Union Gas (SGX:1F2
) has reported 15.8% y-o-y lower earnings for FY2025, ended Dec 31, 2025 of $10.5 million.
Revenue for the reporting period came in 9.9% y-o-y higher at $137.9 million, which is the highest since listing. Gross profit grew 1.9% y-o-y to $48.3 million.
The higher revenue was largely driven by contribution from its liquid fuel, electric vehicle (EV) charging services and industrial gases business segment.
Liquid fuel segment registered a revenue jump of almost two-fold to $30.3 million, driven by higher sales volumes of liquid fuels and contribution from the recently opened Dunman Road service station.
Revenue for the EV charging services segment went up to $0.9 million due to higher sales volumes of EV charging services in line with the higher number of charging nozzles.
Industrial gases segment also saw a higher revenue due to higher demand from industrial customers during the year.
See also: Innotek reports lower earnings of $2.0 mil for FY2025, down 65.6% y-o-y
Gross profit grew 1.9% y-o-y to $48.3 million, mainly due to the higher revenue.
Gross profit margin declined 2.8 percentage points to 35.0% due to higher cost of sales as well as increased depreciation for capital expenditures and right-of-use assets for the newly secured service station in FY2025.
As at Dec 31, 2025, Union Gas’s cash and cash equivalent improved to $14.8 million compared to $12.6 million as at Dec 31,2024.
Net asset value improved to 24.55 cents in FY2025 from 24.41 cents in FY2024.
The board has proposed a proposed a final dividend of 1 cent per share for FY2025.
Together with the interim dividend of 0.48 cents per share, total dividend for the year is 1.48 cents per share, translates to about 44.7% of net profit in FY2025.
“We remain disciplined in managing costs and focused on delivering consistent value to our shareholders,” states Teo Hark Piang, executive director and CEO of Union Gas.
Shares in Union Gas closed flat at 38 cents on Feb 26.
