 2,010 | – | PDF p. 41 |
| Adjustments for | |||
| Tax expense$’000 | 4,182 | 2,465 | PDF p. 41 |
| Operating activities (printed interim figure without row label beyond numeric total) | |||
| Subtotal$’000 | 49,133 | 52,317 | PDF p. 41 |
| Changes in | |||
| Inventories$’000 | 65,725 | 37,464 | PDF p. 41 |
| Trade and other receivables$’000 | (330) | (80,608) | PDF p. 41 |
| Contract assets$’000 | (36) | 781 | PDF p. 41 |
| Trade and other payables$’000 | 19,580 | (24,810) | PDF p. 41 |
| Contract liabilities$’000 | 1,922 | (568) | PDF p. 41 |
| Provisions$’000 | 1,804 | (36) | PDF p. 41 |
| Operating activities | |||
| Cash generated from/(used in) operations$’000 | 137,798 | (15,460) | PDF p. 41 |
| Tax paid$’000 | (1,840) | (2,079) | PDF p. 41 |
| Net cash generated from/(used in) operating activities$’000 | 135,958 | (17,539) | PDF p. 41 |
| Cash flows from investing activities | |||
| Acquisition of intangible assets$’000 | (13,416) | (18,317) | PDF p. 41 |
| Acquisition of property, plant and equipment$’000 | (7,735) | (5,869) | PDF p. 41 |
| Interest received$’000 | 452 | 1,009 | PDF p. 41 |
| Proceeds from disposal of property, plant and equipment$’000 | 191 | 1,859 | PDF p. 41 |
| Proceeds from disposal of intangible assets$’000 | 2 | – | PDF p. 41 |
| Proceeds from disposal of an associate$’000 | – | 6,630 | PDF p. 41 |
| Proceeds from disposal of other investment$’000 | – | 5,897 | PDF p. 41 |
| Net cash used in investing activities$’000 | (20,506) | (8,791) | PDF p. 41 |
| Cash flows from financing activities | |||
| Interest paid$’000 | (2,425) | (4,561) | PDF p. 42 |
| Repayment of borrowings$’000 | (100,331) | (76,611) | PDF p. 42 |
| Payment of lease liabilities$’000 | (7,208) | (7,875) | PDF p. 42 |
| Proceeds from borrowings$’000 | 32,800 | 57,000 | PDF p. 42 |
| Repurchase of treasury shares$’000 | (1,946) | – | PDF p. 42 |
| Proceeds from exercise of share options$’000 | – | 1,025 | PDF p. 42 |
| Acquisition of subsidiary’s interests from the non-controlling interest$’000 | (1,603) | (731) | PDF p. 42 |
| Net cash used in financing activities$’000 | (80,713) | (31,753) | PDF p. 42 |
| Cash and cash equivalents | |||
| Net increase/(decrease) in cash and cash equivalents$’000 | 34,739 | (58,083) | PDF p. 42 |
| Cash and cash equivalents at 1 January$’000 | 43,775 | 101,849 | PDF p. 42 |
| Effect of exchange rate fluctuations on cash held$’000 | (1,180) | 9 | PDF p. 42 |
| Cash and cash equivalents at 31 December$’000 | 77,334 | 43,775 | PDF p. 42 |
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Definitions & sources
Original report: PDF p. 41 ↗ PDF p. 42 ↗
The accompanying notes form an integral part of these financial statements. Figures are shown in $’000. The interim total 49,133 and 52,317 appears as a numeric line without a visible row label in the page text; it is retained as printed without assigning a derived label.
Financial Highlights — Profit or Loss Statement — amounts
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY2025; Group; S$'000 | 2024FY2024; Group; S$'000 | Source |
|---|---|---|---|
| Profit or Loss Statement | |||
| RevenueSGD thousands | 399,338 | 380,410 | PDF p. 14 |
| Cost of salesSGD thousands | (296,822) | (282,796) | PDF p. 14 |
| Gross profitSGD thousands | 102,516 | 97,614 | PDF p. 14 |
| Research and development expensesSGD thousands | (23,890) | (23,684) | PDF p. 14 |
| Selling, general and administrative expensesSGD thousands | (55,228) | (56,376) | PDF p. 14 |
| Foreign exchange (loss)/gain, netSGD thousands | (3,988) | 4,291 | PDF p. 14 |
| Other income/(expenses), netSGD thousands | 2,589 | (3,873) | PDF p. 14 |
| Finance costs, netSGD thousands | (669) | (3,575) | PDF p. 14 |
| Share of equity-accounted investee's loss, net of taxSGD thousands | - | (326) | PDF p. 14 |
| Profit before taxSGD thousands | 21,330 | 14,071 | PDF p. 14 |
| Tax expenseSGD thousands | (4,182) | (2,465) | PDF p. 14 |
| Profit for the yearSGD thousands | 17,148 | 11,606 | PDF p. 14 |
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Definitions & sources
Original report: PDF p. 14 ↗
NM: Not meaningful
Financial Highlights — FY2025 vs FY2024 change
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; FY2025 vs FY2024 change | Source |
|---|---|---|
| Printed change; NM means not meaningful | ||
| Revenue% | 5 | PDF p. 14 |
| Cost of sales% | 5 | PDF p. 14 |
| Gross profit% | 5 | PDF p. 14 |
| Research and development expenses% | 1 | PDF p. 14 |
| Selling, general and administrative expenses% | (2) | PDF p. 14 |
| Foreign exchange (loss)/gain, net% | NM | PDF p. 14 |
| Other income/(expenses), net% | NM | PDF p. 14 |
| Finance costs, net% | (81) | PDF p. 14 |
| Share of equity-accounted investee's loss, net of tax% | NM | PDF p. 14 |
| Profit before tax% | 52 | PDF p. 14 |
| Tax expense% | 70 | PDF p. 14 |
| Profit for the year% | 48 | PDF p. 14 |
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Definitions & sources
Original report: PDF p. 14 ↗
NM: Not meaningful
Financial Highlights — Balance Sheet Highlights
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 202531 Dec 2025; Group; S$'000 | 202431 Dec 2024; Group; S$'000 | Source |
|---|---|---|---|
| Balance Sheet Highlights | |||
| Property, plant and equipmentS$'000 | 35,683 | 35,834 | PDF p. 14 |
| Right-of-use assetsS$'000 | 14,155 | 21,094 | PDF p. 14 |
| Intangible assetsS$'000 | 130,252 | 129,828 | PDF p. 14 |
| InventoriesS$'000 | 226,969 | 296,773 | PDF p. 14 |
| Trade and other receivablesS$'000 | 133,757 | 142,658 | PDF p. 14 |
| Cash and cash equivalentsS$'000 | 77,334 | 43,775 | PDF p. 14 |
| Total assetsS$'000 | 621,603 | 673,175 | PDF p. 14 |
| Loans and borrowingsS$'000 | 16,374 | 94,379 | PDF p. 14 |
| Trade and other payablesS$'000 | 67,640 | 54,018 | PDF p. 14 |
| Total liabilitiesS$'000 | 122,279 | 180,861 | PDF p. 14 |
| Net asset value per share (Singapore cents)Singapore cents per ordinary share | 157.0 | 155.2 | PDF p. 14 |
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Definitions & sources
Original report: PDF p. 14 ↗
Financial Highlights — Cash Flows Statement Highlights
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY2025; Group; S$'000 | 2024FY2024; Group; S$'000 | Source |
|---|---|---|---|
| Cash Flows Statement Highlights | |||
| Net cash generated from/(used in) operating activitiesS$'000 | 135,958 | (17,539) | PDF p. 14 |
| Net cash used in investing activitiesS$'000 | (20,506) | (8,791) | PDF p. 14 |
| Net cash used in financing activitiesS$'000 | (80,713) | (31,753) | PDF p. 14 |
| Net increase/(decrease) in cashS$'000 | 34,739 | (58,083) | PDF p. 14 |
| Cash & cash equivalents as at 31 DecS$'000 | 77,334 | 43,775 | PDF p. 14 |
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Definitions & sources
Original report: PDF p. 14 ↗
Per-share data — Financial highlights
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY2025; Group; Singapore cents per share | 2024FY2024; Group; Singapore cents per share | Source |
|---|---|---|---|
| Financial Position | |||
| Net asset value per share (Singapore cents)Singapore cents per share | 157.0 | 155.2 | PDF p. 14 |
| Financial Highlights | |||
| Diluted Earnings Per ShareSingapore cents per share | 5.35 | 3.65 | PDF p. 14 |
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Definitions & sources
Original report: PDF p. 14 ↗
Narrative performance measures — FY2025 and FY2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Profitability | |||
| PBT margin% | 5.3 | 3.7 | PDF p. 15 |
| Gross margins% | 25.7 | 25.7 | PDF p. 15 |
| Tax expense as a percentage of PBT% | 19.6 | 17.5 | PDF p. 15 |
| Cash Flow and Balance Sheet | |||
| Debt to equitytimes | 0.03 | 0.2 | PDF p. 16 |
| Cash Flow | |||
| Operating cash flowS$ million | 136.0 | -17.5 | PDF p. 15 |
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Definitions & sources
Original report: PDF p. 15 ↗ PDF p. 16 ↗
The source explicitly supplies these comparative values; no absent comparative is inferred.
Narrative performance measures — FY2025
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | Source |
|---|---|---|
| Cash Flow | ||
| Free Cash FlowS$ million | 115.5 | PDF p. 15 |
| EBITDAS$ million | 46.6 | PDF p. 15 |
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Definitions & sources
Original report: PDF p. 15 ↗
Only FY2025 is stated for these narrative measures.
Dividend — proposed final dividend for FY2025
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY2025; proposed final dividend | Source |
|---|---|---|
| Final Dividend Snapshot for FY2025 | ||
| Recommended final dividendSingapore cents per ordinary share | 1.3 | PDF p. 32 |
| Subsequent events | ||
| Final tax exempt one-tier dividendSingapore cents per ordinary share | 1.3 | PDF p. 63 |
| Proposed final dividend — total expected amountSGD | 4,079,000 | PDF p. 63 |
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Definitions & sources
Original report: PDF p. 32 ↗ PDF p. 63 ↗
The report describes the final dividend as proposed/recommended and subject to shareholder approval. The printed snapshot states the ex-dividend date as 7 May 2026; page 63 states the payable date as 22 May 2026.
Financial highlights chart — Revenue
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY2025; Group | 2024FY2024; Group | Source |
|---|---|---|---|
| Financial Highlights chart | |||
| RevenueS$ million | 399.3 | 380.4 | PDF p. 14 |
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Definitions & sources
Original report: PDF p. 14 ↗
Values are printed chart labels; exact chart-series and year binding is in aem-luna-v2-chart-geometry.json.
Financial highlights chart — Profit Before Tax
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY2025; Group | 2024FY2024; Group | Source |
|---|---|---|---|
| Financial Highlights chart | |||
| Profit Before TaxS$ million | 21.3 | 14.1 | PDF p. 14 |
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Definitions & sources
Original report: PDF p. 14 ↗
Values are printed chart labels; exact chart-series and year binding is in aem-luna-v2-chart-geometry.json.
Where the money comes from
Segment information
By business
Information about reportable segments - 2025 (Note 25) 11 lines
| Item / unit | 2025TCS | 2025INS | 2025CM | 2025Others | 2025Elimination | 2025Total | Source |
|---|---|---|---|---|---|---|---|
| Segment information | |||||||
| Revenue from external parties$’000 | 251,406 | 8,409 | 139,523 | – | – | 399,338 | PDF p. 59 |
| Inter-segment revenue$’000 | – | – | 10,483 | – | (10,483) | – | PDF p. 59 |
| Total segment revenue$’000 | 251,406 | 8,409 | 150,006 | – | (10,483) | 399,338 | PDF p. 59 |
| Depreciation and amortisation$’000 | (15,329) | (3,685) | (1,531) | (4,063) | – | (24,608) | PDF p. 59 |
| Finance income$’000 | 1,595 | 19 | 193 | – | – | 1,807 | PDF p. 59 |
| Finance costs$’000 | (2,250) | (2) | (116) | (108) | – | (2,476) | PDF p. 59 |
| Tax (expense)/credit$’000 | (3,711) | (2) | (1,069) | 600 | – | (4,182) | PDF p. 59 |
| Profit/(loss) for the year$’000 | 22,901 | (4,820) | 3,094 | (3,852) | (175) | 17,148 | PDF p. 59 |
| Reportable segment assets$’000 | 420,071 | 27,690 | 159,872 | 13,970 | – | 621,603 | PDF p. 59 |
| Reportable segment liabilities$’000 | 62,493 | 4,882 | 45,354 | 9,550 | – | 122,279 | PDF p. 59 |
| Other segment information | |||||||
| Expenditure for non-current assets$’000 | 24,261 | 1,457 | 4,476 | – | – | 30,194 | PDF p. 59 |
Notes
Segment profit measured on segment profit after tax. Segments: Test Cell Solutions (TCS), Instrumentation (INS), Contract Manufacturing (CM), Others (non allocated, dormant companies and other activities). Currency $’000.
Information about reportable segments - 2024 (Note 25) 12 lines
| Item / unit | 2024TCS | 2024INS | 2024CM | 2024Others | 2024Elimination | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| Segment information | |||||||
| Revenue from external parties$’000 | 230,971 | 8,086 | 141,353 | – | – | 380,410 | PDF p. 60 |
| Inter-segment revenue$’000 | – | – | 12,577 | – | (12,577) | – | PDF p. 60 |
| Total segment revenue$’000 | 230,971 | 8,086 | 153,930 | – | (12,577) | 380,410 | PDF p. 60 |
| Depreciation and amortisation$’000 | (14,264) | (3,282) | (2,132) | (4,786) | – | (24,464) | PDF p. 60 |
| Finance income$’000 | 573 | 18 | 418 | – | – | 1,009 | PDF p. 60 |
| Finance costs$’000 | (4,175) | (6) | (118) | (285) | – | (4,584) | PDF p. 60 |
| Tax (expense)/credit$’000 | (1,180) | (6) | (2,870) | 1,591 | – | (2,465) | PDF p. 60 |
| Share of loss of equity-accounted investee$’000 | – | – | – | (326) | – | (326) | PDF p. 60 |
| Profit/(loss) for the year$’000 | 16,481 | (6,132) | 10,423 | (9,145) | (21) | 11,606 | PDF p. 60 |
| Reportable segment assets$’000 | 463,203 | 35,026 | 163,689 | 11,257 | – | 673,175 | PDF p. 60 |
| Reportable segment liabilities$’000 | 127,015 | 4,009 | 42,384 | 7,453 | – | 180,861 | PDF p. 60 |
| Other segment information | |||||||
| Expenditure for non-current assets$’000 | 22,331 | 2,379 | 1,876 | – | – | 26,586 | PDF p. 60 |
Notes
Comparative year 2024 table continued on next page; currency $’000.
By geography
Geographical information - revenue and non-current assets (Note 25) 14 lines
| Item / unit | 2025Revenue | 2025Non-current assets | 2024Revenue | 2024Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$’000 | 88,179 | 135,640 | 78,275 | 134,602 | PDF p. 60 |
| China$’000 | 13,594 | 5 | 17,185 | 38 | PDF p. 60 |
| Costa Rica$’000 | 16,605 | – | 24,640 | 163 | PDF p. 60 |
| Finland$’000 | 1,905 | 4,794 | 3,965 | 5,475 | PDF p. 60 |
| France$’000 | 1,543 | 8,430 | 1,423 | 9,812 | PDF p. 60 |
| Germany$’000 | 7,399 | – | 6,334 | – | PDF p. 60 |
| Ireland$’000 | 5,141 | – | 7,528 | – | PDF p. 60 |
| Malaysia$’000 | 140,214 | 4,923 | 116,273 | 13,068 | PDF p. 60 |
| Republic of Korea$’000 | 5,596 | 12,701 | 6,610 | 14,269 | PDF p. 60 |
| United Kingdom$’000 | 4,284 | – | 6,169 | – | PDF p. 60 |
| United States of America$’000 | 60,202 | 10,963 | 61,731 | 9,037 | PDF p. 60 |
| Vietnam$’000 | 33,366 | 2,755 | 22,323 | 609 | PDF p. 60 |
| Other countries$’000 | 21,310 | 1,390 | 27,954 | 1,283 | PDF p. 60 |
| Total$’000 | 399,338 | 181,601 | 380,410 | 188,356 | PDF p. 60 |
Notes
Segment revenue is based on the geographical location of customers. Segment assets are based on the geographical location of the assets.
Major customers: Revenue from one customer of the Group’s Test Cell Solutions segment represents approximately $152,075,000 (2024: $189,245,000) of the Group’s total revenues.
Debt
Borrowings
Terms and debt repayment schedule (interest rate, maturity, face value, carrying amount)
| Item / unit | 2025Nominal interest rate % | 2025Year of maturity | 2025Face value $'000 | 2025Carrying amount $'000 | 2024Face value $'000 | 2024Carrying amount $'000 | Source |
|---|---|---|---|---|---|---|---|
| Company | |||||||
| Lease liabilities$'000; rate in % | 4.89 | 2025 | – | – | 69 | 67 | PDF p. 54 |
Notes
Printed header: Nominal interest rate %, Year of maturity, Face value $’000, Carrying amount $’000 for 2025 and 2024. The rate and maturity printed apply to the row; the 0.65% - 1.45% + SORA unsecured loan matured 2025 with only 2024 amounts. The 'Group total' row is unlabelled; its cells map to 2025 face/carrying and 2024 face/carrying.
Liquidity risk: remaining contractual maturities of financial liabilities - Group, 31 December
| Item / unit | 2025Group carrying amount $'000 | 2025Group contractual cash flows $'000 | 2025Group within 1 year $'000 | 2025Group within 1 to 5 years $'000 | 2025Group more than 5 years $'000 | 2024Group carrying amount $'000 | 2024Group contractual cash flows $'000 | 2024Group within 1 year $'000 | 2024Group within 1 to 5 years $'000 | 2024Group more than 5 years $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group 31 December | |||||||||||
| Lease liabilities$'000 | 13,314 | (15,452) | (4,418) | (7,356) | (3,678) | 21,622 | (22,917) | (6,527) | (13,760) | (2,630) | PDF p. 61 |
| Secured bank loans$'000 | 2,750 | (2,804) | (2,782) | (22) | – | 3,094 | (3,164) | (3,099) | (65) | – | PDF p. 61 |
| Unsecured bank loans$'000 | 310 | (313) | (313) | – | – | 69,663 | (70,647) | (70,448) | (199) | – | PDF p. 61 |
Notes
Amounts are gross and undiscounted, and include contractual interest payments. The maturity analyses show the contractual undiscounted cash flows of the Group and the Company’s financial liabilities on the basis of their earliest possible contractual maturity. Trade and other payables rows omitted as non-debt.
Amounts are gross and undiscounted, and include contractual interest payments. Trade and other payables rows omitted as non-debt. Unsecured bank loan carrying amount 69,663 here differs from note 14 total (69,000 + 663 = 69,663), as printed.
Borrowing notes 3 tables
Loans and borrowings
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Non-current liabilities | |||||
| Lease liabilities$'000 | 9,307 | 15,675 | – | – | PDF p. 54 |
| Secured bank loans$'000 | 22 | 65 | – | – | PDF p. 54 |
| Unsecured bank loans$'000 | – | 155 | – | – | PDF p. 54 |
| Non-current subtotal (unlabelled)$'000 | 9,329 | 15,895 | – | – | PDF p. 54 |
| Current liabilities | |||||
| Lease liabilities$'000 | 4,007 | 5,947 | – | 67 | PDF p. 54 |
| Secured bank loans$'000 | 2,728 | 3,029 | – | – | PDF p. 54 |
| Unsecured bank loans$'000 | 310 | 69,508 | – | – | PDF p. 54 |
| Current subtotal (unlabelled)$'000 | 7,045 | 78,484 | – | 67 | PDF p. 54 |
| Total | |||||
| Total loans and borrowings$'000 | 16,374 | 94,379 | – | 67 | PDF p. 54 |
Notes
The secured bank loans are secured over land and building with carrying amounts of $4,001,000 (2024: $4,268,000), and plant and equipment of $76,000 (2024: $171,000).
As at 31 December 2025, the lease liabilities include office and warehouse leases.
The total cash outflow for leases recognised in the statement of cash flows is $7,847,000 (2024: $8,947,000).
Balance sheet (p.39) shows Loans and borrowings non-current 9,329/15,895 and current 7,045/78,484 for Group.
Liquidity risk - Company lease liabilities, 31 December 2024
| Item / unit | 2024Company carrying amount $'000 | 2024Company contractual cash flows $'000 | 2024Company within 1 year $'000 | 2024Company within 1 to 5 years $'000 | 2024Company more than 5 years $'000 | Source |
|---|---|---|---|---|---|---|
| Company 31 December 2024 | ||||||
| Lease liabilities$'000 | 67 | (69) | (69) | – | – | PDF p. 61 |
Notes
No Company borrowings or lease liabilities are listed for 31 December 2025.
Reconciliation of movements of liabilities to cash flows from financing activities
| Item / unit | 2025Group Borrowings $'000 | 2025Group Lease liabilities $'000 | 2025Group Total $'000 | Source |
|---|---|---|---|---|
| 2025 | ||||
| Balance at 1 January 2025$'000 | 72,757 | 21,622 | 94,379 | PDF p. 54 |
| Proceeds from borrowings$'000 | 32,800 | – | 32,800 | PDF p. 54 |
| Repayment of borrowings$'000 | (100,331) | – | (100,331) | PDF p. 54 |
| Balance at 31 December 2025$'000 | 3,060 | 13,314 | 16,374 | PDF p. 54 |
Notes
Only selected rows extracted; the 2024 comparative movements are on the same page (Balance at 1 January 2024 92,003 / 34,352 / 126,355; balance at 31 December 2024 72,757 / 21,622 / 94,379).
Payout
Dividends & distributions
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Recommended final dividend | 1.3 Singapore cents per ordinary share | FY2025 final dividend, tax exempt one-tier, recommended/proposed (subject to shareholder approval) | PDF p. 32 |
| Record Date | 8 May 2026 | FY2025 final dividend | PDF p. 32 |
| Payment Date | 22 May 2026 | FY2025 final dividend | PDF p. 32 |
Extracted from 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 |
|---|---|---|---|
| Engagement partner | Yeo Lik Khim | Group and Company | PDF p. 39 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment of goodwill | Impairment of goodwill | Group | PDF p. 38 |
Extracted from 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 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.