- FY 2024 recorded a net profit of S$0.31 million, following losses of S$4.05 million in FY 2023, driven by streamlined operations and cost structures enhancing efficiency to achieve profitability
- S$12.36M order book (31 December 2024) surpasses FY2024 revenue, set to drive higher margins and sustainable earnings growth
- Strategically positioned for expansion through market and geographical diversification amidst improving macroeconomic landscape
Sevens Atelier Limited (the “Company” or “Sevens Atelier”, and together with its subsidiaries, the “Group”), one of the leading players in the Design and Build industry for landed properties, has announced its financial results for the twelve months (“FY 2024”) ended 31 December 2024.
In FY 2024, the Group marked a significant milestone by delivering a net profit of S$0.31 million, following a loss of S$4.05 million in FY 2023, despite a decrease in revenue from S$14.33 million in FY 2023 to S$9.10 million in FY 2024. This achievement comes as a direct result of management’s decisive actions to optimize costs, streamline operations, and improve financial discipline.
Gross profit margins grew from 15.4% to 19.6% year-on-year, signalling the success of focused restructuring and cost management efforts. In addition, administrative expenses reduced by almost 50%, setting the foundation for sustainable, long-term growth through operating a leaner and more efficient organisation.
The Group continues to grow its reputation as the preferred choice for customers as it has accumulated an order book amounting to S$12.36 million as at 31 December 2024, positioning the Company for stronger revenue streams in the coming year. Aligned with targets of enhancing project profitability, these contracts are expected to generate higher profit margins than in previous years, reflecting a shift towards a more sustainable and profitable business model, despite challenges such as cost inflation and rising competition.
Additionally, the Group’s focus on high-quality, Design and Build solutions for landed homes in Singapore continues to set it apart from competitors. For instance, the Group’s unique flagship experience centre enhances customer engagement, contributing to increasing demand and a growing pipeline of projects.
Looking ahead, the Group is actively exploring strategic growth opportunities through mergers and acquisitions (M&A) and expansion into new business segments and geographic markets. With a favourable macroeconomic outlook, including stabilizing market demand and positive expectations on further global interest rate adjustments, the Company is well-positioned to capitalize on emerging opportunities.
The Group Operation Director, Mr. Tang Yao Zhi commented, “Achieving our first full-year profit since changing to a Design and Build player is a testament to our unwavering commitment to financial prudence and operational efficiency. Looking ahead, we are looking ahead to executing our growing orderbook, which already exceeds FY2024’s revenue.”
About Sevens Atelier Limited (SGX:5EW)
Sevens Atelier is listed on the Catalist Board of the Singapore Exchange. The Company offers full-fledged consultancy services in the Design & Build industry, including pre-leasing consultations of business spaces and pre-purchase inspections of premium landed properties in Singapore. From consultation to completion, the Company provides turnkey services to its premium clients. Sevens Atelier is a BCA-certified solutions provider in the Design and Build arena with the goal to constantly improve and evolve. Its artisanal capabilities are a hallmark of its commitment to clients.
For all media queries, please contact:
Tang Yao Zhi
T: (+65) 8139 7777
E: yaozhi@sevensatelier.com
This press release has been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange“) and the Exchange assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Ms. Foo Jien Jieng, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.