“We are pleased to deliver strong operational and financial results for the full year, underpinned by our diversified export model and disciplined capital management,” said Ms.
| Key Financial Highlights | ||||||||||||||||||
| FY2024 | FY2025 | Chg | 4Q2024 | 4Q2025 | Chg | |||||||||||||
| US$’000 | US$’000 | (%) | US$’000 | US$’000 | (%) | |||||||||||||
| Net revenue | 335,061 | 377,876 | 13 | % | 96,097 | 102,799 | 7 | % | ||||||||||
| Export | 312,043 | 349,599 | 12 | % | 88,491 | 94,690 | 7 | % | ||||||||||
| Retail | 4,564 | 9,116 | 100 | % | 1,620 | 3,429 | 112 | % | ||||||||||
| Leather | 18,454 | 19,161 | 4 | % | 5,986 | 4,680 | (22 | )% | ||||||||||
| By geographical | 335,061 | 377,876 | 13 | % | 96,097 | 102,799 | 7 | % | ||||||||||
| 95,848 | 101,606 | 6 | % | 25,510 | 26,469 | 4 | % | |||||||||||
| 196,592 | 225,547 | 15 | % | 58,730 | 59,605 | 1 | % | |||||||||||
| 42,621 | 50,723 | 19 | % | 11,857 | 16,725 | 41 | % | |||||||||||
| Gross profit | 83,028 | 105,305 | 27 | % | 22,147 | 29,171 | 32 | % | ||||||||||
| Gross margin (%) | 24.8 | % | 27.9 | % | 3.1 pp | 23.0 | % | 28.4 | % | 5.4 pp | ||||||||
| Operating expenses | 73,516 | 85,934 | 17 | % | 20,940 | 23,776 | 14 | % | ||||||||||
| Selling expenses | 54,727 | 66,332 | 21 | % | 15,076 | 18,958 | 26 | % | ||||||||||
| General and Administrative | 17,349 | 18,337 | 6 | % | 4,910 | 4,525 | (8 | )% | ||||||||||
| Listing expenses | 1,440 | 1,265 | (12 | )% | 953 | 293 | (69 | )% | ||||||||||
| Income from operations | 9,512 | 19,371 | 104 | % | 1,207 | 5,395 | 347 | % | ||||||||||
| Net income | 8,421 | 16,554 | 97 | % | 742 | 3,396 | 358 | % | ||||||||||
| Earnings per share (Basic and diluted) | 0.094 | 0.185 | 97 | % | 0.008 | 0.038 | 358 | % | ||||||||||
Financial results for FY2025, the fiscal year ended
FY2025 Performance
The Company reported a 13% year-on-year (“YoY”) increase in net revenue to
For FY2025, total operating expenses rose 17% YoY to
General and administrative expenses rose 6% to
The Company reported foreign exchange gains of
Net income for FY2025 rose 97% to
4Q2025 Performance
The Company reported revenue of
Gross profit increased by 32% to
Financial Position
In FY2025, cash flow generated from operating activities increased significantly from
As of
Outlook
The Company estimates its FY2026 revenue to range between
HomesToLife expects that it will continue to be supported by its robust balance sheet and will practice disciplined capital deployment to ensure that it is well positioned to capture new opportunities for future growth.
The Company also plans to monitor geopolitical developments in the
About
Leveraging more than 50 years of heritage built by its founders, the Company combines retail, distribution, and sourcing, supported by a diversified manufacturing network across
In
The Company is fast expanding across
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 financial condition, results of operations, business strategy and financial needs of the Company and its subsidiaries. Forward-looking statements can be identified by the words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” 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
Contacts
HomesToLife Ltd Contact:
Email: Investor@homestolife.com
Investor Relations Inquiries:
HomesToLife@edelmansmithfield.com
CONSOLIDATED AND COMBINED BALANCE SHEETS (Currency expressed in | ||||||||
| As of | ||||||||
| 2024 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 24,860,621 | $ | 27,276,091 | ||||
| Accounts receivable, net (including receivable from related parties of | 66,928,602 | 76,010,709 | ||||||
| Inventories, net | 8,032,089 | 9,599,490 | ||||||
| Amounts due from related parties | 2,807,854 | 7,026,092 | ||||||
| Deposit, prepayments and other receivables | 5,145,372 | 5,853,470 | ||||||
| Total current assets | 107,774,538 | 125,765,852 | ||||||
| Non-current assets: | ||||||||
| Property, plant and equipment, net | 3,734,157 | 4,354,206 | ||||||
| Right-of-use assets, net | 6,632,749 | 7,363,312 | ||||||
| Other non-current assets | - | 1,000,000 | ||||||
| Deferred tax asset, net | 636,581 | 673,416 | ||||||
| Total non-current assets | 11,003,487 | 13,390,934 | ||||||
| TOTAL ASSETS | $ | 118,778,025 | $ | 139,156,786 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 2,701,283 | $ | 4,475,242 | ||||
| Accounts payable, related parties | 72,724,799 | 74,890,989 | ||||||
| Customer deposits | 853,626 | 1,195,989 | ||||||
| Accrued liabilities and other payables | 4,428,806 | 6,065,126 | ||||||
| Short-term borrowings | 15,255,874 | 10,389,094 | ||||||
| Amounts due to related parties | 292,753 | - | ||||||
| Lease liabilities, current | 2,100,281 | 1,924,657 | ||||||
| Warranty liabilities | 2,095,842 | 2,188,814 | ||||||
| Derivatives financial instruments | - | 74,765 | ||||||
| Income tax payable | 2,467,506 | 4,156,085 | ||||||
| Total current liabilities | 102,920,770 | 105,360,761 | ||||||
| Long-term liabilities: | ||||||||
| Provision for reinstatement cost | 262,479 | 382,112 | ||||||
| Lease liabilities | 4,883,321 | 5,572,603 | ||||||
| Total long-term liabilities | 5,145,800 | 5,954,715 | ||||||
| TOTAL LIABILITIES | 108,066,570 | 111,315,476 | ||||||
| Commitments and contingencies | - | - | ||||||
| Shareholders’ equity: | ||||||||
| Ordinary share, | 8,969 | 8,969 | ||||||
| Additional paid-in capital | 37,179,424 | 37,179,424 | ||||||
| Accumulated other comprehensive loss | (12,686,896 | ) | (12,111,193 | ) | ||||
| (Accumulated losses) retained earnings | (13,790,042 | ) | 2,764,110 | |||||
| Total shareholders’ equity | 10,711,455 | 27,841,310 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 118,778,025 | $ | 139,156,786 | ||||
| * | The shares amounts are presented on a retroactive basis, giving the effect from the completion of common control acquisition. |
CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Currency expressed in | ||||||||||||
| Years ended | ||||||||||||
| 2023 | 2024 | 2025 | ||||||||||
| Revenues, net | ||||||||||||
| From third parties | $ | 316,003,465 | $ | 315,867,933 | $ | 356,187,074 | ||||||
| From related parties | 9,981,004 | 19,192,918 | 21,689,049 | |||||||||
| 325,984,469 | 335,060,851 | 377,876,123 | ||||||||||
| Cost of goods sold | (239,738,076 | ) | (252,032,836 | ) | (272,571,322 | ) | ||||||
| Gross profit | 86,246,393 | 83,028,015 | 105,304,801 | |||||||||
| Operating expenses: | ||||||||||||
| Sales and distribution expenses | (51,622,790 | ) | (54,727,281 | ) | (66,331,518 | ) | ||||||
| General and administrative expenses | (17,400,101 | ) | (17,348,952 | ) | (18,336,882 | ) | ||||||
| Listing expenses | - | (1,440,130 | ) | (1,265,042 | ) | |||||||
| Total operating expenses | (69,022,891 | ) | (73,516,363 | ) | (85,933,442 | ) | ||||||
| Income from operations | 17,223,502 | 9,511,652 | 19,371,359 | |||||||||
| Total other (expense) income, net | (5,042,120 | ) | 1,324,861 | 1,382,613 | ||||||||
| Income before income taxes | 12,181,382 | 10,836,513 | 20,753,972 | |||||||||
| Income tax expense | (1,864,201 | ) | (2,415,742 | ) | (4,199,820 | ) | ||||||
| NET INCOME | $ | 10,317,181 | $ | 8,420,771 | $ | 16,554,152 | ||||||
