Ten-League International Holdings Limited Reports Fiscal Year 2025 Financial Results
SINGAPORE, April 30, 2026 (GLOBE NEWSWIRE) -- Ten-League International Holdings Limited (Nasdaq: TLIH) (the “Company” or “Ten-League”), a Singapore-based provider of turnkey project solutions, today announced its financial results for the fiscal year ended December 31, 2025.
Fiscal Year 2025 Financial Highlights
Mr. Jison Lim, Chief Executive Officer and Chairman of Ten-League, commented, “We are pleased to report strong financial performance for fiscal year 2025, reflecting solid execution and sustained demand across Singapore’s infrastructure sector. Revenue increased by 30.2% year-over-year, driven by higher sales of heavy equipment and parts, as well as increased rental income, supported by major projects such as Changi Airport Terminal 5, the Marina Bay Sands expansion, and key Mass Rapid Transit (“MRT”) developments. Gross profit margin improved by 6.2 percentage points to 24.4%, primarily due to a more favorable product mix and higher utilization of our own equipment, while net income grew significantly by 196.5%.”
“During the period, we also completed our initial public offering (the “IPO”). Our ordinary shares commenced trading on the Nasdaq Capital Market on July 8, 2025, marking an important milestone that strengthened our financial position and enhanced our access to capital. In addition, on the operation side, we secured a new order from PSA Corporation Limited and completed a project handover to Bachy Soletanche Singapore Pte. Ltd for deployment in the Cross Island Line project, further strengthening our market position and partnerships.”
“Looking ahead, we will continue to expand our equipment offerings and support major infrastructure programs in Singapore, especially in alignment with the Singapore government’s efforts to develop a more sustainable land transport sector. We also plan to deepen collaboration with strategic partners, while enhancing our value-added engineering solutions to capture long-term growth opportunities. We remain confident in our ability to sustain growth and deliver long-term value to our shareholders.”
Fiscal Year 2025 Financial Results
Revenues
Total revenues were S$76.2 million (US$59.2 million) for fiscal year 2025, an increase of 30.2% from S$58.5 million for fiscal year 2024.
Cost of Revenue
Cost of revenue was S$57.6 million (US$44.8 million) for fiscal year 2025, an increase of 20.3% from S$47.8 million for fiscal year 2024.
Gross Profit
Gross profit was S$18.6 million (US$14.5 million) for fiscal year 2025, an increase of 74.7% from S$10.7 million for fiscal year 2024.
Gross margin was 24.4% for fiscal year 2025, an increase of 6.2 percentage points from 18.2% for fiscal year 2024.
Selling and Distribution Expenses
Selling and distribution expenses were S$0.8 million (US$0.6 million) for fiscal year 2025, an increase of 19.7% from S$0.6 million for fiscal year 2024. The increment was mainly due to increase in staff commission as a result of higher sales.
General and Administrative Expenses
General and administrative expenses were S$10.7 million (US$8.3 million) for fiscal year 2025, an increase of 47.6% from S$7.2 million for fiscal year 2024. The increase was mainly due to the increase in the group audit fee, consultancy fee, depreciation for the right-of-use assets, directors fees, provision for doubtful debts, staff costs and IPO expenses cannot be capitalized.
Total Other Loss, Net
Net total other losses were S$0.1 million (US$0.1 million) for fiscal year 2025, a decrease of 85.2% from S$0.2 million for fiscal year 2024. The decrease was mainly due to: (i) decrease in interest income of approximately S$0.3 million due to lower finance leases taken up; (ii) decrease in government grant collection of approximately S$0.1 million as most of the funding were ended; and (iii) offset by exchange gain of approximately S$0.1 million, lower loss on disposal of plant & equipment of approximately S$0.1 million and increase in income received for renting out accessories and parts and higher service income of approximately S$0.3 million.
Net Income
Net income was S$5.6 million (US$4.3 million) for fiscal year 2025, an increase of 196.5% from S$1.9 million for fiscal year 2024.
Basic and Diluted Income per Share
Basic and diluted income per share was S$0.20 (US$0.15) for fiscal year 2025, compared to S$0.07 for fiscal year 2024.
Financial Condition
As of December 31, 2025, the Company had cash and cash equivalents of S$10.7 million (US$8.3 million), compared to S$0.7 million as of December 31, 2024, strengthening its financial position following its successful IPO.
Net cash provided by operating activities was S$26.2 million (US$20.4 million) for fiscal year 2025, compared to S$5.0 million for fiscal year 2024.
Net cash used in investing activities was S$16.5 million (US$12.9 million) for fiscal year 2025, compared to S$8.7 million for fiscal year 2024.
Net cash provided by financing activities was S$0.3 million (US$0.2 million) for fiscal year 2025, compared to S$2.1 million for fiscal year 2024.
Exchange Rate Information
This announcement contains translations of certain Singapore dollar amounts into U.S. dollars for the convenience of the reader. Translations of amounts from Singapore dollars into U.S. dollars have been made at the exchange rate of US$0.7777 = S$1.00, which is the exchange rate on December 31, 2025, as set forth in the statistical release of the Federal Reserve System on January 6, 2026.
About Ten-League International Holdings Limited
Ten-League International Holdings Limited is a Singapore-based provider of turnkey project solutions. The Company’s business primarily consists of sales of heavy equipment and parts, heavy equipment rental and provision of engineering consultancy services to port, construction, civil engineering and underground foundation industries. The equipment is organized into four categories based on their functions and application scenarios: foundation equipment, hoist equipment, excavation equipment and port machinery. The Company also provides value-added engineering solutions under engineering consultancy services with the aim to address potential safety issues, enhance reliability and productivity and allow for customers to evaluate the performance of the equipment, the quality of the work completed and the progress of their projects. Ten-League’s mission is to provide high-quality equipment, value-added engineering solutions as well as maintenance and repair through continuous adaptation and application of new technologies. For more information, please visit the Company’s website: https://ir.ten-league.com.sg/.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company’s Annual Reports on Form 20-F, as may be supplemented or amended by the Company’s Reports of a Foreign Private Issuer on Form 6-K.
For investor and media inquiries, please contact:
Ten-League International Holdings Limited
Investor Relations Department
Email: ir@ten-league.com.sg
Ascent Investor Relations LLC
Tina Xiao
Phone: +1 646-932-7242
Email: investors@ascent-ir.com