ASL Marine Holdings Ltd. more than doubled net profit to S$33.3 million for the year ended Jun 30 (FY2026), up 128.3 per cent year-on-year, as higher chartering income and wider margins offset softer cash generation.
Revenue edged up 3.0 per cent to S$360.7 million. The board proposed a final dividend of 0.17 Singapore cents a share, lifting the full-year payout to 0.30 cent—50 per cent higher than the preceding year.
Group gross profit expanded 27.0 per cent to S$77.0 million, raising the gross margin to 21.4 per cent from 17.3 per cent. EBITDA improved 7.1 per cent to S$84.7 million, while adjusted EBITDA rose 11.7 per cent to S$93.5 million. Finance costs dropped 66 per cent to S$7.3 million as deleveraging continued, reducing net gearing to 0.59 times from 1.32 times.
Ship Chartering was the main growth engine, supported by better utilisation and pricing, while Shipbuilding and Ship Repairs saw margin expansion. The group closed the year with an outstanding chartering order book of about S$61 million for contracts exceeding 12 months.
Cash flow from operations remained robust at S$49.5 million (FY2025: S$50.5 million). Net cash used in financing activities narrowed to S$64.6 million, aided by lower interest payments and higher inflows from trust-receipt financing. Cash and cash equivalents climbed 31.6 per cent to S$30.1 million, and total liabilities fell by S$100.1 million to S$287.0 million.
Management said the results reflect progress in shifting towards a service-centric model grounded in stable Ship Repairs demand and ongoing cost discipline. They underscored plans to maintain financial resilience while selectively investing for growth and returning capital to shareholders.
Looking ahead, the group expects Asian shipping activity, Singapore’s S$100 billion coastal-protection programme and the proposed New Western Island land-reclamation project to underpin demand for dredging and marine infrastructure support. ASL Marine will persist with fleet optimisation—disposing non-core or ageing vessels and renewing its fleet—and will target higher-value shipbuilding contracts with reputable owners to diversify revenue streams.