Serial System Ltd · SGX:S69
Serial System — FY2025 Earnings Presentation
21 slides from Serial System's earnings presentation, Feb 25, 2026
Slide 1: Serial System Ltd FY2025 & 2H2025 Results Presentation
SERIAL SYSTEM LTD FY2025 & 2H2025 Results Presentation Wednesday, 25 February 2026 1
Slide 2: Agenda
By moving forward and thinking forward, Serial System helps its partners to be more competitive in the marketplace, today and in the future AGENDA FINANCIAL RESULTS CORPORATE OVERVIEW OUTLOOK
Slide 3: Financial Results
tis FINANCIAL Ra _ RESULTS oa
Slide 4: Snapshot of FY2025 and 2H2025 Performance
Snapshot Of FY2025 And 2H2025 Performance US$’000 2H2025 2H2024 Change (%) FY2025 FY2024 Change (%) Sales 467,804 413,947 13 860,468 788,663 9 Gross Profit 33,814 30,633 10 66,423 58,493 14 Gross Profit Margin (%) 7.2 7.4 -0.2 ppt 7.7 7.4 0.3 ppt Net Profit After Tax 1,483 5,696 -74 2,293 516 344 (A
Slide 5: FY2025 Highlights
FY2025 Highlights Revenue in FY2025 increased 9% year-on-year to US$860.5M from US$788.7M in FY2024 Turnover for the electronic components distribution business increased by 10% to US$741.7 million in FY2025, due to higher sales from the mobile, household appliances, automotive and computing sec
Slide 6: 2H2025 Highlights
2H2025 Highlights Revenue in 2H2025 increased 13% to US$467.8M from US$413.9M in 2H2024 Turnover for the electronic components distribution business increased by 20% to US$409.7 million in 2H2025, with all regions recording growth amid improved demand in the semiconductor industry, particularly
Slide 7: Revenue Trend
Revenue Trend Revenue (US$' million) 1,600 1,527 1,492 1,403 1,400 1,222 1,200 2% 1,036 1,000 6% -48% 896 907 860 817 792 789 15% 759 800 731 1% 658 9% 616 18% 545 22% 4% 600 27% 468 -8% 8% -16% 16% 414 375 393 400 24% 7% 13% 200 13% 5% - 7
Slide 8: Profitability: Gross Profit & Margin
Profitability Gross Profit & Gross Profit Margin (US$' million) 10.0% 9.5% 140.0 9.3% 9.3% 9.0% 8.7% 9.0% 7.8% 8.1% 8.3% 8.1% 120.0 7.5% 7.8% 7.7% 8.0% 7.4% 7.4% 7.0% 6.9% 6.8% 7.0% 118.6 100.0 6.3% 7.4% 7.2% 91.5 97.4 105.1 6.0% -54% 90.4 80.0 13% 5.0% 73.0 73.5 8% 73.8 66.4 60.0 4.0% 62.6 6% 1% 58
Slide 9: Profitability: Net Profit & Margin
Profitability Net Profit & Net Profit Margin (US$' million) 20.0 2.2% 2.5% 18.0 16.1 17.7 16.0 2.0% 1.6% 44% 14.0 1.6% 85% 1.4% 1.5% 12.0 1.2% 11.0 1.2% 1.2% 12.0 9.6 1.0% 10.0 -59% 10.1 11.1 1.4% 1.0% 8.0 7.9 11.2 0.9% 4,181% 0.6% 8.0 6.0 41% 0.3% -55% 344% 5.7 0.3% 0.5% -31% 0.2% 4.0 0.04% -21% 4.
Slide 10: Profitability: EBITDA
Profitability EBITDA (US$' million) 50.0 44.8 45.0 40.0 35.0 30.8 30.0 27.4 -47% 26.0 24.4 23.7 25.0 64% 22.0 20.2 20.8 19.9 12% 20.0 18.9 -6% -44% -54% 16.3 15.9 15.0 -15% 13.2 13.3 40% -3% 9.6 -36 10.0 58% 8.5 17% 455% 7.3 -5% 5.0 2.9 3.1 -2% -69% 135% - FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY1
Slide 11: Financial Position: Current Ratio
Financial Position Maintaining Healthy Current Ratio 1.6 500.0 1.5 1.4 1.4 468.6 1.4 1.5 1.4 458.5 1.3 1.3 430.6 1.3 1.4 1.3 1.3 1.2 398.3 400.0 382.6 1.2 397.5 1.2 1.2 379.1 1.2 371.5 373.6 1.2 372.0 349.7 347.8 340.8 341.7 332.2 324.1 300.2 292.7 1.0 295.6 300.0 277.0 274.0 258.2 254.2 234.0 0.8 2
Slide 12: Financial Position: Net Gearing Ratio
Financial Position Net Gearing Ratio 140% 180.0 166.5 168.2 119% 167.5 116% 161.4 120% 160.0 115% 155.9 157.2 120% 112% 151.7 108% 147.2 148.6 138.0 100% 139.3 140.0 98% 113% 145.0 133.2 131.8 100% 89% 139.3 144.5 122.2 120.2 124.8 133.4133.6 120.0 119.4 104.5 110.0 80% 100.0 98.7 97.9 83% 86.5 72%
Slide 13: Financial Position: Cash Conversion Cycle
Financial Position Cash Conversion Cycle (days) 145 125 127 113 108 105 105 96 97 87 89 82 85 70 72 70 77 67 78 66 69 62 58 75 65 66 55 56 65 51 58 66 58 61 60 54 65 62 51 61 41 53 51 45 49 40 54 40 37 44 36 33 38 41 38 32 42 30 30 38 30 32 35 29 25 31 33 32 33 33 30 FY10 FY11 FY12 FY13 FY14 FY15 FY
Slide 14: Dividend Yield
Dividend Yield 0.11 1.3% FY25 0.11 1.2% FY22 Total DivIdend Payout (In Cent (SGD)) 0.22 0.45 6.0% FY21 (Interim & Final) each year 0.11 1.3% FY20 0.22 0.13 4.3% FY19 0.40 1.00 0.46 21.9% FY18 0.29 0.46 4.6% FY17 0.18 0.17 2.4% FY16 0.35 0.50 6.3% FY15 FY14 0.30 0.75 8.0% 0.24 0.25 0.30 6.3% FY13 0.2
Slide 15: Corporate Overview
CORPORATE OVERVIEW 15
Slide 16: Serial System At A Glance
Serial System At A Glance Electronic Components* One of Asia Pacific’s FY2025 : 86% largest electronic FY2024 : 85% distribution networks FY2025 FY2024 Hong Kong 50% 50% Total Shares: China 25% 21% 905 million Free Float: 38% SERIAL Southeast Asia & India 14% 18% SYSTEM South Korea 7% 6% listed in T
Slide 17: Outlook
OUTLOOK
Slide 18: Industry Outlook
Industry Outlook Bright Spots Structural demand drivers in artificial intelligence and related applications, cloud computing, electric vehicles, renewable energy and other advanced technology applications are expected to continue supporting semiconductor consumption in 2026 China’s ongoing effor
Slide 19: Group Outlook
Group Outlook • The Group’s electronic components distribution business remains focused on broadening its product portfolio and strengthening its capabilities in growth segments • The Group’s consumer products distribution business is expected to operate in a competitive environment in 2026, shaped
Slide 20: Forward-looking statements disclaimer
The presentation herein may contain forward-looking statements by the management of Serial System Ltd (“Serial System”) that pertain to expectations for financial performance of future periods versus past periods. Forward–looking statements involve certain risks and uncertainties because they relate
Slide 21: Thank You
Thank You Serial System Ltd 8 Ubi View #05-01 Serial System Building Singapore 408554 Tel: (65) 6510 2408 Fax: (65) 6547 1462 [email protected]