Hyphens Pharma International Limited (1J5) reported that group revenue for the financial year ended Dec, 31 2025 fell 9.3 % year on year to 177.4 million Singapore dollars, but gross profit climbed 3.9 % to 72.2 million Singapore dollars, lifting the gross profit margin to an all-time high of 40.7 % (FY2024: 35.6 %).

Profit after tax amounted to 6.1 million Singapore dollars, with second-half earnings of 4.1 million Singapore dollars more than doubling the 2.0 million Singapore dollars recorded in the first half. Net operating cash inflow grew to 18.7 million Singapore dollars for the full year, supported by continued inventory reduction that released working capital, including 11.5 million Singapore dollars generated in 2H2025.

By geography, Singapore remained the largest contributor, delivering 90.9 million Singapore dollars or 53 % of group revenue, followed by Vietnam at 57.1 million Singapore dollars (22 %), Malaysia at 25.8 million Singapore dollars (15 %), and other markets at 21.6 million Singapore dollars (10 %).

Segmentally, Pharmaceutical & Medical Aesthetics revenue declined to 101.3 million Singapore dollars, affected by the transition of Visiopro and Fenosup into the Proprietary Brands portfolio and the cessation of Physiolac exports. Proprietary Brands sales rose to 36.6 million Singapore dollars on the back of new products and continued growth in Ceradan and Ocean Health, while Digital Platform & E-Pharmacy revenue eased to 39.4 million Singapore dollars due to portfolio optimisation.

Earnings before interest, tax, depreciation and amortisation (EBITDA) from Pharmaceutical & Medical Aesthetics doubled to 7.8 million Singapore dollars in 2H2025 versus 1H2025, aided by lower inventory provisions and reduced foreign-exchange losses. Proprietary Brands EBITDA slipped to 1.1 million Singapore dollars in 2H2025 as higher allocated overheads offset revenue gains, while Digital Platform & E-Pharmacy posted a smaller contribution following the retirement of legacy platforms.

Looking ahead, Hyphens Pharma highlighted several growth initiatives. In early 2026 the group out-licensed Cerapro MED to Switzerland-based Louis Widmer for six European markets, underpinning plans to expand out-licensing of its proprietary dermatological portfolio. Additional country roll-outs are planned for Winlevi, with a potential regulatory approval in Thailand that could pave the way for establishing direct operations there. The company said medical aesthetics products should continue to grow steadily, and it remains on the lookout for inorganic growth opportunities.

The Digital Platform & E-Pharmacy unit continues to scale following the launch of the POM 5.0 platform in Singapore and Malaysia, while the Wellaway e-pharmacy posted strong double-digit sales growth in FY2025, benefiting from increased demand for home-delivery services in the public healthcare sector.