Q & M Dental Group (Singapore) (QC7) H2 2025 earnings summary

Executive summary

• Achieved 9% year-over-year revenue growth to S$197.2 million, driven by core dental business and consolidation of Aoxin Q & M as a subsidiary in China.

• Profit after tax attributable to owners fell 35% to S$9.3 million due to one-off items, but adjusted profit after tax was stable at S$17.0 million.

• Expanded regional footprint with 110 dental clinics in Singapore, 37 in Malaysia, and significant growth in China via Aoxin Q & M.

• Issued S$130 million in 3.95% Medium Term Notes to fund expansion and acquisitions.

Financial highlights

• Revenue: S$197.2 million (+9% YoY); core dental revenue: S$195.0 million (+12% YoY).

• EBITDA: S$37.8 million; Profit before tax: S$12.2 million.

• Cash position: S$117.1 million; current ratio: 4.8x.

• EPS: 0.98 cents; NAV per share: 11.05 cents.

• Dividend payout: 0.82 cents per share (83% payout ratio).

Outlook and guidance

• Focus on expanding in Singapore, Malaysia, and China, with new growth targeted in Asia-Pacific.

• Plans to deploy S$8.0 million in China for clinic acquisitions and S$7.8 million in new capital for Aoxin Q & M.

• Continued investment in technology and talent acquisition to support growth.