Ten-League Reports 30.2% Revenue Growth and 196.5% Net Income Surge
Ten-League International posted fiscal 2025 revenue of S$76.2 million (US$59.2 million), a 30.2% increase year-over-year, with gross profit rising 74.7% to S$18.6 million and margin expanding to 24.4%. Net income more than doubled to S$5.6 million (US$4.3 million), driven by heavy equipment sales on projects like Changi Airport Terminal 5 and higher rental utilization.
1. Fiscal Year 2025 Financial Results Overview
Ten-League posted revenue of S$76.2 million (US$59.2 million) in fiscal 2025, up 30.2%, and net income rose 196.5% to S$5.6 million (US$4.3 million). Gross profit increased 74.7% to S$18.6 million with margin expanding 6.2 percentage points to 24.4%.
2. Segment Performance Driving Profit
Sales of heavy equipment and parts reached S$61.2 million (US$47.6 million), a 33.8% rise supported by major infrastructure projects including Changi Airport Terminal 5 and the Marina Bay Sands expansion. Rental income climbed 21.1% to S$12.8 million (US$9.9 million), benefiting from higher own-equipment utilization which improved rental margins to 60.8%.
3. IPO Completion and Strategic Contracts
The company completed its IPO on the Nasdaq Capital Market on July 8, 2025, strengthening its capital base. Ten-League secured a new order from PSA Corporation and handed over a Cross Island Line project to Bachy Soletanche Singapore, enhancing its project pipeline.
4. Outlook and Growth Initiatives
Management plans to expand equipment offerings, support Singapore’s sustainable land transport programs, and deepen collaborations with strategic partners. Enhanced value-added engineering solutions aim to capture long-term growth in the infrastructure sector.