Income Statement Progressive Path Group Holdings Limited

Stocks

1581

KYG725391109

Construction & Engineering

Market Closed - Hong Kong S.E. Other stock markets 04:08:08 2026-06-18 EDT			5-day change	1st Jan Change
0.3000 ^HKD	-6.25%		-7.69%	+42.18%

06-18	Progressive Path Group Flags Drop in Fiscal Profit	MT
03-02	Progressive Path Group Holdings Limited Appoints Du Hanzhi as Independent Non-Executive Director and Chairman of Remuneration Committee and Member of Audit Committee and Nomination Committee, Effective March 2, 2026	CI

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Published financial data: PROGRESSIVE PATH GROUP HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	436M	516M	511M	729M	914M
Total Revenues	436M	516M	511M	729M	914M
Cost of Goods Sold, Total	414M	482M	507M	671M	850M
Gross Profit	21.92M	33.64M	3.68M	57.77M	63.44M
Selling General & Admin Expenses, Total	21.82M	23.58M	23.88M	22.23M	25.33M
Provision for Bad Debts	9.11M	-1.6M	9.94M	1.53M	4.37M
Depreciation & Amortization - (IS)	-	-	-	-	-
Other Operating Expenses, Total	30.93M	21.98M	33.82M	23.75M	29.7M
Operating Income	-9.01M	11.66M	-30.15M	34.02M	33.74M
Interest Expense, Total	-5.32M	-6.48M	-10.56M	-14.65M	-10.75M
Interest And Investment Income	-	63K	516K	388K	538K
Net Interest Expenses	-5.32M	-6.41M	-10.05M	-14.27M	-10.21M
Other Non Operating Income (Expenses)	1.08M	2.89M	7.32M	2.85M	3.04M
EBT, Excl. Unusual Items	-13.25M	8.13M	-32.88M	22.6M	26.56M
Gain (Loss) On Sale Of Assets	1.48M	3.3M	649K	508K	1.9M
Insurance Settlements	414K	1.29M	169K	783K	679K
Other Unusual Items	13.01M	-	10.28M	-	326K
EBT, Incl. Unusual Items	1.65M	12.72M	-21.78M	23.89M	29.47M
Income Tax Expense	-2.09M	587K	176K	1.67M	-4.63M
Earnings From Continuing Operations	3.74M	12.13M	-21.96M	22.22M	34.1M
Net Income to Company	3.74M	12.13M	-21.96M	22.22M	34.1M
Minority Interest	-	-	-	1K	-
Net Income - (IS)	3.74M	12.13M	-21.96M	22.22M	34.1M
Net Income to Common Incl Extra Items	3.74M	12.13M	-21.96M	22.22M	34.1M
Net Income to Common Excl. Extra Items	3.74M	12.13M	-21.96M	22.22M	34.1M
Per Share Items
Net EPS - Basic	0.02	0.06	-0.07	0.05	0.08
Basic EPS - Continuing Operations	0.02	0.06	-0.07	0.05	0.08
Basic Weighted Average Shares Outstanding	208M	208M	325M	415M	415M
Net EPS - Diluted	0.02	0.06	-0.07	0.05	0.08
Diluted EPS - Continuing Operations	0.02	0.06	-0.07	0.05	0.08
Diluted Weighted Average Shares Outstanding	208M	208M	325M	415M	415M
Normalized Basic EPS	-0.04	0.02	-0.06	0.03	0.04
Normalized Diluted EPS	-0.04	0.02	-0.06	0.03	0.04
Supplemental Items
EBITDA	19.04M	40.58M	20.22M	70.46M	66.96M
EBITA	-9.01M	11.66M	-30.15M	34.02M	33.74M
EBIT	-9.01M	11.66M	-30.15M	34.02M	33.74M
EBITDAR	-	112M	103M	145M	135M
Effective Tax Rate - (Ratio)	-126.27	4.62	-0.81	6.99	-15.72
Current Domestic Taxes	46K	115K	170K	315K	-
Total Current Taxes	46K	115K	170K	315K	-
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-2.13M	416K	-21K	1.35M	-4.63M
Normalized Net Income	-8.28M	5.08M	-20.55M	14.13M	16.6M
Interest on Long-Term Debt	4.09M	4.79M	6.9M	8.84M	6.18M
Supplemental Operating Expense Items
General and Administrative Expenses	21.82M	23.58M	23.88M	22.23M	25.33M
Net Rental Expense, Total	-	71.78M	82.68M	74.76M	67.67M
Imputed Operating Lease Interest Expense	-	25.09M	35.37M	43.86M	38.33M
Imputed Operating Lease Depreciation	-	46.68M	47.31M	30.9M	29.34M
Maintenance & Repair Expenses, Total	-	-	-	-	-

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	16.78M	17.26M	27.31M	28.46M	30.4M
Short Term Investments	5.38M	10.07M	8.31M	11.31M	22.99M
Total Cash And Short Term Investments	22.17M	27.33M	35.62M	39.77M	53.39M
Accounts Receivable, Total	200M	211M	231M	300M	348M
Other Receivables	-	8K	-	16K	555K
Total Receivables	200M	211M	231M	300M	349M
Inventory	-	-	-	-	-
Prepaid Expenses	8.46M	10.01M	12.8M	16.27M	6.89M
Other Current Assets, Total	3.26M	3.51M	4.95M	6.07M	241K
Total Current Assets	234M	252M	284M	362M	409M
Gross Property Plant And Equipment	456M	563M	716M	767M	770M
Accumulated Depreciation	-307M	-348M	-436M	-534M	-591M
Net Property Plant And Equipment	150M	215M	280M	233M	179M
Other Long-Term Assets, Total	6.44M	4.4M	2.72M	2M	2.83M
Total Assets	390M	471M	567M	597M	591M
Liabilities
Accounts Payable, Total	38.03M	37.92M	49.83M	84.8M	73.56M
Accrued Expenses, Total	20.46M	19.6M	19.49M	23.1M	14.01M
Short-term Borrowings	40.6M	78.84M	77.65M	74.79M	59.31M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	39.39M	41.41M	68.68M	58.82M	36.66M
Current Income Taxes Payable	38K	3K	56K	184K	-
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	17.39M	19.28M	42.38M	36.59M	90.78M
Total Current Liabilities	156M	197M	258M	278M	274M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	34.28M	61.92M	66.67M	53.05M	21.05M
Deferred Tax Liability Non Current	7.57M	7.99M	7.97M	9.32M	4.69M
Total Liabilities	198M	267M	333M	341M	300M
Common Stock, Total	10.38M	10.38M	20.75M	20.75M	20.75M
Additional Paid In Capital	109M	109M	151M	151M	151M
Retained Earnings	72.54M	84.67M	62.71M	84.94M	119M
Comprehensive Income and Other	-	-	-	-	-
Total Common Equity	192M	204M	234M	257M	291M
Minority Interest	-16K	-16K	-16K	-17K	-
Total Equity	192M	204M	234M	257M	291M
Total Liabilities And Equity	390M	471M	567M	597M	591M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	208M	208M	415M	415M	415M
ECS Total Common Shares Outstanding	208M	208M	415M	415M	415M
Book Value / Share	0.93	0.98	0.56	0.62	0.7
Tangible Book Value	192M	204M	234M	257M	291M
Tangible Book Value Per Share	0.93	0.98	0.56	0.62	0.7
Total Debt	114M	182M	213M	187M	117M
Net Debt	92.1M	155M	177M	147M	63.63M
Debt Equivalent Oper. Leases	-	574M	661M	598M	541M
Minority Interest, Total (Incl. Fin. Div)	-16K	-16K	-16K	-17K	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	-	-	-	-	-
Land - (BS)	9.69M	9.69M	9.69M	9.69M	9.69M
Buildings, Total	-	-	-	-	-
Machinery, Total	277M	371M	442M	463M	559M
Full Time Employees	512	508	70	69	64
Accumulated Allowance for Doubtful Accounts (Supple)	25.36M	23.08M	31.88M	33.44M	33.09M
Order Backlog	148M	121M	181M	143M	647M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	3.74M	12.13M	-21.96M	22.22M	34.1M
Depreciation & Amortization - CF	60.09M	71.66M	98.16M	102M	97.97M
Depreciation & Amortization, Total	60.09M	71.66M	98.16M	102M	97.97M
(Gain) Loss From Sale Of Asset	-1.48M	-3.3M	-649K	-508K	-1.9M
Provision and Write-off of Bad Debts	9.11M	-1.6M	9.94M	1.53M	4.37M
Other Operating Activities, Total	-9.75M	5.58M	319K	15.52M	5.68M
Change In Accounts Receivable	-25.1M	-9.65M	-29.66M	-70.66M	-52.77M
Change In Inventories	-	-	-	-	-
Change In Accounts Payable	11.59M	911K	21.44M	33.7M	20.99M
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	2.12M	-45K	1.6M	-1.71M	-916K
Cash from Operations	50.32M	75.68M	79.2M	102M	108M
Capital Expenditure	-33.27M	-42.84M	-41.16M	-13.87M	-31.75M
Sale of Property, Plant, and Equipment	5.64M	7.04M	1.1M	609K	2.32M
Other Investing Activities, Total	3.27M	-5.46M	-4.06M	-4.71M	3.45M
Cash from Investing	-24.36M	-41.26M	-44.12M	-17.97M	-25.98M
Short Term Debt Issued, Total	89.98M	123M	188M	240M	266M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	89.98M	123M	188M	240M	266M
Short Term Debt Repaid, Total	-76.32M	-85.18M	-189M	-243M	-282M
Long-Term Debt Repaid, Total	-44.03M	-66.99M	-75.78M	-65.93M	-61.49M
Total Debt Repaid	-120M	-152M	-265M	-309M	-343M
Issuance of Common Stock	-	-	53.95M	-	-
Other Financing Activities, Total	7.69M	-5.2M	-2M	-14.43M	-2.64M
Cash from Financing	-22.68M	-33.95M	-25.02M	-83.22M	-79.6M
Net Change in Cash	3.27M	475K	10.05M	1.15M	1.94M
Supplemental Items
Cash Interest Paid	5.32M	6.48M	10.56M	14.65M	10.75M
Cash Income Tax Paid (Refund)	-22K	206K	144K	187K	423K
Levered Free Cash Flow	15.04M	19.88M	42.58M	59.65M	72.14M
Unlevered Free Cash Flow	18.37M	23.92M	49.18M	68.81M	78.86M
Change In Net Working Capital	2.82M	12.19M	-11.02M	40.82M	8.44M
Net Debt Issued / Repaid	-30.37M	-28.75M	-76.97M	-68.79M	-76.96M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	-1.5	1.69	-3.63	3.65	3.55
Return on Total Capital	-1.89	2.1	-4.52	4.77	4.96
Return On Equity %	1.97	6.13	-10.02	9.05	12.46
Return on Common Equity	1.97	6.12	-10.01	9.05	12.46
Margin Analysis
Gross Profit Margin %	5.03	6.52	0.72	7.93	6.94
SG&A Margin	5.01	4.57	4.67	3.05	2.77
EBITDA Margin %	4.37	7.87	3.96	9.67	7.33
EBITA Margin %	-2.07	2.26	-5.9	4.67	3.69
EBIT Margin %	-2.07	2.26	-5.9	4.67	3.69
Income From Continuing Operations Margin %	0.86	2.35	-4.3	3.05	3.73
Net Income Margin %	0.86	2.35	-4.3	3.05	3.73
Net Avail. For Common Margin %	0.86	2.35	-4.3	3.05	3.73
Normalized Net Income Margin	-1.9	0.98	-4.02	1.94	1.82
Levered Free Cash Flow Margin	3.45	3.85	8.33	8.19	7.89
Unlevered Free Cash Flow Margin	4.22	4.64	9.62	9.45	8.63
Asset Turnover
Asset Turnover	1.16	1.2	0.98	1.25	1.54
Fixed Assets Turnover	3.02	2.83	2.06	2.84	4.44
Receivables Turnover (Average Receivables)	2.27	2.51	2.31	2.75	2.82
Short Term Liquidity
Current Ratio	1.5	1.28	1.1	1.3	1.49
Quick Ratio	1.42	1.21	1.03	1.22	1.47
Operating Cash Flow to Current Liabilities	0.32	0.38	0.31	0.37	0.39
Days Sales Outstanding (Average Receivables)	160.7	145.31	157.77	133.29	129.45
Average Days Payable Outstanding	30.96	28.74	31.56	36.73	33.99
Long Term Solvency
Total Debt/Equity	59.52	89.25	90.88	72.74	40.25
Total Debt / Total Capital	37.31	47.16	47.61	42.11	28.7
LT Debt/Equity	17.85	30.34	28.45	20.67	7.24
Long-Term Debt / Total Capital	11.19	16.03	14.9	11.97	5.16
Total Liabilities / Total Assets	50.74	56.67	58.67	57.04	50.79
EBIT / Interest Expense	-1.69	1.8	-2.85	2.32	3.14
EBITDA / Interest Expense	9.6	12.86	6.44	9.3	12.25
(EBITDA - Capex) / Interest Expense	3.35	6.25	2.54	8.35	9.3
Total Debt / EBITDA	2.24	2.19	3.13	1.37	0.89
Net Debt / EBITDA	1.8	1.86	2.61	1.08	0.48
Total Debt / (EBITDA - Capex)	6.42	4.5	7.93	1.53	1.17
Net Debt / (EBITDA - Capex)	5.17	3.82	6.6	1.2	0.64
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	39.58	18.45	-0.96	42.56	25.43
Gross Profit, 1 Yr. Growth %	64.36	53.48	-89.07	1.47K	9.8
EBITDA, 1 Yr. Growth %	117.51	113.09	-50.18	248.48	-4.97
EBITA, 1 Yr. Growth %	-28.54	-229.39	-358.59	-212.84	-0.82
EBIT, 1 Yr. Growth %	-28.54	-229.39	-358.59	-212.84	-0.82
Earnings From Cont. Operations, 1 Yr. Growth %	-123.93	224.53	-281.02	-201.2	53.44
Net Income, 1 Yr. Growth %	-123.96	224.53	-281.02	-201.21	53.43
Normalized Net Income, 1 Yr. Growth %	-16.5	-161.74	-504.37	-168.74	17.52
Diluted EPS Before Extra, 1 Yr. Growth %	-123.96	224.54	-215.57	-179.26	53.44
Accounts Receivable, 1 Yr. Growth %	8.7	5.63	9.35	29.96	16.14
Net Property, Plant and Equip., 1 Yr. Growth %	7.7	43.53	30.5	-16.77	-23.45
Total Assets, 1 Yr. Growth %	7.43	20.87	20.39	5.32	-1.09
Tangible Book Value, 1 Yr. Growth %	1.99	6.32	14.83	9.48	13.28
Common Equity, 1 Yr. Growth %	1.99	6.32	14.83	9.48	13.28
Cash From Operations, 1 Yr. Growth %	-28.66	50.41	4.64	30.06	5.06
Capital Expenditures, 1 Yr. Growth %	-23.18	28.77	-3.91	-66.3	128.91
Levered Free Cash Flow, 1 Yr. Growth %	-38.03	32.15	114.22	40.11	6.05
Unlevered Free Cash Flow, 1 Yr. Growth %	-34.89	30.26	105.57	39.92	2.17
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	40.29	28.58	8.31	18.83	33.72
Gross Profit, 2 Yr. CAGR %	6.52	58.83	-59.03	31.05	315.3
EBITDA, 2 Yr. CAGR %	118.97	115.29	3.04	31.76	81.98
EBITA, 2 Yr. CAGR %	-56.32	-3.85	82.92	70.82	5.79
EBIT, 2 Yr. CAGR %	-56.32	-3.85	82.92	70.82	5.79
Earnings From Cont. Operations, 2 Yr. CAGR %	-71.34	-11.87	142.37	35.35	24.61
Net Income, 2 Yr. CAGR %	-71.34	-11.81	142.37	35.35	24.61
Normalized Net Income, 2 Yr. CAGR %	-49.03	-28.42	58.01	66.73	-10.12
Diluted EPS Before Extra, 2 Yr. CAGR %	-71.34	-11.81	93.67	-4.29	10.28
Accounts Receivable, 2 Yr. CAGR %	6.59	7.15	7.47	19.21	22.86
Net Property, Plant and Equip., 2 Yr. CAGR %	18.05	24.33	36.86	4.21	-20.18
Total Assets, 2 Yr. CAGR %	5.33	13.95	20.63	12.6	2.06
Tangible Book Value, 2 Yr. CAGR %	-2.95	4.13	10.49	12.13	11.36
Common Equity, 2 Yr. CAGR %	-2.95	4.13	10.49	12.13	11.36
Cash From Operations, 2 Yr. CAGR %	5.61	3.59	25.46	16.28	16.9
Capital Expenditures, 2 Yr. CAGR %	-16.3	-0.54	11.23	-43.1	-12.17
Levered Free Cash Flow, 2 Yr. CAGR %	-13.99	-9.5	68.26	73.25	30.17
Unlevered Free Cash Flow, 2 Yr. CAGR %	-11.82	-7.91	63.64	69.6	26.63
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.49	32.59	17.87	18.7	20.99
Gross Profit, 3 Yr. CAGR %	-15.73	20.31	-34.91	38.14	23.55
EBITDA, 3 Yr. CAGR %	-38.04	116.99	32.18	54.66	18.16
EBITA, 3 Yr. CAGR %	12.56	-37.27	33.72	55.71	42.51
EBIT, 3 Yr. CAGR %	12.56	-37.27	33.72	55.71	42.51
Earnings From Cont. Operations, 3 Yr. CAGR %	-13.19	-35.64	12.03	81.16	41.13
Net Income, 3 Yr. CAGR %	-13.19	-35.64	12.08	81.16	41.13
Normalized Net Income, 3 Yr. CAGR %	39.07	-45.78	27.48	19.73	48.38
Diluted EPS Before Extra, 3 Yr. CAGR %	-13.19	-35.64	-3.49	43.79	12.01
Accounts Receivable, 3 Yr. CAGR %	-4.51	6.27	7.88	14.5	18.18
Net Property, Plant and Equip., 3 Yr. CAGR %	10.02	26	26.36	15.95	-5.97
Total Assets, 3 Yr. CAGR %	-4.1	10.27	16.06	15.29	7.84
Tangible Book Value, 3 Yr. CAGR %	-8.72	0.04	7.58	10.16	12.51
Common Equity, 3 Yr. CAGR %	-8.72	0.04	7.58	10.16	12.51
Cash From Operations, 3 Yr. CAGR %	24.61	18.82	3.94	26.7	12.41
Capital Expenditures, 3 Yr. CAGR %	22.14	-3.38	-1.68	-25.29	-9.5
Levered Free Cash Flow, 3 Yr. CAGR %	34.57	-0.75	20.61	58.3	53.68
Unlevered Free Cash Flow, 3 Yr. CAGR %	21.44	0.42	20.36	55.32	48.83
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.25	1.27	6	26.9	23.97
Gross Profit, 5 Yr. CAGR %	-19.87	-13.06	-36.85	24.5	36.61
EBITDA, 5 Yr. CAGR %	-30.33	-19.22	-24.06	77.74	50.21
EBITA, 5 Yr. CAGR %	-30.19	-23.57	36.69	-6.35	21.76
EBIT, 5 Yr. CAGR %	-30.19	-23.57	36.69	-6.35	21.76
Earnings From Cont. Operations, 5 Yr. CAGR %	-36.69	-12.7	30.9	-13.35	16.9
Net Income, 5 Yr. CAGR %	-36.69	-12.7	30.9	-13.35	16.93
Normalized Net Income, 5 Yr. CAGR %	-23.25	-28.05	46.17	-15.02	10.85
Diluted EPS Before Extra, 5 Yr. CAGR %	-39.53	-15.37	19.67	-24.57	1.8
Accounts Receivable, 5 Yr. CAGR %	4.96	-2.3	0.11	11.27	13.64
Net Property, Plant and Equip., 5 Yr. CAGR %	1.86	7.45	20.06	16.79	5.15
Total Assets, 5 Yr. CAGR %	2.99	-1.11	5.12	11.2	10.24
Tangible Book Value, 5 Yr. CAGR %	7.72	-3.72	-1.47	4.71	9.08
Common Equity, 5 Yr. CAGR %	7.72	-3.72	-1.47	4.71	9.08
Cash From Operations, 5 Yr. CAGR %	8.01	3.72	24.95	17.8	8.8
Capital Expenditures, 5 Yr. CAGR %	2.67	12.45	17.65	-21.82	-6.02
Levered Free Cash Flow, 5 Yr. CAGR %	27.7	5.4	47.15	24.02	24.34
Unlevered Free Cash Flow, 5 Yr. CAGR %	14.92	3.9	36.83	23.84	22.83