EX-99.3 4 ea025858501ex99-3_concorde.htm PRESS RELEASE TITLED "CONCORDE INTERNATIONAL GROUP REPORTS 11% YEAR-OVER-YEAR REVENUE GROWTH TO $6.0 MILLION FOR H1 OF 2025" DATED SEPTEMBER 29, 2025

Exhibit 99.3

 

 

Concorde International Group Reports 11% Year-over-Year Revenue Growth to $6.0 million for H1 of 2025

 

Gross profit increased 30% year-over-year to $1.9 million for H1 2025, compared to $1.5 million for the same period last year

 

Gross margin increased 450 basis points to 31.5% for H1 2025, compared to 27.0% for the same period last year

 

Singapore September 29, 2025 Concorde International Group Ltd. (NASDAQ: CIGL) (“Concorde” or the “Company”), an integrated security services provider that combines physical manpower and innovative technology to deliver effective security solutions, today announced financial results and provided a business update for the first half of 2025 (H1 2025) ended June 30, 2025.

 

H1 2025 Financial Highlights

 

Revenue increased by approximately 11%, to approximately $6.0 million for H1 2025, compared to approximately $5.4 million for H1 2024

 

Gross profit increased by approximately 30% to $1.9 million for H1 2025, compared to approximately $1.5 million for H1 2024

 

Gross margin increased 450 basis points to 31.5% for H1 2025, compared to 27.0% for the same period last year

 

Swee Kheng (Alan) Chua, Chairman and Chief Executive Officer of Concorde, commented, “Our first half 2025 results demonstrate the continued strength of our business. Revenue increased approximately 11% year-over-year to $6.0 million, while gross profit grew 30% to $1.9 million. Importantly, gross margin increased by 450 basis points to 31.5%, compared to 27.0% in the prior year period. We anticipate strong year-over-year growth in the second half of the year, driven by our strategy of scaling high-margin recurring revenue through the continued deployment of our i-Guarding services.”

 

“Looking ahead, we plan to expand internationally into Malaysia, Australia, and North America through partnerships with established local providers to address rising labor costs and the growing demand for smart, tech-enabled solutions. Our recent acquisition of Software Risk’s assets further strengthens our technology portfolio with a ready-to-deploy, cloud-based platform that enhances productivity, reduces costs, and streamlines operations for customers. By integrating these capabilities with our core security services, we are confident in our ability to scale recurring revenue, drive operational efficiencies, and deliver long-term value for our business and our shareholders.”

 

Financial Overview

 

Revenue increased approximately 11% to $6.0 million for H1 2025, compared to $5.4 million for H1 2024. Gross profit increased by approximately 30% to $1.9 million for H1 2025, compared to approximately $1.5 million for H1 2024.

 

Operating loss was approximately $2.5 million in H1 2025, compared to operating loss of approximately $83.3 million in H1 2025. Operating loss in H1 2024 was impacted by a one-time, non-cash share-based compensation expense of $83.2 million. As of June 30, 2025, and December 31, 2024, the Company had cash and cash equivalents of approximately $2.4 million and $1.0 million, respectively.

 

About Concorde International Group Ltd

 

Concorde International Group Limited (Nasdaq: CIGL) is a Singapore-based company specializing in integrated security solutions and facilities management services. Established in 1997, the Company is recognized for its bold and disruptive innovation with its integrated monitoring of properties, assets and building service systems under 24/7 surveillance, ensuring complete security and business efficiency. This is done through a suite of smart security solutions called “I-Guarding Solutions”. The first of these solutions is its patented I-Man Facility Sprinter – a revolutionary mobile vehicular platform providing security and facility maintenance services.

 

For more information, please visit: https://www.concordesecurity.com/

 

 

 

 

Forward-Looking Statements

 

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the registration statement and annual report filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

 

For more information, contact:

 

Investor Relations Contact:

Crescendo Communications, LLC

David Waldman/Natalya Rudman

Tel: (212) 671-1020

Email: CIGL@crescendo-ir.com

 

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CONCORDE INTERNATIONAL GROUP LTD.
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS AT JUNE 30, 2025 AND DECEMBER 31, 2024

 

   June 30,   December 31, 
   2025   2024 
   USD   USD 
Assets        
Non-current assets:        
Property and equipment, net   3,986,155    3,720,807 
Right-of-use asset, net   488,547    322,332 
Intangible assets, net   9,155    9,325 
Other financial assets   737,446    393,019 
Deferred offering cost   -    449,110 
Total non-current assets   5,221,303    4,894,593 
           
Current assets:          
Trade and other receivables   6,288,642    3,825,146 
Amount due from related parties   517,714    553,184 
Cash and cash equivalents   2,361,689    1,000,284 
Total current assets   9,168,045    5,378,614 
Total assets   14,389,348    10,273,207 
           
Equity and liabilities          
Equity          
Share capital   222    209 
Additional paid in capital   4,473,096    - 
Merger reserves   2,336,848    2,336,848 
Other reserves   83,261,816    83,085,159 
(Accumulated Deficit)/Retained Earnings   (86,011,997)   (83,313,648)
Equity attributable to equity holders of the parent company   4,059,985    2,108,568 
Non-controlling interests   157,012    151,629 
Total equity   4,216,997    2,260,197 
           
Liabilities          
Non-current liabilities:          
Lease liabilities, net of current portion   229,914    170,724 
Long-term debt   2,910,059    2,906,113 
Deferred tax liabilities   194,157    182,096 
Other financial liabilities   -    173,551 
Total non-current liabilities   3,334,130    3,432,484 
           
Current liabilities:          
Trade and other payables   1,593,071    1,091,188 
Amount due to related parties   203,874    216,940 
Other financial liabilities   1,786,239    - 
Tax payable   68,372    60,282 
Lease liabilities   101,677    89,438 
Current maturities of long-term debt   3,084,988    3,122,678 
Total current liabilities   6,838,221    4,580,526 
Total liabilities   10,172,351    8,013,010 
Total equity and liabilities   14,389,348    10,273,207 

 

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COMPREHENSIVE (LOSS)/INCOME
FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

 

   2025   2024 
Revenue   5,975,909    5,393,844 
Cost of revenue (exclusive of depreciation and amortization expenses shown separately below)   (4,091,166)   (3,939,891)
    1,884,743    1,453,953 
           
Other income   362,285    206,788 
Depreciation and amortization expenses   (133,974)   (153,660)
Employee benefit expenses   (1,549,186)   (760,994)
Other expenses   (3,072,374)   (605,930)
Share-based compensation   -    (83,155,336)
Finance costs   (148,956)   (95,085)
Loss before tax   (2,657,462)   (83,110,264)
Income tax expense   (35,638)   (107,777)
Loss for the year   (2,693,100)   (83,218,041)
           
Other comprehensive loss          
Other comprehensive loss that may be reclassified to profit or loss in subsequent periods (net of tax):          
Foreign currency translation   176,791    (88,215)
Total comprehensive loss for the year, net of tax   (2,516,309)   (83,306,256)
           
(Loss) /Profit for the year attributable to:          
Equity holders of the parent company   (2,698,349)   (83,227,664)
Non-controlling interests   5,249    9,623 
    (2,693,100)   (83,218,041)
           
Total comprehensive (loss)/income for the year attributable to:          
Equity holders of the parent company   (2,521,692)   (83,315,879)
Non-controlling interests   5,383    9,623 
    (2,516,309)   (83,306,256)
           
Loss per share          
Basic   (0.13)   (6.95)
Diluted   (0.13)   (6.95)

 

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CONCORDE INTERNATIONAL GROUP LTD.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

 

   2025   2024 
   USD   USD 
Cash flows from operating activities        
Loss before tax   (2,657,462)   (83,110,264)
           
Adjustments for:          
Depreciation of property and equipment   78,851    73,258 
Depreciation of right-of-use assets   54,362    34,255 
Amortization of intangible assets   762    46,147 
Fixed asset written off   5,166    - 
Interest expense   148,956    95,085 
Interest income   (31,220)   (11,027)
Share-based compensation   -    83,155,336 
Fair value adjustment   1,470,513    - 
Operating cash flows before movements in working capital   (930,072)   282,790 
           
Change in working capital:          
Decrease in trade and other receivables   (2,577,634)   (649,708)
Increase in trade and other payables   553,430    50,032 
Decrease in amount due to related parties   48,206    (2,943)
Cash used in operations   (2,906,070)   (319,829)
Income tax paid   (30,823)   - 
Net cash used in operating activities   (2,936,893)   (319,829)
           
Cash flows from investing activities          
Purchase of property and equipment   (108,013)   (25,397)
Proceeds from disposal of property and equipment   -    (85,956)
Loan repaid from related parties   -    89,217 
Net cash used in investing activities   (108,013)   (22,136)
           
Cash flows from financing activities          
Proceeds from issuance of shares   4,473,109    208 
Payment of deferred offering cost   -    (112,257)
Proceeds from borrowings   (81,454)   2,435,407 
Repayment of borrowings   (132,566)   (331,898)
Repayment of lease liabilities   (198,905)   (36,592)
Net cash provided by financing activities   4,060,184    1,954,868 
           
Net increase in cash and cash equivalents   1,015,278    1,612,903 
Cash and cash equivalents at beginning of year   1,000,284    956,975 
Effect of foreign exchange rate changes on cash and cash equivalents   346,127    (299,440)
Cash and cash equivalents at end of reporting period   2,361,689    2,270,438 
           
Non-cash investing and financing activities          
Fair value measurement of share-based compensation   -    83,155,336 
Fair value adjustment for convertible loan and its derivative   1,470,513    - 
Initial measurement of right-of-use asset and lease liability   201,061    - 

 

 

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