OIO Holdings Limited FY2024 Financial Report: Net Profit Declines by 318%

Business Description

OIO Holdings Limited is a Singapore-based company that operates in the blockchain and cryptocurrency industry. The company’s core business segments include cryptocurrency exchange, blockchain infrastructure development, and digital asset management services. OIO Holdings has a global footprint, with operations in Singapore, Japan, and Europe.

Industry Position and Competitive Landscape

OIO Holdings operates in the highly competitive blockchain and cryptocurrency industry, facing competition from both established players and emerging startups. The company’s market share and position within the industry are not clearly disclosed in the financial report.

Financial Statement Analysis

Based on the financial statements provided in the FY2024 Annual Report, OIO Holdings has experienced significant financial challenges:

Income Statement

– The company reported a net loss of \$4,309,661 in FY2024, a significant increase from the net loss of \$1,031,859 in FY2023, representing a 318% decline in net profit.

Balance Sheet

– As of December 31, 2024, the company reported net current liabilities of \$865,262 and negative equity of \$5,851,744, indicating a highly leveraged financial position. – The company’s intangible assets include \$1,431,265 in cryptocurrencies, which can be easily converted to fiat currencies.

Cash Flow Statement

– The company reported net operating cash outflows of \$2,132,988 in FY2024, a slight improvement from \$3,159,286 in FY2023.

Dividend and Earnings

The financial report does not mention any dividend payments or proposed dividends.

Key Findings and Recommendations

Based on the analysis of the financial statements, there are significant concerns about OIO Holdings’ ability to continue as a going concern. The company’s substantial net losses, negative equity, and reliance on shareholder support raise doubts about its long-term viability.

Recommendation for Current Shareholders

If you are currently holding OIO Holdings stock, it is recommended to consider selling your shares due to the company’s poor financial performance and uncertain future. The significant net losses and negative equity position pose significant risks for investors.

Recommendation for Potential Investors

Given the company’s financial challenges and the material uncertainty related to its going concern, it is not recommended to invest in OIO Holdings at this time. The risks outweigh the potential rewards, and there are likely better investment opportunities available in the market.

Disclaimer

This report is based solely on the information provided in the FY2024 Annual Report of OIO Holdings Limited. The recommendations made are based on the analysis of the financial statements and the company’s current financial position. Investors should conduct their own due diligence and seek professional financial advice before making any investment decisions.

View OIO Historical chart here