JE Cleantech (NASDAQ: JCSE) reported its financial results for FY2024, showing revenue growth to S$19.3 million from S$18.0 million in FY2023. The company's cleaning systems segment generated S$12.0 million in revenue, up S$1 million year-over-year, securing recurring orders worth S$7.8 million for precision cleaning systems. The centralized dishware washing services segment contributed S$7.3 million, increasing from S$7.0 million. While net income decreased to S$0.03 million from S$0.5 million, adjusted EBITDA improved to S$2.2 million from S$1.8 million. Notably, gross profit margin expanded to 26.9% from 24.2% in FY2023, with gross profit reaching S$5.2 million.
JE Cleantech (NASDAQ: JCSE) ha riportato i risultati finanziari per l'anno fiscale 2024, mostrando una crescita dei ricavi a 19,3 milioni di dollari di Singapore rispetto ai 18,0 milioni dell'anno fiscale 2023. Il segmento dei sistemi di pulizia ha generato un fatturato di 12,0 milioni di dollari di Singapore, con un aumento di 1 milione rispetto all'anno precedente, assicurando ordini ricorrenti per un valore di 7,8 milioni per sistemi di pulizia di precisione. Il segmento dei servizi centralizzati di lavaggio stoviglie ha contribuito con 7,3 milioni, in crescita rispetto ai 7,0 milioni precedenti. Sebbene l'utile netto sia diminuito a 0,03 milioni dai 0,5 milioni, l'EBITDA rettificato è migliorato a 2,2 milioni da 1,8 milioni. Da notare che il margine lordo è aumentato al 26,9% dal 24,2% nel 2023, con un profitto lordo che ha raggiunto i 5,2 milioni.
JE Cleantech (NASDAQ: JCSE) informó sus resultados financieros para el año fiscal 2024, mostrando un crecimiento en los ingresos a 19,3 millones de dólares de Singapur desde 18,0 millones en el año fiscal 2023. El segmento de sistemas de limpieza generó ingresos por 12,0 millones, un aumento de 1 millón interanual, asegurando pedidos recurrentes por valor de 7,8 millones para sistemas de limpieza de precisión. El segmento de servicios centralizados de lavado de vajilla contribuyó con 7,3 millones, aumentando desde 7,0 millones. Aunque el ingreso neto disminuyó a 0,03 millones desde 0,5 millones, el EBITDA ajustado mejoró a 2,2 millones desde 1,8 millones. Destaca que el margen bruto se amplió al 26,9% desde 24,2% en 2023, con una ganancia bruta de 5,2 millones.
JE Cleantech (NASDAQ: JCSE)는 2024 회계연도 재무실적을 발표하며 매출이 2023 회계연도의 1,800만 싱가포르 달러에서 1,930만 싱가포르 달러로 성장했다고 밝혔습니다. 청소 시스템 부문은 매출 1,200만 싱가포르 달러를 기록하며 전년 대비 100만 싱가포르 달러 증가했으며, 정밀 청소 시스템을 위한 780만 싱가포르 달러 규모의 반복 주문을 확보했습니다. 중앙 집중식 식기 세척 서비스 부문은 730만 싱가포르 달러를 기여하여 이전의 700만에서 증가했습니다. 순이익은 3만 싱가포르 달러로 50만에서 감소했으나, 조정 EBITDA는 220만 싱가포르 달러로 180만에서 개선되었습니다. 특히, 총이익률은 2023년 24.2%에서 26.9%로 확대되었으며, 총이익은 520만 싱가포르 달러에 달했습니다.
JE Cleantech (NASDAQ : JCSE) a publié ses résultats financiers pour l'exercice 2024, affichant une croissance du chiffre d'affaires à 19,3 millions de dollars de Singapour contre 18,0 millions en 2023. Le segment des systèmes de nettoyage a généré un chiffre d'affaires de 12,0 millions, en hausse de 1 million par rapport à l'année précédente, sécurisant des commandes récurrentes d'une valeur de 7,8 millions pour des systèmes de nettoyage de précision. Le segment des services centralisés de lavage de vaisselle a contribué pour 7,3 millions, en augmentation par rapport à 7,0 millions. Bien que le bénéfice net ait diminué à 0,03 million contre 0,5 million, l'EBITDA ajusté s'est amélioré à 2,2 millions contre 1,8 million. Notamment, la marge brute s'est élargie à 26,9% contre 24,2% en 2023, avec un bénéfice brut atteignant 5,2 millions.
JE Cleantech (NASDAQ: JCSE) meldete seine Finanzergebnisse für das Geschäftsjahr 2024 und verzeichnete einen Umsatzanstieg auf 19,3 Millionen SGD gegenüber 18,0 Millionen SGD im Geschäftsjahr 2023. Der Bereich Reinigungssysteme erzielte einen Umsatz von 12,0 Millionen SGD, was einem Anstieg von 1 Million SGD gegenüber dem Vorjahr entspricht, und sicherte sich wiederkehrende Aufträge im Wert von 7,8 Millionen SGD für Präzisionsreinigungssysteme. Der Bereich zentrale Geschirrspüldienstleistungen trug 7,3 Millionen SGD bei, eine Steigerung von 7,0 Millionen SGD. Während der Nettogewinn auf 0,03 Millionen SGD von 0,5 Millionen sank, verbesserte sich das bereinigte EBITDA auf 2,2 Millionen SGD von 1,8 Millionen. Bemerkenswert ist, dass die Bruttogewinnmarge von 24,2% im Geschäftsjahr 2023 auf 26,9% anstieg, mit einem Bruttogewinn von 5,2 Millionen SGD.
Positive
Revenue increased to S$19.3 million from S$18.0 million year-over-year
Adjusted EBITDA improved to S$2.2 million from S$1.8 million
Gross profit margin expanded to 26.9% from 24.2%
Secured recurring orders worth S$7.8 million from key customer
Both main business segments showed revenue growth
Negative
Net income decreased significantly to S$0.03 million from S$0.5 million in FY2023
Experienced softer demand for certain cleaning systems due to project completions
Insights
JE Cleantech reported mixed 2024 results with revenue growth but declining net income, showing operational improvements amid profit challenges.
JE Cleantech Holdings (NASDAQ: JCSE) reported S$19.3 million in revenue for FY2024, representing a 7.2% year-over-year increase from the S$18.0 million recorded in FY2023. This growth was primarily driven by their cleaning systems segment, which saw a S$1 million increase in sales, and their centralized dishwashing services, which contributed an additional S$0.3 million.
Despite the revenue growth, net income declined sharply to S$0.03 million from S$0.5 million in the previous year, a 94% decrease. This significant profit compression occurred even as adjusted EBITDA improved to S$2.2 million from S$1.8 million, suggesting increased operational costs or non-operating expenses impacted the bottom line.
Gross profit improved to S$5.2 million with a margin of 26.9%, up from S$4.4 million and 24.2% in FY2023. This margin expansion reflects a more favorable product mix, with higher-margin precision cleaning systems constituting a larger portion of total sales.
A key business highlight was securing recurring orders worth S$7.8 million for precision cleaning systems from a major Singapore customer. This represents approximately 65% of their cleaning systems segment revenue, indicating significant customer concentration risk but also demonstrating strong customer loyalty.
While the company's centralized dishware washing segment showed modest growth of 4.3%, the cleaning systems segment grew by a more substantial 9.1%, reflecting the company's stronger positioning in equipment sales versus services.
The disconnect between growing revenue/EBITDA and shrinking net income raises questions about increasing costs, potentially in areas like administrative expenses, financing costs, or tax provisions, which weren't detailed in the release.
Increase in sales by S$1 million for precision cleaning systems and S$0.3 million for the provision of centralized dishwashing and ancillary services in Singapore
Overall gross profit margin yield higher compared to the corresponding year
SINGAPORE, May 20, 2025 (GLOBE NEWSWIRE) -- Singapore-headquartered, NASDAQ-listed precision cleaning and cleantech equipment manufacturer JE Cleantech Holdings Ltd (NASDAQ: JCSE) (“JE Cleantech” or, together with its subsidiaries, the “Group”) has released its annual report for the financial year ended December 31, 2024 (“2024 financial year”), with revenue of S$19.3 million, net income of S$0.03 million and adjusted EBITDA of S$2.2 million.
The performance was recorded with higher sales in its sale of cleaning systems, alongside softer demand for its other cleaning systems and other equipment due to completion of projects, compared to the preceding financial year ended December 31, 2023 (“2023 financial year”) when the Group booked revenue of S$18.0 million, net income of S$0.5 million with adjusted EBITDA of S$1.8 million.
Commenting on JE Cleantech’s performance, Founder and CEO Ms. Hong Bee Yin said, “We remain committed to our pursuit of innovation, enhancing customer relationships, and leveraging the longstanding relationships we have with our customers to build traction for our products and services, as well as closely monitoring our cost dynamics, we aim to continue our trajectory of success.”
The Group’s sale of cleaning systems and other equipment business segment generated S$12.0 million in revenue in the 2024 financial year, compared to S$11.0 million in the 2023 financial year. The Group secured recurring orders worth over S$7.8 million for precision cleaning systems from an existing key customer in Singapore in 2024.
The Group’s centralized dishware washing and cleaning services segment recorded revenue of S$7.3 million, compared to S$7.0 million in the preceding financial year. The business activity was higher year-on-year.
The Group yielded gross profit and gross margin of S$5.2 million and 26.9%, taking into account the increase in sales of precision cleaning systems and other cleaning systems and other equipment, at higher margins. This compares with S$4.4 million and 24.2% in the 2023 financial year.
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About JE Cleantech Holdings Limited
JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of precision cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also provides centralized dishwashing services through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. The Company is listed on NASDAQ since 2022. For more information about JE Cleantech, please visit: www.jecleantech.sg.
Disclaimer: Forward looking statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," “aim” or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.
For media enquiries, please contact: Jason Long Email address: enquiry@jecleantech.sg Phone number: +65 63684198 Other number: +65 66029468
FAQ
What was JE Cleantech's (JCSE) revenue for fiscal year 2024?
JE Cleantech reported revenue of S$19.3 million for fiscal year 2024, up from S$18.0 million in FY2023.
How much did JCSE's net income change in FY2024 compared to FY2023?
JE Cleantech's net income decreased to S$0.03 million in FY2024 from S$0.5 million in FY2023.
What was JE Cleantech's gross profit margin in 2024?
JE Cleantech's gross profit margin was 26.9% in FY2024, improved from 24.2% in FY2023.
How much revenue did JCSE's cleaning systems segment generate in 2024?
The cleaning systems segment generated S$12.0 million in revenue for FY2024, up from S$11.0 million in FY2023.
What was the value of recurring orders secured by JE Cleantech in 2024?
JE Cleantech secured recurring orders worth over S$7.8 million for precision cleaning systems from a key customer in Singapore.
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