Ever Glory United, which transferred to the Mainboard in December 2025, has reported earnings of $16.6 million for the FY2025 ended Dec 31, 2025, 85% higher y-o-y.
Revenue grew by 43% y-o-y to $106.7 million mainly due to the consolidation of Guthrie Engineering’s results in the second half of the year, along with progress in ongoing projects from the group’s subsidiaries, Sunbeam M&E and Fire-Guard Engineering. The group acquired Guthrie Engineering on July 1, 2025.
Gross profit surged by 78% y-o-y to $19.9 million while gross profit margin rose by 3.8 percentage points y-o-y to 18.7%. According to the group, the higher margins reflects its enhanced bargaining power, operational synergies from integrated project management and the inclusion of higher-margin specialist engineering works.
Net profit margin also increased by 3.5 percentage points y-o-y to 15.5%.
Earnings per share (EPS) rose to 4.63 cents from 2.62 cents on a diluted basis.
As at Dec 31, 2025, the group has a record order book of $732.8 million, which secures earnings visibility through 2027. The group secured $508 million worth of contracts in FY2025.
Looking ahead, the group is upbeat over its prospects given Singapore’s buoyant construction sector. The Building and Construction Authority (BCA) projects construction demand to reach a historical high of between $47 billion and $53 billion in 2026 from major public sector developments including Changi Airport’s Terminal 5, the expansion of the Marina Bay Sands integrated resorts and new healthcare facilities.
“FY2025 has been a transformative year for the group, marking not only our strong financial performance but the beginning of an even more promising future,” says Xu Ruibing, Ever Glory’s CEO and executive director.
“As we advance into FY2026, we're strategically positioning ourselves to capitalise on emerging opportunities in Singapore's dynamic infrastructure landscape. Our focus extends beyond executing today's contracts to strengthening our integrated capabilities, expanding our technical expertise, and forging new partnerships that will define the next chapter of our growth,” he adds.
See also: Geo Energy generates higher sales but higher costs lowers FY2025 earnings
Ever Glory has proposed a final dividend of 1 cent per ordinary share, along with a bonus share. Details of the latter will be disclosed at a later date.
Shares in Ever Glory closed 5.23% up or 4 cents higher at 80.5 cents on Feb 27.
