Softcare Limited reported a solid performance for the year ended 31 December 2025, buoyed by robust demand across Africa and Latin America and the company’s expanding production footprint.

Revenue and earnings Softcare’s revenue advanced 24.9% year on year to US$567.39 million, supported by volume growth and a 4%–7% increase in average selling prices. Profit for the year rose 27.4% to US$121.16 million, while adjusted net profit (non-IFRS) gained 24.4% to US$122.31 million, maintaining an adjusted net margin of 21.6%.

Margins Gross profit improved 27.1% to US$203.50 million, lifting the gross margin by 0.7 percentage points to 35.9%, aided by currency gains and product-mix optimisation. Foreign-exchange movements contributed a net gain of US$5.40 million versus a US$0.12 million loss in 2024.

Segment performance • Baby Care (diapers & pants) contributed 78.6% of revenue, climbing 23.1% to US$446.06 million on a 17.9% volume increase to 5.14 billion pieces. • Feminine Care (sanitary pads) grew 27.9% to US$99.06 million, representing 17.5% of sales, with volumes up 19.4% to 1.95 billion pieces. • Family Care (wet wipes) surged 53.8% to US$22.27 million, making up 3.9% of revenue.

Geographical mix East Africa remained the largest region, generating US$256.14 million (45.1% of total). West Africa delivered US$230.88 million (40.7%), Central Africa US$58.04 million (10.2%), and Latin America US$22.05 million (3.9%), where Peruvian revenue nearly doubled.

Balance-sheet strength Cash and cash equivalents expanded to US$445.46 million from US$31.11 million, reflecting IPO proceeds, pre-listing financing and US$115.40 million net operating cash flow. Bank borrowings stood at US$14.29 million, all short term and unsecured, giving an equity-debt ratio of 3.3%. The current ratio improved to 5.7 from 1.6, and the debt ratio fell to 16.4%.

Capital expenditure and capacity Softcare invested US$52.40 million in 2025, adding one factory and 18 production lines, bringing the total to nine factories and 66 lines.

Dividend The board proposed a first-ever final dividend of 8.88 US cents per share, amounting to approximately US$55 million, subject to shareholder approval at the AGM on 8 May 2026. The proposed payment date is 29 May 2026.

Outlook Management highlighted stable demographic tailwinds in emerging markets, limited exposure to current Middle-East logistics disruptions due to localised production, and plans to deepen channel penetration while expanding in Latin America and Central Asia.

The audited results cover the period from Softcare’s listing on the Hong Kong Stock Exchange on 10 November 2025 to year-end, with Deloitte Touche Tohmatsu acting as auditor. No significant post-reporting-period events were noted.