Singapore, 28 February 2025 — CDW Holding Limited, a precision components specialist listed on the SGX Mainboard, today announced its financial results for the year ended 31 December 2024, highlighting ongoing strategic investments in its life sciences business despite a challenging market environment.
For the full year ended 31 December 2024, the Group reported revenue of US$85.8 million, a decrease of 21.4% compared to the previous year. Gross profit stood at US$13.6 million, down 27.6% year-on-year. The Group recorded a loss attributable to owners of the Company of US$4.5 million, compared to a loss of US$1.1 million in the prior year. Basic and diluted loss per share were US$0.0199, reflecting a substantial increase over the previous year’s US$0.0048 per share.
Despite these financial pressures, CDW Holding Limited continued to invest in its life sciences division, advancing antibody research and technologies aimed at addressing major disease markets. The Group remains committed to diversifying its business portfolio and strengthening its footprint in the rapidly growing biotech sector.
Mr. KATO Tomonori, Chairman and CEO of CDW Holding Limited, commented: “While the global economic environment has presented significant challenges, we remain focused on our long-term strategy, particularly in expanding our life sciences business. Our investments in innovative antibody technologies position us for future growth and resilience.”
Key Financial Highlights for FY2024
- Revenue: US$85.8 million (2023: US$109.2 million)
- Gross Profit: US$13.6 million (2023: US$18.7 million)
- Loss Attributable to Owners: US$4.5 million (2023: US$1.1 million)
- Basic/Diluted Loss Per Share: US$0.0199 (2023: US$0.0048)
- Cash and Bank Balances: US$26.6 million as at 31 December 2024
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CDW Holding Limited (the “Company” and together with its subsidiaries, the “Group”) is a Japanese-managed precision components specialist serving the global market focusing on the production and supply of niche precision components for digital instrument panels in the automobile industry, notebook computers, consumer and information technology equipment, office equipment and electrical appliances, and an original equipment manufacturer. The Group is headquartered in Hong Kong and has operations in Japan, China, South Korea, Thailand and the Philippines. The Company has been identifying new businesses to invest in with the potential for growth and entered as part of its diversification strategy and has made forays into the Life Sciences sector since 2016. The Company’s aim for its Life Sciences business is to identify research-driven yet commercialisable projects that can have a positive impact on the quality of human life.
