TOMO Holdings Narrows 1H 2026 Loss to S$0.94 Million Despite 22% Revenue Slide

TOMO Holdings Limited (TOMO), a Singapore-based supplier and installer of passenger-vehicle leather upholstery and electronic accessories, reported a significantly reduced interim loss for the six months ended 30 June 2026 as aggressive cost controls and foreign-exchange gains partly offset softer top-line performance.

Financial highlights • Revenue fell 22.4% year on year to S$1.16 million (1H 2025: S$1.49 million), reflecting weaker demand across both leather upholstery (–18.3%) and electronic accessories (–22.8%).

• Gross profit declined 50.8% to S$0.34 million, with gross margin compressing to 29.3% from 46.2%.

• Net loss narrowed 51.5% to S$0.94 million (1H 2025: S$1.95 million). Loss per share improved to 0.13 Singapore cents from 0.43 Singapore cents.

• Other income swung to a S$0.15 million gain (1H 2025: S$0.11 million loss), supported by a S$24,600 net foreign-exchange gain, S$0.07 million rental income and S$2,000 government grants.

• Selling and distribution expenses dropped 43.2% to S$0.22 million, while administrative expenses fell 43.2% to S$1.21 million, underscoring ongoing cost-rationalisation efforts.

Balance-sheet and cash flow • Cash and cash equivalents rose to S$10.80 million as at 30 June 2026 (31 Dec 2025: S$9.81 million), aided by S$1.48 million of net proceeds from a HK$15.5 million share subscription completed in April 2026.

• Net current assets expanded to S$10.38 million (31 Dec 2025: S$8.06 million), driving the current ratio to 11.2× (31 Dec 2025: 4.3×).

• TOMO remains debt-free; lease liabilities totalled S$0.08 million.

Capital transactions • Issued 90 million new shares at HK$0.1748 each under a general mandate, increasing share capital to S$1.31 million and share premium to S$21.19 million.

Operational context Singapore’s automotive sector is adjusting to higher Certificate of Entitlement quotas and a gradual transition toward electric vehicles. Despite an improved supply of COEs, elevated premiums and subdued discretionary spending weighed on aftermarket demand, contributing to TOMO’s revenue contraction.

Outlook and strategy Management will maintain its focus on cost efficiency while pursuing product innovation and service quality to navigate shifting industry dynamics and support future performance.

No interim dividend was declared for the period.