International Cement Group (SGX:KUO
) (ICG) has reported net profit attributable to shareholders of $60.0 million in FY2025 ended Dec 31, 2025, up from just $135,000 a year ago.
For FY2025, revenue grew by 47% y-o-y to $378.8 million, driven by higher selling prices and increased sales volumes from its Kazakhstan operations amid strong market demand.
Favourable policies from the Kazakhstan’s government and rising Chinese investments resulted in higher demand for cements to support the construction activities in the country.
Gross profit margin improved to 39% in FY2025, up 3 percentage points from 36% in FY2024, driven by higher selling prices and strong market demand for cement from Alacem and Korcem.
With the improvement in gross profit margin, gross profit rose 60% y-o-y to $146.3 million in FY2025.
Despite higher sales volumes recorded in FY2025, selling and distribution expenses remained stable, reflecting continued cost and operational efficiency.
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Other expenses declined by $22.7 million, primarily due to the absence of the $25.3 million net foreign exchange loss recorded back in FY2024.
Basic and diluted earnings per share rose to 1.046 cents in FY2025, compared to 0.002 cents in the previous period.
Net cash generated from operating activities amounted to $104.6 million in FY2025 compared to $64.7 million in FY2024.
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Cash and cash equivalents increased from $5.7 million as of Dec 31, 2024 to $12.3 million as of Dec 31, 2025.
As of Dec 31, 2025, net asset value (NAV) stood at 5.33 cents per share, up from 4.14 cents as of Dec 31, 2024.
“With our expanded capacity and established market presence, we are well positioned to meet rising infrastructure-driven demand in our core markets of Kazakhstan and Tajikistan, and remain committed to capital efficiency and delivering sustainable, long-term value for our shareholders,” states Zhang Zengtao, CEO of ICG.
Shares in ICG closed 0.4 cents lower, or down 5.48% to 6.9 cents on Feb 27.
