VibroPower Reports FY2025 Loss Amid Revenue Decline and Impairments
Summary:
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Significant Revenue Decline: VibroPower Corporation Limited's revenue dropped by 62.9% year-over-year, from S$13.6 million in FY2024 to S$5.1 million in FY2025, primarily due to reduced demand in its core operations.
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Net Loss Incurred: The company reported a net loss of S$3.9 million for FY2025, a reversal from the previous year's net profit of S$172,000, driven by lower gross profit and increased impairment losses.
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Impairment Losses Recorded: A provision for impairment losses on financial assets amounted to S$803,000, compared to a reversal of S$1.2 million in FY2024, indicating deteriorating asset quality.
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Discontinued Operations Impact: The discontinued operation, Shanxi Weineng Coal Mine Gas Development Co., Ltd., contributed a profit of S$637,000, partially offsetting losses from continuing operations.
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Asset Base Reduction: Total assets decreased from S$21.6 million in FY2024 to S$16.5 million in FY2025, reflecting asset disposals and impairments.
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Liabilities Decreased: Total liabilities reduced from S$10.9 million to S$6.1 million, mainly due to repayment of borrowings and lease liabilities.
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No Dividend Declared: In light of the losses incurred, the company did not declare any dividend for FY2025.
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Audit Opinion: The financial statements received an unqualified audit opinion, indicating that they present a true and fair view of the company's financial position.