Uni-Fuels Announces 2025 Interim Financial Results

Rhea-AI Summary

Uni-Fuels (NASDAQ: UFG) reported interim results for the six months ended June 30, 2025, showing significant operational expansion and revenue growth.

Key metrics: revenues of ~US$114.6M (+54% YoY), cost of revenues ~US$112.6M (+55% YoY), gross profit ~US$2.1M (+42% YoY), and net income after tax ~US$90k (down 11% YoY). Volumes and coverage: 217,000 MT delivered (+90%), 502 transactions (+75%), 359 vessels served (+80%), 103 ports (+98%), and 179 customers (+106%).

Corporate moves: ISCC EU/ISCC PLUS certification (Feb 12, 2025), new subsidiaries/offices in Dubai and Shanghai, and two oversubscribed commercial paper issuances raising US$3M each (Series 001 repaid Oct 17, 2025; Series 002 closed Oct 17, 2025 and listed Oct 18, 2025) to bolster liquidity.

Positive

• Revenue +54% to ~US$114.6M for H1 2025
• Marine fuel deliveries +90% to ~217,000 metric tons
• Customer base +106% to 179 customers
• Operations expanded to 103 ports (+98%)
• Completed oversubscribed CP raises of US$3M each

Negative

• Cost of revenues up 55%, nearly offsetting revenue gains
• Net income after tax fell 11% to ~US$90k due to higher taxes
• Operating expenses rose 40% to ~US$1.9M

Insights

Equity Analyst

Strong volume and revenue growth with thin but improving profitability; liquidity moves support expansion.

Uni-Fuels shows clear top-line momentum: total revenues rose to $114.6 million, up 54%, driven by a 90% rise in tons delivered to ~217,000 metric tons and a 75% jump in transactions to 502. The company materially expanded geographic reach (new Dubai and Shanghai offices) and secured ISCC certifications, which support access to EU biofuel markets. The oversubscribed commercial paper issues raised two tranches of $3 million each, indicating investor demand and adding short‑term liquidity.

Margins remain thin: cost of revenues climbed in line with sales to $112.6 million, leaving gross profit of $2.1 million and net income after tax of $90,000, down 11% year‑over‑year due to higher tax in Singapore. Operating expenses rose modestly to $1.9 million. The business model appears volume‑driven with operating leverage beginning to show but still limited absolute profitability.

Watch operational cadence and liquidity over the next 6–12 months: monitor sustained delivery volumes, improvement in gross margin dollars, the integration impact of new regional offices, and repayment or refinancing plans for short‑term debt. Near term indicators include subsequent quarterly revenue and gross profit trends and any disclosures on longer‑term financing beyond the commercial paper programs.

Strong Operational Performance Drives Revenue and Gross Profit Growth

SINGAPORE, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Uni-Fuels Holdings Limited (NASDAQ: UFG), (“Uni-Fuels” or the “Company”), a global provider of marine fuel solutions headquartered in Singapore, today announced its interim financial results for the six months ended June 30, 2025.

Key Strategic Developments        

• On February 12, 2025, the Company’s wholly owned subsidiary, Uni-Fuels Pte Ltd (“Uni-Fuels Singapore”), received ISCC EU and ISCC PLUS certifications from the International Sustainability and Carbon Certification (“ISCC”). The ISCC certifications ensure that the biofuels traded by Uni-Fuels Singapore meet the requirements of the European Union’s (“EU”) Renewable Energy Directive (“RED II”), including the provision of Proof of Sustainability (“POS”).
• On April 2, 2025, the Company, as part of its global expansion strategy, announced the establishment of Uni-Fuels Middle East FZCO (“Uni-Fuels Dubai”), a wholly owned subsidiary of the Company, in the United Arab Emirates and the opening of a new office in Dubai.
• On June 30, 2025, the Company announced the opening of a new office in Shanghai. The formation of the wholly owned subsidiary, Uni-Fuels (Shanghai) Co Ltd (“Uni-Fuels Shanghai”), reinforces the Company’s commitment to strengthening its Asian market presence.
• On July 21, 2025, the Company announced Uni-Fuels Singapore has successfully completed the Company’s first-ever commercial paper (“CP”) issuance, raising US$3 million through ADDX Exchange, a private market platform regulated by the Monetary Authority of Singapore. The Company’s 3M USD Commercial Paper Series 001 has since been fully repaid on October 17, 2025. Subsequently, on October 17, 2025, the Company announced that Uni-Fuels Singapore has successfully closed its 3M USD Commercial Paper Series 002 on the ADDX Exchange, and that it has raised US$3 million in gross proceeds. The Series 002 tokens were listed on the ADDX Exchange on October 18, 2025. Through the issuance of the CPs, the Company seeks to reinforce its liquidity position and enhance its capital structure, positioning it to pursue new growth opportunities. Both the offerings were oversubscribed, reflecting strong demand from accredited investors.

Key Operational Highlights

During the six months ended June 30, 2025, the Company’s marine fuels business delivered strong momentum.

• Transaction volumes surged 75% period-over-period to 502, up from 287 in the prior-year period.
  
  
• Total marine fuel deliveries increased by 90% to approximately 217,000 metric tons, compared with approximately 114,000 metric tons a year earlier.
  
  
• The Company supplied marine fuels to 359 vessels, representing an 80% increase from 200 vessels in the same period last year.
  
  
• Operations expanded to 103 ports, representing a 98% increase from 52 ports a year ago, reflecting broader global coverage and customer reach.
  
  
• The Company strengthened its customer base, serving 179 customers, an increase of 106% from 87 customers in the prior-year period.
  

Key Financial Highlights

For the six months ended June 30, 2025, the Company achieved strong financial performance across its marine fuels business.

• Total revenues increased to approximately US$114.6 million, up approximately US$40.4 million or 54% period-over-period from US$74.2 million in the same period last year, reflecting stronger sales momentum across key markets and expanded business activities.
  
  
• Cost of revenues rose to approximately US$112.6 million, an increase of approximately US$39.8 million or 55% period-over-period from US$72.7 million during the six months ended June 30, 2024, in tandem with the increase in the volumes of marine fuels sold and the associated cost of revenues.
  
  
• As a result, gross profit improved to approximately US$2.1 million, up approximately US$0.6 million or 42% period-over-period from US$1.5 million, supported by increased sales volumes and operational efficiencies in the marine fuels business.
  
  
• Total operating expenses increased to approximately US$1.9 million, an increase of approximately US$0.5 million or 40% period-over-period from US$1.4 million, primarily due to continued investment in business development, operational capabilities, and strategic initiatives to support growth.
  
  
• Net income before tax was approximately US$0.2 million, an increase of approximately US$0.1 million or 73% period-over-period from US$0.1 million, reflecting the combined impact of higher revenues, increased cost of sales, and growth-related operating expenses.
  
  
• Net income after tax for the period was approximately US$90,000, lower than the same period last year by approximately US$11,000 or 11% from US$102,000, due to higher tax expenses incurred by Uni-Fuels Singapore.
  

Management Commentary

“The Company has continued its growth trajectory during the first half of 2025, characterized by incremental revenue growth despite a confluence of challenges in an uncertain economic climate. This is a testament to our commitment to creating greater shareholder value. We are executing our strategic priorities and broad growth roadmap effectively. As part of our global expansion plan, we have increased our geographical presence, spanning Dubai and Shanghai. Our strategic capital raises will further augment our liquidity position and enable the next phase of our expansion plan,” underlined Koh Kuan Hua, Chairman & CEO of Uni-Fuels.

“Our financial results reaffirm the compelling growth opportunities across our business model. We will continue to solidify our market position, expand our market reach, and build an extensive pipeline of reliable global supply network to support clients’ operational goals and deepen stronger, trusted partnerships through enhanced business partners proximity,” added Koh Kuan Hua.

The Company, capitalizing on its expanding international footprint and enhanced operational efficiency, is well positioned to deliver sustained revenue and gross profit growth in 2025. Bolstered by recent market expansion initiatives, operational improvements, and scale-up momentum in its core business, the Company remains focused on driving long-term growth and delivering strategic value to shareholders.

About Uni-Fuels Holdings Limited

Uni-Fuels is a fast-growing global provider of marine fuel solutions that has a growing presence across major shipping hubs, with offices in Singapore, Seoul, Dubai, and Shanghai. Established in 2021, Uni-Fuels has evolved into a dynamic, forward-thinking company. The company delivers customer-centric, compliant, and reliable fuel solutions across global markets and time zones, offering customers 24/7 operational support year-round. Backed by a thriving team of over 30 employees from diverse backgrounds and an extensive global supply network, Uni-Fuels has forged trusted partnerships with customers, supporting them in achieving their operational objectives and decarbonization goals amid a robust industry-wide energy transformation.

For more information, visit www.uni-fuels.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Uni-Fuels’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the Company’s annual report on Form 20-F filed with the SEC on April 22, 2025. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Contact Information

For Investor Relations:

Uni-Fuels Holdings Limited
Email: investors@uni-fuels.com

FAQ

What were Uni-Fuels (UFG) revenues for the six months ended June 30, 2025?

Uni-Fuels reported approximately US$114.6 million in revenues for the six months ended June 30, 2025, a 54% increase year-over-year.

How much did Uni-Fuels (UFG) increase marine fuel deliveries in H1 2025?

Marine fuel deliveries rose to about 217,000 metric tons in H1 2025, up roughly 90% from the prior-year period.

What commercial paper issuances did Uni-Fuels (UFG) complete in 2025 and when?

Uni-Fuels Singapore completed a US$3M Commercial Paper Series 001 (repaid Oct 17, 2025) and closed Series 002 for US$3M on Oct 17, 2025; Series 002 listed Oct 18, 2025.

What operational expansion did Uni-Fuels (UFG) report in 2025?

Uni-Fuels expanded to 103 ports, served 359 vessels, and increased transactions to 502 in the six months ended June 30, 2025.

Did Uni-Fuels (UFG) receive sustainability certifications in 2025?

Yes, Uni-Fuels Singapore received ISCC EU and ISCC PLUS certifications on Feb 12, 2025 for its biofuels compliance with RED II requirements.

How did profitability metrics change for Uni-Fuels (UFG) in H1 2025?

Gross profit rose to about US$2.1M (+42% YoY) while net income after tax was ~US$90k, down 11% due to higher tax expenses.