Tuas Limited

I would now like to hand the conference over to Mr. Richard Tan, CEO. Please go ahead.

Good morning, all. I'm Richard Tan, CEO of Simba Telecom, the main operating vehicle of the TWAS Group. Also joining me on the call are TWAS Executive Chairman David Teo and Simba Telecom's CFO, Harry Wong. It is my pleasure today to share with you the FY25 first half results of Toys Limited covering the period 1st August 2024 to 31st January 2025. Slide 2 lays out the agenda of this presentation, starting with Harry running through the financials. I will then cover the business updates and outlook. Finally, we'll reserve some time for Q&A. Do again note that the numbers reported are all in Singapore dollars. I will now hand you over to Harry.

Good morning, everyone. My name is Harry Wong, CFO of Simba Telecom. I'll be presenting the financials of the TWAS Group. On slide three, you can see that we achieved a notable improvement in the financial results during the first half of FY25 when compared to the same period of FY24. Revenue for the half year is 73.2 million, up from 54.7 million in the first half of last year. EBITDA increased 48%, up from 22.4 million in the prior half year to 33.1 million. Net profit after tax of positive $3 million is a significant improvement on the prior half year's loss of $3.5 million. We achieved a maiden half year net profit after tax and increased cash and term deposit during the period. Our pool for the first half was $9.62. Next, we look at the revenue and EBITDA on slide four. Revenue for the half year ending 31st January 2025 increased 34% compared to the first half of FY24. With the increasing scale of the business, EBITDA margin has improved to 45% of revenue. The key drivers of this EBITDA uplift continue to be an increased subscriber base and expanded plan mix catering to different customers' needs. Flight 5 shows our sustained mobile subscriber growth since FY22. As of 31st January 2025, we have about 1.16 active services, representing a 24% increase over the past one year. We estimate Symbus mobile subscriber market share to be around 11.6%. Flight 6 shows the mobile subscriber base As of 31st January, 2025, we have approximately 14,000 active services. We proceed to cash flow on slide seven. We continue to show positive cash flow. Opening cash and term deposit balance was $35.3 million. Net cash generated from operating activities was $41.8 million. The main cash outflow comes from acquisition of plant plant and equipment, and intangible assets of $23.6 million, largely mobile network and some fixed broadband infrastructure. This brings the end cash and term deposits to $73.1 million as of 31st January 2025. With this, I will let Richard proceed with the business updates.