Multi Ways Holdings Reports 88% Revenue Growth in First Half 2025, Provides Corporate Updates
Rhea-AI Summary
Multi Ways Holdings (NYSE American: MWG) reported unaudited first half 2025 results on Dec 23, 2025 showing net revenue of $26.44M, up 87.65% from $14.09M in H1 2024.
Gross profit was $6.63M with a 25.08% gross margin versus 33.07% a year earlier. Reported net income was approximately $0.90M for H1 2025, compared with $0.08M in H1 2024. Cash and cash equivalents fell to $1.14M from $3.66M year‑over‑year, while cash from operating activities improved to $5.39M.
Management cited stronger equipment sales, prior locked‑in orders, and marketing as drivers and noted margin pressure from competitive and input‑cost factors; highlighted 2026 infrastructure projects as growth catalysts.
Positive
- Net revenue +87.65% to $26.44M in H1 2025
- Cash from operations improved to $5.39M in H1 2025
- Net income rose to ~$0.90M in H1 2025 (from $0.08M)
Negative
- Gross margin down to 25.08% from 33.07% (≈799 bps decline)
- Cash and cash equivalents declined to $1.14M from $3.66M
- Net cash used in financing activities of $7.14M in H1 2025
News Market Reaction 21 Alerts
On the day this news was published, MWG gained 0.04%, reflecting a mild positive market reaction. Argus tracked a peak move of +131.1% during that session. Our momentum scanner triggered 21 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $5K to the company's valuation, bringing the market cap to $13M at that time. Trading volume was exceptionally heavy at 244.9x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus 1 Up
MWG was up about 0.8% pre-news with subdued volume, while peers showed mixed moves: FPAY sharply higher, AIHS modestly up, and ALTG slightly down. This points to stock-specific drivers rather than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Oct 27 | Fleet expansion | Positive | -1.5% | Purchase of 21 SANY cranes to expand fleet for infrastructure demand. |
| Sep 26 | Equity offering | Negative | -3.2% | Closing of second tranche of $1.485M registered direct offering with warrants. |
| Sep 15 | Equity offering | Negative | -7.1% | Closing of $1.485M registered direct offering of 9M shares and warrants. |
| Sep 12 | Equity offering | Negative | -7.1% | Pricing of $1.485M registered direct offering with 9M shares and warrants. |
Recent equity offerings were followed by negative price reactions, while an operational expansion purchase also saw a mild sell-off, suggesting a tendency for shares to soften around both financing and growth headlines.
Over the past few months, MWG has focused on capital raising and fleet expansion. In September 2025, it announced, priced, and closed a $1.485 million registered direct offering with warrants, which coincided with share price declines. On October 27, 2025, the company disclosed a S$7.0 million (US$5.4 million) purchase of 21 SANY cranes to meet rising demand, yet the stock again slipped. Today’s strong first-half 2025 revenue and earnings growth arrives against this backdrop of dilution and capacity expansion.
Market Pulse Summary
This announcement highlights robust 1H 2025 performance, with net revenue rising 87.65% to $26.44 million and net income improving to $0.90 million, alongside better operating cash flow of $5.39 million. At the same time, gross margin fell to 25.08% from 33.07%, and cash and equivalents declined to $1.14 million. Investors may watch future updates on margin recovery, cash generation, and how new infrastructure projects translate into sustainable earnings.
AI-generated analysis. Not financial advice.
NEW YORK, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Multi Ways Holdings Limited (“Multi Ways” or the “Company”) (NYSE American: MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announces first half 2025 unaudited financial results and provides corporate updates.
Management Commentary
Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways, is pleased to report that, “In the first half of 2025, despite a challenging and rapidly evolving business environment, the Group achieved a year-on-year increase in revenue. This growth was primarily driven by the strong performance of our equipment sales segment, reflecting the market’s confidence in our product offerings and our ability to capture new opportunities even under difficult conditions.
“However, our gross profit margin experienced a decline during the period. This outcome was influenced by a combination of factors, including heightened competitive pressures, rising input costs, and sales mix associated with the higher contribution from lower-margin equipment products. We are addressing these challenges through continued cost-management initiatives, operational efficiencies, and ongoing optimisation of our product portfolio.
“Looking ahead to 2026, we are optimistic about our business prospects given several recently announced major infrastructure projects commencing construction next year. These include the ongoing expansion of Changi Airport Terminal 5 and the Marina Bay Sands integrated resort, along with strong government focus on public housing, high-specification industrial buildings, and educational and healthcare facilities. Additionally, large-scale infrastructure projects such as the Jurong Region Line (JRL), the Cross Island Line (CRL), and the Jurong Island Hydrogen-Compatible Power Plant continue to progress.
“Multi Ways remains committed to strengthening our core capabilities, enhancing profitability, and delivering sustainable value for our shareholders. While external uncertainties may persist, we believe our strategic direction and disciplined execution position us well for long-term growth,” concluded Mr. Lim.
First Half 2025 Financial Highlights
For the six months ended June 30, 2025, our net revenue increased significantly by
- Strong equipment sales boosted by few local ongoing major infrastructure projects
- Sales orders locked-in last year which translated into revenue in 1st half 2025.
- Aggressive & proactive marketing strategy to entice potential customers
- Gross profit was approximately
$6.63 million , with25.08% profit margin, for the first six months of 2025, compared with gross profit of$4.66 million , with33.07% profit margin for the first six months of 2024. - Net income was approximately
$0.90 million for the first six months of 2025, compared with a net income of$0.08 million for the first six months of 2024. Net Income increased substantially by 1,025% to$0.82 million .
Cash Flows Summary
- Cash and cash equivalents were approximately
$1.14 million as of June 30, 2025, compared to approximately$3.66 million as of June 30, 2024. - Cash generated from operating activities for the six months ended June 30, 2025, was approximately
$5.39 million , compared to cash used in operating activities of approximately$8.03 million for the six months ended June 30, 2024. - Cash used in investing activities for the six months ended June 30, 2025, was
$0.20 million , compared to cash used in investing activities of$0.18 million for the six months ended June 30, 2024. - Cash used in financing activities for the six months ended June 30, 2025, was approximately
$7.14 million , compared to cash generated from financing activities of approximately$5.22 million for the six months ended June 30, 2024.
About Multi Ways Holdings Limited
Multi Ways Holdings supplies a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region. With more than two decades of experience in the sales and rental of heavy construction equipment business, the Company is widely established as a reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, UAE, Maldives, Indonesia, and the Philippines. With our wide variety of heavy construction equipment in our inventory and complementary equipment refurbishment and cleaning services, Multi Ways is well-positioned to serve customers as a one-stop shop. For more information, visit www.multiwaysholdings.com.
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
FAQ
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