MasterBeef Group Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	490.25	503.98	532.29	456.69
Revenue Growth (YoY)	-5.64%	-5.32%	16.55%	-
Cost of Revenue	345.62	351.63	371.7	306.26
Gross Profit	144.64	152.35	160.59	150.42
Selling, General & Admin	28.7	28.39	29.99	22.1
Amortization of Goodwill & Intangibles	42.19	44.56	48.47	40.33
Other Operating Expenses	55.25	49.99	42.15	28.02
Operating Expenses	159.17	156.98	156.4	118.7
Operating Income	-14.54	-4.64	4.19	31.73
Interest Expense	-9.48	-10.19	-11.45	-7.6
Interest & Investment Income	0.3	0.68	0.52	0.03
Currency Exchange Gain (Loss)	-	-	0.03	0.19
Other Non Operating Income (Expenses)	0.83	0.63	0.47	1.12
EBT Excluding Unusual Items	-22.89	-13.52	-6.24	25.46
Gain (Loss) on Sale of Assets	-	58.68	-	-
Asset Writedown	-14.38	-9.56	-23.55	-
Other Unusual Items	0.01	0.01	-	12.32
Pretax Income	-37.26	35.61	-29.79	37.79
Income Tax Expense	1.87	2.71	7.66	4.38
Net Income	-39.13	32.9	-37.45	33.41
Net Income to Common	-39.13	32.9	-37.45	33.41
Shares Outstanding (Basic)	18	13	-	-
Shares Outstanding (Diluted)	18	13	-	-
EPS (Basic)	-2.21	2.56	-	-
EPS (Diluted)	-2.21	2.56	-	-
Free Cash Flow	32.14	48.17	39.31	108.51
Free Cash Flow Per Share	1.81	3.75	-	-
Gross Margin	29.50%	30.23%	30.17%	32.94%
Operating Margin	-2.96%	-0.92%	0.79%	6.95%
Profit Margin	-7.98%	6.53%	-7.03%	7.32%
Free Cash Flow Margin	6.55%	9.56%	7.39%	23.76%
EBITDA	18.5	29.4	39.99	59.97
EBITDA Margin	3.77%	5.83%	7.51%	13.13%
D&A For EBITDA	33.03	34.04	35.8	28.24
EBIT	-14.54	-4.64	4.19	31.73
EBIT Margin	-2.96%	-0.92%	0.79%	6.95%
Effective Tax Rate	-	7.62%	-	11.59%

Source: S&P Capital IQ. Standard template. Financial Sources.