Skylink Holdings - KGI Research 2026-06-30: Strong Post-RTO Performance; Integrated Ecosystem Scaling

• Skylink (SGX:XZB) posted strong inaugural post-RTO results, with revenue rising 34.1% y-o-y to S$35.36m, gross profit up 45.9% y-o-y to S$9.91m and gross profit margin improving 2.3ppt to 28.0%.

• - Read this at SGinvestors.io -

• Operating cash flow remained healthy at S$11.97m.

Commercial vehicle leasing remained the core growth engine.

• Leasing revenue increased 37.8% y-o-y to S$26.05m, supported by a larger fleet, higher utilisation and stronger long-term contract mix. Fleet size rose to 1,366 vehicles, while total active contracts increased to 1,264, with 1,151 contracts of one year and above.

• The segment’s gross margin improved to 17.9%, despite higher COE-driven depreciation.

COE and EV transition support FY27 leasing growth.

• - Read this at SGinvestors.io -

• With around 21% of commercial vehicles reaching the 10-year lifecycle and management planning to add around 100 vehicles over the next year, of which around 90% are expected to be EVs.

Credit business prioritises higher-yield loan-book growth.

• Read more at SGinvestors.io.

Chen Guangzhi CFA KGI Securities Research | https://www.kgieworld.sg/ 2026-06-30

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