Coliwoo Holdings Limited reported a net profit of S$16.22 million for the 12 months ended 30 September 2025, down 48.7 per cent year-on-year after the absence of a one-off retrofitting contract compressed revenue and margins.

The co-living operator’s top line fell 10.4 per cent YoY to S$46.73 million. Earnings per share came in at 4.82 Singapore cents, compared with 9.91 cents a year earlier. The board has proposed a tax-exempt final dividend of 2.0 Singapore cents per share, payable on 23 February 2026 to shareholders on the register as at 6 February 2026. No final dividend was declared in the prior year.

Rental activities continued to anchor performance, contributing S$39.90 million, or 85 per cent of group revenue. Within this, leased properties generated S$32.43 million, up 4.8 per cent YoY on new openings and higher occupancies, while income from owned properties rose 23.9 per cent to S$7.46 million. Facilities services revenue tumbled 77.2 per cent to S$3.33 million following the completion of a significant retrofitting project in FY2024. Management services more than quintupled to S$3.49 million as the group broadened its fee-based offerings.

Gross profit improved 5.5 per cent to S$33.08 million as cost of sales contracted after the prior year’s large project expenses. However, an S$7.38 million fair-value loss on investment properties (versus a S$14.94 million gain previously) and S$1.15 million in IPO expenses weighed on operating profit. Finance costs eased 3.4 per cent to S$6.90 million, reflecting lower interest rates and greater capitalisation of borrowing costs.

Cash generated from operations rose to S$24.80 million (FY2024: S$15.35 million). Net cash of S$15.60 million was realised from the disposal of 115 Geylang Road, helping lift year-end cash and cash equivalents to S$28.08 million. Bank borrowings declined to S$170.6 million, bringing the group’s gearing ratio down to 61.1 per cent from 74.4 per cent.

During the year Coliwoo completed a corporate restructuring and raised S$101.0 million from its November listing on the Singapore Exchange. As at 25 November 2025 it had deployed S$15.15 million of the proceeds, mainly for asset-enhancement works and loan repayment, leaving S$85.83 million earmarked for expansion of leased and owned co-living properties, debt reduction and working capital.

Looking ahead, the company expects demand for flexible accommodation to remain firm. It cited Urban Redevelopment Authority data showing that private residential rents rose for a fourth straight quarter in the September 2025 quarter amid tightening housing supply, as well as Singapore Tourism Board projections that tourism receipts will exceed pre-pandemic levels in 2025 on the back of a rebound in business travel and MICE activity. Coliwoo believes these trends, combined with its community-focused co-living model, will support continued growth as it scales its portfolio in Singapore and explores new markets.