Baker Technology Limited reported a net loss of S$25.3 million for the year ended 31 Dec 2025, reversing the S$19.1 million profit booked a year earlier. Management attributed the downturn to sharply lower charter income, a S$2.0 million impairment on a laid-up vessel and a S$6.7 million foreign-exchange loss stemming from the Singapore dollar’s appreciation against the US dollar.
Group revenue fell 47 per cent year-on-year (YoY) to S$48.4 million. Basic earnings per share came in at a negative 12.6 cents, compared with a positive 9.0 cents in FY2024. The board has proposed a final tax-exempt cash dividend of 1.5 cents per share, down from 2.0 cents the previous year; the payment and book-closure dates will be announced later.
By segment, the marine-offshore division swung to a pre-tax loss of S$21.0 million (FY2024: S$17.6 million profit) on the back of reduced vessel utilisation and the impairment charge. The investments arm contributed a smaller pre-tax profit of S$0.6 million, down from S$11.8 million, reflecting lower interest and dividend income. Corporate activities posted a pre-tax loss of S$1.2 million, reversing a S$20.5 million profit previously boosted by foreign-exchange gains.
Operating cash outflow totalled S$3.3 million, contrasting with inflows of S$39.4 million a year earlier. After S$8.5 million of capital expenditure, a net S$5.3 million outlay on investment securities and S$4.1 million in dividends, cash and short-term deposits stood at S$95.2 million at end-December, down from S$112.0 million. Net asset value per share slipped to 100.4 cents from 116.0 cents.
Management said offshore-market visibility remains limited heading into 2026, citing vessel-supply constraints, muted offshore-wind activity and geopolitical uncertainties that could weigh on oil prices. The group intends to maintain a “cautious, prudent and disciplined” stance on operations and capital deployment. Recent fund-raising included a S$6.1 million rights issue completed by 54.98 per cent-owned subsidiary CH Offshore, bolstering liquidity for potential opportunities while legal proceedings to recover a chartered vessel continue.