Also trades as: HKLJ.L (LSE) · $vol 1M · HNGKY (OTC) · $vol 1M · HKLB.L (LSE) · $vol 0M · HKLD.L (LSE) · $vol 0M · HKHGF (OTC) · $vol 0M

$7.98

-0.07 (-0.87%)

Weekly Expected Move ±4.1%

$7 $8 $8 $8 $9

SES · Real Estate · Real Estate - Development · Tech Score Sell · Power 46 · $17.2B mcap · 959M float · 0.250% daily turnover

Revenue

$1.5B -25.7% ▼

5Y CAGR: -6.6%

Gross Profit

$520M -29.5% ▼

5Y CAGR: -14.1%

Operating Income

$310M +123.7% ▲

Net Income

$1.3B +191.2% ▲

EPS (Diluted)

$0.58 +192.1% ▲

EBITDA

$1.7B +272.9% ▲

5Y CAGR: +11.8%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$2.4B	$2.2B	$1.8B	$2.0B	$1.5B
YoY Growth	+13.9%	-5.9%	-17.8%	+8.6%	-25.7%
Cost of Revenue	$1.3B	$1.2B	$914M	$1.3B	$968M
Gross Profit	$1.1B	$1.0B	$931M	$737M	$520M
Gross Margin	46.2%	45.5%	50.5%	36.8%	34.9%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$208M	$214M	$222M	$209M	$0
Operating Expenses	$1.5B	$734M	$1.4B	$2.0B	$209M
Operating Income	-$430M	$287M	-$513M	-$1.3B	$310M
Operating Margin	-18.0%	12.8%	-27.8%	-65.5%	20.9%
Interest Expense	$202M	$216M	$243M	$245M	$218M
Income Before Tax	-$148M	$323M	-$444M	-$1.2B	$1.4B
Tax Expense	$196M	$124M	$133M	$152M	$173M
Net Income	-$349M	$203M	-$582M	-$1.4B	$1.3B
Net Margin	-14.6%	9.0%	-31.6%	-69.2%	85.0%
EPS (Diluted)	$-0.15	$0.09	$-0.26	$-0.63	$0.58
EBITDA	$920M	$865M	$780M	-$966M	$1.7B
Shares Outstanding	2.33B	2.25B	2.22B	2.21B	2.19B

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$1.4B	$691M	$1.2B	$972M	$1.0B	$751M	$722M	$655M
Cost of Revenue	$821M	$218M	$695M	$680M	$586M	$366M	$595M	$250M
Gross Profit	$560M	$473M	$512M	$293M	$492M	$386M	$128M	$405M
Gross Margin	40.6%	68.4%	42.4%	30.1%	47.8%	51.3%	17.7%	61.9%
R&D Expenses	$42M	$40M	$41M	$0	$0	$0	$0	$0
SG&A Expenses	$9M	$8M	$110M	$101M	$108M	$104M	$0	$0
Operating Expenses	$107M	$112M	$110M	$943M	$108M	$161M	$112M	$100M
Operating Income	$453M	$361M	$402M	-$650M	$384M	$224M	$15M	$306M
Operating Margin	32.8%	52.2%	33.3%	-66.9%	37.3%	29.8%	2.1%	46.7%
Interest Expense	$120M	$124M	$142M	$0	$0	$0	$107M	$100M
Income Before Tax	-$66M	-$434M	-$264M	-$755M	-$468M	$274M	$1.2B	$1.3B
Tax Expense	$75M	$52M	$80M	$72M	$80M	$52M	$121M	$48M
Net Income	-$89M	-$333M	-$249M	-$833M	-$552M	$221M	$1.0B	$1.3B
Net Margin	-6.4%	-48.2%	-20.7%	-85.7%	-53.6%	29.4%	144.3%	192.2%
EPS (Diluted)	$-0.04	$-0.15	$-0.11	$-0.38	$-0.25	$0.10	$0.48	$0.59
EBITDA	$462M	$370M	$410M	$220M	$390M	$302M	$1.3B	$1.4B
Shares Outstanding	2.23B	2.22B	2.21B	2.21B	2.21B	2.20B	2.19B	2.15B

H78.SI SES