Release Details

Delixy Holdings Limited Reports Fiscal Year 2025 Financial Results

30 April 2026
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SINGAPORE, April 30, 2026 /PRNewswire/ -- Delixy Holdings Limited (Nasdaq: DLXY) (the "Company" or "Delixy"), a Singapore-based company engaged in the trading of oil related products, today announced its financial results for the fiscal year ended December 31, 2025.

Fiscal Year 2025 Financial Summary

  • Revenue was $307.7 million for fiscal year 2025, compared to $314.9 million for fiscal year 2024.
  • Gross profit was $2.5 million for fiscal year 2025, compared to $4.3 million for fiscal year 2024.
  • Net loss was $4.5 million for fiscal year 2025, compared to net income of $1.0 million for fiscal year 2024.
  • Basic and diluted loss per share was $0.29 for fiscal year 2025, compared to basic and diluted income per share of $0.07 for fiscal year 2024.  

Mr. Dongjian Xie, Executive Chairman and Chief Executive Officer of Delixy, commented, "In fiscal year 2025, despite a softer pricing environment in the global oil market that resulted in a slight decline in revenue, Delixy delivered strengthened operational performance, with total trading volume growing by 13.9% to 4,373 kBBLs (where 1 kBBL is equal to 1,000 barrels of oil) in fiscal year 2025. This growth in cargo volume reflects the resilience of our trading capabilities and the continued trust of our customers and counterparties."

Mr. Xie continued, "At the operating business level, Delixy Energy Pte Ltd, our core oil trading subsidiary, recorded a net profit of approximately $0.9 million for fiscal year 2025, demonstrating the underlying health and profitability of our trading operations. The consolidated results were impacted by $4.9 million in consulting and advisory fees incurred at the holding company level, focused on expanding our product portfolio, strengthening our market positioning, and executing strategic business cooperations in alignment with our use of proceeds. These expenses were largely front-loaded as part of our growth initiatives following our transition to a public company, and therefore are not indicative of our ongoing operating performance or cost structure."

"Looking ahead, we are actively advancing our product diversification strategy to broaden our trading portfolio beyond crude oil and oil-based products. In particular, we are making steady progress toward entering the liquefied natural gas ("LNG") and liquefied petroleum gas ("LPG") market. We believe that the expansion of our product offering will enhance our ability to capture opportunities in the evolving global energy landscape and contribute to more diversified and resilient revenue streams. Meanwhile, we remain focused on preserving supply chain resilience and delivering our products and services to customers in a consistent and dependable manner. As a company committed to prudent growth and operational discipline, we believe we are well positioned to strengthen our market position and deliver sustainable long-term value for our shareholders."

Fiscal Year 2025 Financial Results

Revenues

Revenues were $307.7 million for fiscal year 2025, a decrease from $314.9 million for fiscal year 2024. The decrease was primarily driven by lower market prices for fuel oil compared to fiscal year 2024. This price decline led to a contraction in fuel oil trading volumes.

  • Revenue from sales of crude oil was $182.6 million for fiscal year 2025, an increase from $169.5 million for fiscal year 2024. The increase was due to higher volumes of crude oil sold in fiscal year 2025 compared to fiscal year 2024, even though the average crude oil price was lower in line with world crude oil price trends.
  • Revenue from sales of oil-based products was $125.1 million for fiscal year 2025, a decrease from $145.4 million for fiscal year 2024. The decrease was primarily attributable to the lower average selling prices realized in fiscal year 2025 relative to fiscal year 2024, rather than a reduction in the Company's core trading activity.

Cost of Revenue

Cost of revenue was $305.2 million for fiscal year 2025, a decrease from $310.6 million for fiscal year 2024. The decrease was primarily driven by lower average procurement prices for fuel oil and Methyl tert-butyl ether ("MTBE") during the period. While trading volumes for these products increased, the impact of lower unit costs resulted in an overall reduction in the cost of revenue.

Gross Profit and Gross Profit Margin

Gross profit was $2.5 million for fiscal year 2025, a decrease from $4.3 million for fiscal year 2024, as a result of the lower revenues generated during fiscal year 2025 compared to fiscal year 2024.

Gross profit margin was 0.8% for fiscal year 2025, a decrease from 1.4% for fiscal year 2024.

General and Administrative Expenses

General and administrative expenses were $7.1 million for fiscal year 2025, an increase from $3.6 million for fiscal year 2024. This increase was primarily attributable to an increase of $4.9 million in consulting and advisory fees, a new expense category in the fiscal year 2025. These fees were focused on expanding the Company's product portfolio, strengthening its market positioning, and executing strategic business cooperations in alignment with its use of proceeds. These costs were partially offset by a significant reduction in freight and handling charges, which decreased to $0.1 million from $2.1 million in fiscal year 2024.

Net Income (Loss)

Net loss was $4.5 million for fiscal year 2025, compared to a net income of $1.0 million for fiscal year 2024.

Basic and Diluted Loss (Income) per Share

Basic and diluted loss per share was $0.29 for fiscal year 2025, compared to basic and diluted income per share of $0.07 for fiscal year 2024.  

Financial Condition

As of December 31, 2025, the Company had cash and cash equivalents of $1.8 million, compared to $3.3 million as of December 31, 2024.

Net cash used in operating activities was $5.2 million for fiscal year 2025, compared to net cash provided by operating activities of $0.6 million for fiscal year 2024.

Net cash provided by investing activities was $0.2 million for fiscal year 2025, compared to $0.6 million for fiscal year 2024.

Net cash provided by financing activities was $3.5 million for fiscal year 2025, compared to net cash used in financing activities of $6.1 million for fiscal year 2024.

About Delixy Holdings Limited

Delixy Holdings Limited is a Singapore-based company principally engaged in the trading of oil-related products, including (i) crude oil and (ii) oil-based products such as fuel oil, motor gasoline, additives, gas oil, base oil, asphalt, naphtha (heavy gasoline) and petrochemicals. Operating across multiple countries in Southeast Asia, East Asia, and Middle East, Delixy has established a strong presence in the region's oil trading markets. While Delixy maintains a diversified portfolio of oil products, crude oil trading represents a core aspect of its business. The Company leverages its strong existing relationships with customers and suppliers as well as deep industry expertise to provide value-added services, including tailored recommendations on optimal trading strategies and shipping and logistical support where required. In addition, the Company's financing capabilities allow it to extend credit terms to customers while satisfying suppliers' immediate payment terms. For more information, please visit the Company's website: https://ir.delixy.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "believe", "plan", "expect", "intend", "should", "seek", "estimate", "will", "aim" and "anticipate" or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Registration Statement and other filings with the U.S. Securities and Exchange Commission (the "SEC").

For media inquiries, please contact:

Delixy Holdings Limited
Investor Relations Department
Email: ir@delixy.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)






As of December 31,


Note

2024

2025





US$'000

US$'000

ASSETS








Current assets:








 Cash and cash equivalents





3,343


1,793

Accounts receivable, net

4


17,519


22,399

Deposits, prepayments and other receivables

5


575


2

Amount due from shareholder

6


152


95

Derivative financial instruments

7


685


582

Total current assets





22,274


24,871













Non-current assets:











Property and equipment, net

8


**


1

Right-of-use assets, net

9


62


16

Deferred offering costs

10


1,321


—

Total non-current assets





1,383


17













TOTAL ASSETS





23,657


24,888













LIABILITIES AND SHAREHOLDERS' EQUITY











Current liabilities:











Accounts payable





17,067


20,214

Accrued liabilities

11


50


237

Other payables





—


180

Lease liabilities

13


42


16

Loan from shareholder

12


—


4,000

Income tax payable

18


127


136

Total current liabilities





17,286


24,783













Non-current liabilities:











Lease liabilities

13


18


—

Loan from shareholder

12


5,000


—

Total non-current liabilities





5,018


—













TOTAL LIABILITIES





22,304


24,783













Commitments and contingencies

21


—


—

Shareholders' equity:











Ordinary share, par value US$0.000005, 100,000,000,000 shares
   authorized, 16,350,000 shares issued*

14


**


**

Additional paid-up capital





695


3,910

Retained earnings/(accumulated deficit)





612


(3,851)

Other reserve

15


46


46

Total shareholders' equity





1,353


105

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY





23,657


24,888

*

Retrospectively restated for the effect of 1:200 forward stock split of the Company's Ordinary Shares and the
shares surrendered by its existing shareholders.

**

— Denotes amount less than US$1,000.

 

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME/(LOSS)
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)






Financial Years ended
December 31,


Note

2023

2024

2025





US$'000

US$'000

US$'000

Revenues

3,16


289,166


314,916


307,747

Cost of revenue




(285,037)


(310,618)


(305,203)

Gross profit




4,129


4,298


2,544

General and administrative expenses




(3,007)


(3,592)


(7,077)

Profit/(loss) from operations




1,122


706


(4,533)















Other income:

17











Foreign exchange gain




3


5


—

Interest income




250


183


63

Gain on disposal of property




—


177


—

Shipping charges reimbursed




—


50


141

Other income




2


5


2

Total other income




255


420


206















Income/(loss) before income tax




1,377


1,126


(4,327)















Income tax expense

18


(225)


(98)


(136)

NET INCOME/(LOSS)




1,152


1,028


(4,463)















TOTAL COMPREHENSIVE INCOME/(LOSS)




1,152


1,028


(4,463)















Net income/(loss) per Share













Basic and diluted*




0.08


0.07


(0.29)

Weighted average number of ordinary shares outstanding
   Basic and diluted*




15,000,000


15,000,000


15,647,260

 

*

Retrospectively restated for the effect of 1:200 forward stock split of the Company's Ordinary Shares and the
shares surrendered by its existing shareholders.

 

 

DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW
(Amount in USD thousands, except for Share and per Share data, or otherwise noted)



Financial Years ended
December 31,


2023

2024

2025


US$'000

US$'000

US$'000

Cash flows from operating activities:








Net income/(loss) after tax

1,152


1,028


(4,463)

Depreciation of property and equipment

24


11


**

Amortization of right-of-use assets

43


57


44

Gain on disposal of property

—


(177)


—

Interest expense

23


178


7

Fair value gain on derivative financial instruments

(21)


—


—













Change in working capital:











Accounts receivable, net

2,716


(16,806)


(4,880)

Deposits, prepayments and other receivables

24


(540)


573

Accounts payable

—


17,067


3,147

Other payables

—


—


180

Accrued liabilities

(44)


(25)


187

Lease liabilities

(47)


(62)


(44)

Income tax payable

200


(119)


9

Interest paid

(20)


—


(5)

Net cash provided by/(used in) operating activities

4,050


612


(5,245)













Cash flows from investing activities:











Derivative financial instruments

(107)


(78)


103

Proceeds from disposal of property

—


957


—

Amount due from shareholder

(81)


(327)


57

Net cash (used in) /provided by investing activities

(188)


552


160













Cash flows from financing activities:











Amount due to related party

(175)


—


—

Purchase of property and equipment

—


—


(1)

Repayment of loan

—


—


(1,000)

Payment of offering costs

—


(1,321)


—

Proceed from issuance of stock

—


—


4,536

Dividend paid

(1,500)


(4,745)


—

Net cash (used in)/ provided by financing activities

(1,675)


(6,066)


3,535













Net change in cash and cash equivalents

2,187


(4,902)


(1,550)













BEGINNING OF FINANCIAL YEAR

6,058


8,245


3,343













END OF FINANCIAL YEAR

8,245


3,343


1,793













Supplemental Cash Flow Information:











Cash paid for income taxes

(25)


(219)


(127)

Cash paid for interest

(23)


(3)


(7)


























Supplemental schedule of noncash financing activities











Loan from shareholder

—


5,000


—

Dividend payable

—


(5,000)


—

  ** — Denotes amount less than US$1,000.

 

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SOURCE Delixy Holdings Limited