Union Gas FY2025 revenue at S$137.9 million, profit at S$10.5 million on liquid-fuel growth

SGX Filings
Feb 26

Union Gas Holdings booked net profit of S$10.5 million for the year ended Dec 31 2025, down 15.8% year-on-year after higher operating and depreciation costs offset record sales, management said on Thursday.

Full-year revenue climbed 9.9% to S$137.9 million, the highest since the company’s 2017 listing, buoyed by a near-doubling of liquid-fuel turnover and a sharp rise in contributions from its nascent electric-vehicle (EV) charging and industrial-gases unit.

The board has proposed a final dividend of 1.00 Singapore cent a share, unchanged from a year earlier. Together with the interim payout of 0.48 cent already distributed, the total FY2025 dividend stands at 1.48 cents, equivalent to about 44.7% of earnings.

By segment, gas fuel remained the core contributor with S$106.7 million in revenue, though this slipped 2.8% YoY on softer demand. Liquid-fuel sales almost doubled to S$30.3 million, lifted by higher diesel and petrol volumes and the first-time revenue from the Dunman Road “Cnergy” service station that opened in October. The EV charging services and industrial gases arm generated S$0.9 million, a nine-fold increase driven by additional charging nozzles and stronger industrial-gas demand.

Gross profit edged up 1.9% to S$48.3 million but the margin contracted by 2.8 percentage points to 35.0% as material costs rose and depreciation increased following recent capital expenditure. Other income slipped to S$1.9 million due to lower government grants and an absence of foreign-exchange gains, while marketing expenses climbed nearly 10% with the network expansion, resulting in the profit decline.

Union Gas is pressing ahead with retail growth. Besides the Dunman Road outlet, a third station at Queensway began operations in February 2026 and is expected to contribute about 11 months of sales to the current financial year. The company has also secured a site in Marsiling that is slated to open in 2027, further extending its “Cnergy” footprint and EV-charging reach.

Chief executive Teo Hark Piang said the group aims to “grow steadily and sustainably”, pointing to the expanded service-station network as a platform for long-term retail gains while the EV charging and industrial-gases businesses position the company for future energy trends. He added that disciplined cost management remains a priority even as Union Gas seeks to enhance shareholder returns.

Management maintained a cautiously optimistic outlook for FY2026, citing the essential nature of its fuel offerings and the incremental revenue expected from the new stations. No specific financial targets were disclosed.

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