Mewah International Inc. · SGX:MV4
Mewah International — FY2025 Earnings Presentation
24 slides from Mewah International's earnings presentation, February 2026
Slide 1: FY2025 Financial Results Summary
FY2025 FINANCIAL RESULTS SUMMARY 0
Slide 2: Notice
NOTICE This presentation has been prepared by Mewah International Inc. for information purposes and should be read together with the Financial Statements for the Year Ended 31 December 2025 (“2025”) which were lodged to SGXNET on 27 February 2026. This presentation is not to be interpreted as consti
Slide 3: Contents
CONTENTS Cash Flow Statement Balance Sheet Income Statement Performance Summary 2
Slide 4: Performance Summary
PERFORMANCE SUMMARY 3
Slide 5: FY Performance Summary
FY PERFORMANCE SUMMARY In US$mil 38.1% 53.6 NET PROFIT* 38.8 FY 2024 FY 2025 * Profit after tax attributable to equity holders of the Company 4
Slide 6: CPO Prices
CPO PRICES 2024 2025 1,400 CPO Prices (USD) CPO Prices (RM) 6,000 Operating Margin per MT (USD) 1,200 Operating Margin % 1,000 CPO Prices - MYR per MT CPO Prices - US$ per MT 4,000 800 600 5.2% 4.9% 2,000 400 4.4% 3.8% 200 47.7 58.0 49.7 39.8 - - H1 2024 H2 2024 H1 2025 H2 2025 5
Slide 7: Income Statement
INCOME STATEMENT 6
Slide 8: FY Income Statement
FY INCOME STATEMENT % FY 2025 FY 2024 change Sales volume (MT'000) 5,195.8 4,781.8 8.7% Average selling prices per MT (US$) 1,150.4 1,000.0 15.0% Revenue 5,977.3 4,782.0 25.0% OM per MT (US$) 53.7 43.2 24.3% Operating margin ("OM") 279.1 206.6 35.1% Operating margin (%) 4.7% 4.3% 9.3% Other expenses
Slide 9: FY Sales Volume & Revenue
FY SALES VOLUME & REVENUE In US$ million, unless stated otherwise Change FY 2024 FY 2025 % Sales Volume 4,781.8 5,195.8 8.7% (MT’000) +8.7% +15.0% Avg Selling Price +25.0% 5,977.3 1,000.0 1,150.4 15.0% (ASP) (US$) 4,782.0 Revenue 4,782.0 5,977.3 25.0% FY 2024 Volume ASP per MT FY 2025 8
Slide 10: FY Segmental Sales Volume & Revenue
FY SEGMENTAL SALES VOLUME & REVENUE BULK FY 2024 FY 2025 Change % Sales Volume (MT’000) 3,607.7 4,075.5 13.0% +13.0% +14.4% 4,547.0 3,518.5 +29.2% Avg Selling Price (ASP) 975.3 1,115.7 14.4% (US$) FY 2024 Volume ASP per MT FY 2025 Revenue 3,518.5 4,547.0 29.2% CONSUMER PACK FY 2024 FY 2025 Change %
Slide 11: FY Geographical Spread - Revenue
FY GEOGRAPHICAL SPREAD - REVENUE TOTAL Based on Billing address of the customer Americas Pacific Americas Pacific Europe Europe 1% Oceania 1% Oceania 3% 3% 2% 2% Middle East Middle East 9% 9% Africa Africa 5% FY 2025 7% FY 2024 Malaysia/ Malaysia/ Rest of Asia Singapore Singapore Rest of Asia 54% 26
Slide 12: FY Geographical Spread - Revenue (Bulk)
FY GEOGRAPHICAL SPREAD - REVENUE BULK Based on Billing address of the customer Europe Pacific Europe Pacific 2% Oceania 2% Oceania Middle East 1% Middle East 1% 10% 9% Rest of Asia Rest of Asia 26% FY 202 5 25% FY 2024 Malaysia/ Malaysia/ Singapore Singapore 61% 63% 11
Slide 13: FY Geographical Spread - Revenue (Consumer Pack)
FY GEOGRAPHICAL SPREAD - REVENUE CONSUMER PACK Based on Billing address of the customer Americas Pacific Americas Pacific 3% Oceania 4% Oceania Europe 4% Europe 4% 8% 7% Malaysia/ Singapore Malaysia/ 32% Singapore 28% Middle East 9% FY 2025 Middle East 11% FY 2024 Africa 21% Africa Rest of Asia Rest
Slide 14: FY Operating Margin
FY OPERATING MARGIN In US$ million, unless stated otherwise Change FY 2024 FY 2025 % Sales Volume 4,781.8 5,195.8 8.7% +8.7% +24.3% (MT’000) +35.1% 279.1 Operating Margin per 43.2 53.7 24.3% MT (US$) 206.6 Operating Margin 206.6 279.1 35.1% FY 2024 Volume OM per MT FY 2025 13
Slide 15: FY Segmental Operating Margin
FY SEGMENTAL OPERATING MARGIN BULK FY 2024 FY 2025 Change % Sales Volume (MT’000) 3,607.7 4,075.5 13.0% +13.0% +57.3% 171.2 96.3 Operating Margin per MT +77.8% 26.7 42.0 57.3% (US$) FY 2024 Volume OM per MT FY 2025 Operating Margin 96.3 171.2 77.8% CONSUMER PACK FY 2024 FY 2025 Change % -4.6% +2.7%
Slide 16: Balance Sheet
BALANCE SHEET 15
Slide 17: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL Balance Sheet as at 31 December 2025 In US$ million 1,537.7 1,537.7 Current net debt 52.2% 515.1 Working capital 64.2% 986.9 Equity 47.8% 471.8 Non-current debt 128.9 23.4% Long-term 550.8 investments Equity 421.9 35.8% 76.6% Capital Investment 16
Slide 18: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL 31-Dec-25 % 31-Dec-24 % Change Long-term investments 550.8 35.8% 517.1 38.5% 6.5% Working capital 986.9 64.2% 826.1 61.5% 19.5% Total investments 1537.7 100% 1343.2 100% 14.5% Equity 893.7 58.1% 824.5 61.4% 8.4% Gross debt (A) 800.1 52.0% 661.6 49.3% 20.9% Cash (B) 15
Slide 19: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL In US$ million 31 Dec 2025 31 Dec 2024 1,537.7 1,537.7 1,343.2 1,343.2 Current net debt 515.1 33.5% Current net debt Working capital 394.9 29.4% 986.9 Non-current net debt Working capital 128.9 8.4% Non-current net debt 826.1 9.2% 123.8 Equity Equity 58.1% 61.4% Long-
Slide 20: Liquidity
LIQUIDITY In US$ million Non-current debt Current debt Cash & cash equivalents Term loan repayment schedule 31 Dec 2025 Gross debt and (in US$ million) net debt Gross debt, 392 Gross debt, 662 Gross debt, 800 Net debt, 260 Net debt, 644 Net debt, 519 FY 2026 31.5 FY 2027 46.8 FY 2028 28.1 FY 2023 FY
Slide 21: Cycle Time
CYCLE TIME* 46 44 58 69 66 42 FY 2023 FY 2024 FY 2025 FY 2023 FY 2024 FY 2025 Cycle time Inventory days 40 FY 2023 FY 2024 FY 2025 30 27 (10) (11) (15) FY 2023 FY 2024 FY 2025 Trade receivable days Trade payable days * Cycle time is calculated as Inventory days + Trade receivable days - Trade payabl
Slide 22: Cash Flow Statement
CASH FLOW STATEMENT 21
Slide 23: FY Cash Flow Statement
FY CASH FLOW STATEMENT FY 2025 FY 2024 Operating cash flows before working capital changes 173.3 113.8 Changes in operating assets and liabilities (157.4) (255.3) Net interest and income tax payment (57.2) (41.7) Net cash flows used in operating activities (41.3) (183.2) Net cash flows used in inves
Slide 24: Thank you
Thank you Any questions, contact: Rajesh Shroff, Chief Financial Officer Ph: (65) 6829 5255| mail: ir@mewahgroup.com