Delixy Holdings Limited Reports Unaudited Financial Results for the First Six Months of Fiscal Year 2025 | DLXY Stock News

, /PRNewswire/ -- Delixy Holdings Limited (Nasdaq: DLXY) (the "Company" or "Delixy"), a Singapore-based company engaged in the trading of oil related products, today announced its unaudited financial results for the six months ended June 30, 2025.First Six Months of Fiscal Year 2025 Financial SummaryRevenue was $102.0 million for the six months ended June 30, 2025, compared to $143.8 million for the same period last year.Gross profit was $1.1 million for the six months ended June 30, 2025, compared to $1.8 million for the same period last year.Net income was $0.6 million for the six months ended June 30, 2025, an increase from $0.5 million for the same period last year.Basic and diluted income per share was $0.04 for the six months ended June 30, 2025, an increase from $0.03 for the same period last year.Mr. Dongjian Xie, Executive Chairman and Chief Executive Officer of Delixy, commented, "During the first half of fiscal year 2025, we remained focused on efficiency while navigating a dynamic market environment. This approach allowed us to strengthen profitability and deliver improved operating results. While revenues during the period reflected softer market activity, our general and administrative expenses declined significantly year-over-year, reflecting streamlined corporate operations and strong expense controls. As a result, our profits from operations increased to $0.4 million from $0.2 million for the same period last year, and net income rose to $0.6 million from $0.5 million."On July 9, 2025, our ordinary shares commenced trading on Nasdaq following our initial public offering (the "IPO"), marking a major milestone for Delixy. The IPO strengthened our balance sheet, enhanced our visibility in the capital markets, and further improved our corporate governance framework. Looking ahead, we plan to continue to emphasize disciplined execution and prudent growth initiatives. With the foundation established as a public company, we believe Delixy is well positioned to pursue sustainable growth and create long-term value for our shareholders."First Six Months of Fiscal Year 2025 Unaudited Financial ResultsRevenuesRevenues were $102.0 million for the six months ended June 30, 2025, a decrease from $143.8 million for the same period last year. The decrease was primarily attributable to the lower selling price, following weak oil demand and lower international oil price in first half of 2025.Cost of RevenueCost of revenue was $100.9 million for the six months ended June 30, 2025, a decrease from $142.0 million for the same period last year. The decrease was primarily due to a weaker world oil market, with lower oil price we traded in. Gross ProfitGross profit was $1.1 million for the six months ended June 30, 2025, a decrease from $1.8 million for the same period last year.General and Administrative ExpensesGeneral and administrative expenses were $0.7 million for the six months ended June 30, 2025, a decrease from $1.6 million for the same period last year. The decrease was primarily driven by less vessel chartering and less logistics expense due to a high stocks of crude oil and oil products in far east.Net IncomeNet income was $0.6 million for the six months ended June 30, 2025, an increase from $0.5 million for the same period last year.Basic and Diluted Income per ShareBasic and diluted income per share was $0.04 for the six months ended June 30, 2025, an increase from $0.03 for the same period last year. Financial ConditionAs of June 30, 2025, the Company had cash and cash equivalents of $1.8 million, compared to $5.6 million as of June 30, 2024.Net cash used in operating activities was $0.6 million for the six months ended June 30, 2025, compared to $1.4 million for the same period last year.Net cash used in investing activities was $0.5 million for the six months ended June 30, 2025, compared to net cash provided of $1.3 million for the same period last year.Net cash used in financing activities was $2.7 million for the six months ended June 30, 2025, compared to $2.5 million for the same period last year.About Delixy Holdings LimitedDelixy Holdings Limited is a Singapore-based company principally engaged in the trading of oil-related products, including (i) crude oil and (ii) oil-based products such as fuel oils, motor gasoline, additives, gas oil, base oils, asphalt, naphtha (heavy gasoline) and petrochemicals. Operating across multiple countries in Southeast Asia, East Asia, and Middle East, Delixy has established a strong presence in the region's oil trading markets. While Delixy maintains a diversified portfolio of oil products, crude oil trading represents a core aspect of its business. The Company leverages its strong existing relationships with customers and suppliers as well as deep industry expertise to provide value-added services, including tailored recommendations on optimal trading strategies and shipping and logistical support where required. In addition, the Company's financing capabilities allow it to extend credit terms to customers while satisfying suppliers' immediate payment terms. For more information, please visit the Company's website: https://ir.delixy.com.Forward-Looking StatementsCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "believe", "plan", "expect", "intend", "should", "seek", "estimate", "will", "aim" and "anticipate" or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Registration Statement and other filings with the U.S. Securities and Exchange Commission (the "SEC").For media inquiries, please contact:Delixy Holdings LimitedInvestor Relations DepartmentEmail: ir@delixy.comAscent Investor Relations LLCTina XiaoPhone: +1-646-932-7242Email: investors@ascent-ir.comDELIXY HOLDINGS LIMITED AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(UNAUDITED)(Amount in USD thousands, except for share and per share data, or otherwise noted)As of Jun 30, 2024As of Jun 30, 2025US$'000US$'000ASSETSCurrent assets:Cash and cash equivalents5,6091,824Accounts receivable, net3,77218,648Deposits, prepayments and other receivables34502Derivative financial instruments312831Total current assets9,72721,805Non-current assets:Property and equipment, net41Right-of-use assets, net9937Deferred offering costs1,1522,492Total non-current assets1,2552,530TOTAL ASSETS10,98224,335LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable2,52118,227Accrued liabilities8751Dividend payables2,245Amount due to shareholder991Lease liabilities6238Income tax payable157105Total current liabilities5,17118,422Non-current liabilities:Lease liabilities36Loan from shareholder5,0004,000Non-current liability5,0364,000TOTAL LIABILITIES10,20722,422Commitments and contingencies——Shareholders' equity:Ordinary share, par value US$0.000005, 100,000,000,000 shares authorized, 15,000,000 shares issued*****Additional paid-up capital695695Retained earnings341172Other reserve4646Total shareholders' equity7751,913TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY10,98224,335____________* Retrospectively restated for the effect of 1:200 forward stock split of our Ordinary Shares and the shares surrendered by our existing shareholders.** — Denotes amount less than US$1,000.DELIXY HOLDINGS LIMITED AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME(UNAUDITED)(Amount in USD thousands, except for share and per share data, or otherwise noted)For the six months period ended June 30,20242025US$'000US$'000Revenues143,761102,000Cost of revenue(141,959)(100,925)Gross profit1,8021,075General and administrative expenses(1,635)(692)Profits from operations167383Other income:Gain on disposal of property177Foreign exchange gain18Interest income13535Shipping charges reimbursed10201Other income51Total other income328245Income before income tax495628Income tax expense(45)(68)NET INCOME450560TOTAL COMPREHENSIVE INCOME450560Net income per shareBasic and diluted**0.0300.037Weighted average number of ordinary shares outstanding Basic and diluted**15,000,00015,000,000____________* — Denotes amount less than US$1,000.** Retrospectively restated for the effect of 1:200 forward stock split of our Ordinary Shares and the shares surrendered by our existing shareholders.DELIXY HOLDINGS LIMITED AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOW(UNAUDITED)(Amount in USD thousands, except for share and per share data, or otherwise noted)For the six months period ended June 30,20242025US$'000US$'000Cash flows from operating activities:Net income after tax450560Depreciation of property and equipment73Amortization of right-of-use assets2025Gain on disposal of property(177)Interest expense89(88)Change in working capital:Accounts receivable, net(3,059)(14,876)Deposits, prepayments and other receivables1(468)Other non-current assets(1,152)(1,340)Accounts payable2,52115,706Accrued liabilities12(36)Lease liabilities(22)(23)Income tax payable(89)(52)Net cash provided by/(used in) operating activities(1,399)(589)Cash flows from investing activities:Derivative financial instruments295(519)Proceeds from disposal of property957Amount due from shareholder—Net cash (used in)/provided by investing activities1,252(519)Cash flows from financing activities:Amount due to related party—Amount due to shareholder11(10)Dividend paid(2,500)(2,667)Net cash used in financing activities(2,489)(2,677)Net change in cash and cash equivalents(2,636)(3,785)BEGINNING OF FINANCIAL PERIOD8,2455,609END OF FINANCIAL PERIOD5,6091,824Supplemental Cash Flow Information:Cash paid for income taxes(134)(90)Cash paid for interest(1)(5)Supplemental schedule of noncash financing activitiesLoan from shareholder5,0004,000SOURCE Delixy Holdings Limited