MobilityOne (MBO) H2 2025 earnings summary

Executive summary

• Revenue rose 2.55% to £236.10m in FY2025, mainly due to favorable FX, but declined 3.9% in local currency due to lower core product sales in Malaysia.

• Net loss increased to £4.88m from £3.45m, driven by a £1.91m impairment on the investment in associate Hati.

• Gross profit margin improved, and operating loss narrowed by 39.1% to £1.58m.

• International remittance revenue grew 37.4% year-over-year, offsetting declines in core segments.

• Brunei operations received regulatory approval but remain immaterial; Philippines operations discontinued.

Financial highlights

• Revenue: £236.10m (up 2.55% YoY); Gross profit: £13.20m (up 18.9% YoY).

• Operating loss: £1.58m (down from £2.60m); Loss before tax: £4.73m (up from £3.50m).

• Net loss: £4.88m (up 41.5% YoY); EPS: (4.58)p (down from (3.24)p).

• Cash and cash equivalents: £3.43m (down from £3.98m); Secured loans and borrowings: £7.38m (up from £7.07m).

• No dividend declared for FY2025.

Outlook and guidance

• Malaysian economy expected to grow 4–5% in 2026, but external risks remain due to geopolitical tensions.

• Remittance and retail electronic payments expected to grow, especially with new partners like bKash.

• Health technology segment gaining traction with new hospital contracts in Thailand and Malaysia.

• Digital banking operations in Labuan anticipated to commence upon meeting regulatory conditions.

• Cautious outlook for 2026 due to challenging business environment, but significant cash inflow expected from the TETE/Super Apps merger.