- Yoma Strategic (SGX:Z59) reported its highest six-month revenue in 1H26, resulting in narrower losses of US$8.7mil (1H25: -US$10.5mil). Property development registered another strong performance with net profit doubling to US$15mil. However, finance costs remain the largest expense at US$18mil (1H25: US$20.1mil).
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- Despite the 9% decline in currency, Yoma managed to grow core EBITDA by 50% y-o-y to US$20.5mil in 1H26. The ability to raise prices in an inflationary environment has been pivotal in growing operating earnings. Property development is performing strongly due to its projects of good amenities and infrastructure. Food and beverage earnings have been stable with continuous price increases to sustain margins. Mobile finance is transitioning toward payments and deposit float as a source of profitability.
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1H26 Result Highlights
Property is the core earnings and cash flow generator.
- Since the 2021 coup, Yoma Land has sold around US$450mil in residential properties in Myanmar. Demand for properties has been stellar due to urbanisation, relocation, and Yoma Land’s reputation as a reliable developer with an established track record. Property demand is also supplemented as a hedge against domestic inflation and a currency hedge.
- Yoma Land has managed to raise prices to counter weakness in the Myanmar kyat.
Pun Hlaing Estate projects drive up 1H26 margins.
- Read more at SGinvestors.io.
