Delta, British Columbia--(Newsfile Corp. - May 29, 2025) - Fab-Form Industries Ltd. (TSXV: FBF) ("Fab-Form" or the "Company") today released its financial results for the quarter ended 31 March 2025.
Financial Highlights
Revenue for the quarter increased slightly to $772,753 compared to $748,002 in the same period last year, reflecting a modest 3.31% growth resulting from an increase in Fastfoot sales.
Gross profit remained stable at $240,911, with a gross margin of 31%, slightly less than 32% in the prior year, primarily due to increased US tariffs.
Operating expenses increased significantly by 21%, driven by higher general and administrative expenses (+27.52%) and marketing costs (+5.0%) as the Company continues to invest in its expansion strategy.
Earnings from operations declined by 65.7% to $19,769, compared to $57,708 in the same period last year.
Other income fell by 37,97% to $37,967 as a result of high exposure to the US dollar and a reduction of GIC rates.
Net earnings for the period stood at $40,335, down 52.63% from the previous year's $85,157.
"We are committed to expanding into global markets by participating in the Dubai Construction Expo in November 2025", said Joey Fearn, CEO. "This is a significant milestone as we actively seek dealer partnerships across the Asian and African regions. Feedback from contractors in Nigeria has been particularly encouraging, showing a strong market potential of Fast-Tube in Africa. We are preparing our infrastructure to support these markets".
Financial Position
As of March 31, 2025, the Company had cash and cash equivalents of $0.98 million and short-term investments increased to $3.56 million, ensuring strong liquidity.
Total assets grew to $6.68 million, up from $5.84 million in the previous year.
The Company remains debt-light, with total liabilities of $898,560, ensuring financial stability and flexibility for future growth.
Product and Market Update
Fab-Form continues to focus on its core product lines while advancing innovative solutions in concrete forming technology. The Company has also achieved significant milestones:
Final design of KLiP was completed subsequent to quarter end and sent for moulding. KLiP enables easy alignment of Fast-Tube before pouring concrete.
Space-R, a concrete stirrup assembly, a method of reinforcing a concrete column. The initial design and core product concept have been finished. The prototype production machine has now been started. FBF Engineering will have finished product for the Dubai show in November 2025. Space-R, KLiP, and Fast-Tube will enable the construction of fabric concrete columns worldwide.
Monopour HD and Level-R - Production order of was received on May 12, 2025, introducing new revenue streams to the Company. An increase in Fastfoot sales is also anticipated, driven by growing demand for Level-R.
Forward-Looking Statements
Certain statements in this release constitute forward-looking information within the meaning of applicable securities laws. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking statements.
Fab-Form Industries Ltd. does not undertake to update forward-looking statements, except as required by applicable laws.
About Fab-Form
Fab-Form Industries Ltd. is a leading innovator in concrete forming solutions, committed to enhancing construction efficiency and sustainability worldwide. The Company has been listed on the TSX Venture Exchange (TSXV: FBF) since 2000.
For further information, please contact:
Joseph Fearn
CEO, Fab-Form Industries Ltd.
Email: joey@fab-form.com
Phone: 604-596-3278
Website: www.fab-form.com
SEDAR+: www.sedarplus.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Fab-Form Industries Ltd.
