Venture Corporation (V03) H1 2026 earnings summary

Executive summary

• Revenue for 1H 2026 rose 7.4% year-over-year to S$1,354.7 million, driven by growth in Test & Measurement, Networking & Communications, and Semiconductor Equipment, partially offset by declines in Lifestyle Consumer tech.

• Net profit for 1H 2026 was S$119.3 million, up 5.6% year-over-year, with a net profit margin of 8.8%.

• 2Q 2026 revenue reached S$726.2 million, up 12.5% year-over-year and 15.6% sequentially.

• 2Q 2026 net profit was S$63.0 million, a 10.3% increase year-over-year, with a net profit margin of 8.7%.

• Diluted EPS for 1H 2026 was 41.4 cents, up from 39.2 cents in 1H 2025.

Financial highlights

• Profit before tax for 1H 2026 was S$149.8 million (+6.1% YoY), with a PBT margin of 11.1%.

• Net cash position as of 30 June 2026 was S$1.11 billion, with zero debt.

• Interim ordinary dividend increased to 30 cents per share, up from 25 cents (plus 5 cents special) in prior year.

• Net asset value per share was S$9.64 as of 30 June 2026.

• Operating profit before working capital changes was S$154.0 million; net cash from operating activities was S$12.9 million.

Segment performance

• Portfolio B (Test & Measurement, Networking & Communications, Semiconductor Equipment) grew 25.7% YoY in 2Q 2026, driven by demand in AI-related infrastructure.

• Portfolio A (Life Science, Medtech, Lifestyle Consumer) declined 8.5% YoY in 2Q 2026, but saw 7.2% sequential growth from 1Q 2026.

• Portfolio B revenue for 1H 2026 was S$915.8 million, up from S$772.0 million YoY.

• Portfolio A revenue for 1H 2026 was S$438.9 million, down from S$489.9 million YoY.

• Revenue by geography: Singapore S$384.7 million, Asia-Pacific ex-Singapore S$924.2 million, Others S$45.8 million.