The firm's operating margin has collapsed to -797.16% as revenue growth contracted by 1.55% due to intense market competition.
| Metric | Dec'24 | Dec'23 | Dec'22 |
|---|
| Sales/Revenue | 10.49M | 10.66M | 5.01M |
| Revenue Growth % | -1.55% | 112.85% | - |
| Cost of Goods Sold | 6.88M | 7.66M | 3.65M |
| COGS % of Revenue | 65.54% | 71.9% | 72.88% |
| Gross Profit | 3.62M | 2.99M | 1.36M |
| Gross Margin % | 34.46% | 28.1% | 27.12% |
| Gross Profit Growth % | 20.76% | 120.52% | - |
| Operating Expenses | 87.24M | 1.91M | 2.16M |
| OpEx % of Revenue | 831.62% | 17.9% | 43.13% |
| Selling, General & Admin | 86.33M | 1.57M | 1.28M |
| SG&A % of Revenue | 822.89% | 14.71% | 25.55% |
| Research & Development | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 916.18K | 340.5K | 880.03K |
| Operating Income | -83.63M | 1.09M | -801.31K |
| Operating Margin % | -797.16% | 10.19% | -16.01% |
| Operating Income Growth % | -7800.16% | 235.53% | - |
| EBITDA | -83.35M | 1.42M | -411.86K |
| EBITDA Margin % | -794.49% | 13.29% | -8.23% |
| EBITDA Growth % | -5986.62% | 443.77% | - |
| D&A (Non-Cash Add-back) | 279.54K | 329.84K | 389.45K |
| EBIT | -83.29M | 1.28M | -728.95K |
| Net Interest Income | -179.71K | -119.07K | -26.63K |
| Interest Income | 38.92K | 30.56K | 48.41K |
| Interest Expense | 218.63K | 149.63K | 75.03K |
| Other Income/Expense | 118.83K | 39.39K | -2.67K |
| Pretax Income | -83.51M | 1.13M | -803.98K |
| Pretax Margin % | -796.02% | 10.56% | -16.06% |
| Income Tax | 114.9K | 131.24K | 0 |
| Effective Tax Rate % | -0.14% | 11.66% | 0% |
| Net Income | -83.64M | 960.69K | -783.04K |
| Net Margin % | -797.26% | 9.02% | -15.64% |
| Net Income Growth % | -8806.01% | 222.69% | - |
| Net Income (Continuing) | -83.62M | 994.19K | -803.98K |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 151.63K | 137.34K | 103.83K |
| EPS (Diluted) | -3.78 | 0.04 | -0.04 |
| EPS Growth % | -8809.68% | 222.6% | - |
| EPS (Basic) | -3.78 | 0.04 | -0.04 |
| Diluted Shares Outstanding | 22.14M | 22.14M | 22.14M |
| Basic Shares Outstanding | 22.14M | 22.14M | 22.14M |
| Dividend Payout Ratio | - | - | - |
Insolvency and liquidity crisis
According to the latest financial disclosures, CIGL's revenue growth has contracted by 1.55%, signaling that the firm's transition toward intelligent security solutions is failing to offset the underlying churn within its legacy man-guarding business segments in the highly competitive and mature Singapore security services market.
The negative growth trajectory suggests that the company's value proposition is struggling to gain traction against established local incumbents. Investors should monitor whether this decline reflects a loss of key government contracts or a broader inability to scale the I-Man platform beyond a limited client base.
As reported in financial statements, CIGL maintains a 34.46% gross margin, yet the operating margin has collapsed to -797.16%, indicating that the company's high fixed-cost base and specialized vehicular fleet are currently failing to generate sufficient scale to cover basic operational overhead and depreciation expenses.
This extreme divergence between gross and operating profitability implies that the business model may be fundamentally misaligned with its current revenue volume. The persistent inability to achieve operating leverage suggests that the company is carrying significant underutilized capacity that continues to erode shareholder value.
Based on CIGL's reported figures, the company faces an unsustainable cost structure where operating expenses vastly exceed gross profit, likely driven by the heavy depreciation of the I-Man fleet and the rising labor costs mandated by Singapore's Progressive Wage Model for the security sector.
Management's commitment to tech-enabled security appears to have created a rigid cost structure that lacks the flexibility to adjust during periods of stagnant top-line performance. Without a significant increase in service utilization, the current expense discipline appears insufficient to prevent further deterioration of the company's bottom line.
Data from recent filings indicates that CIGL's cash reserves of approximately $1,000,284 are critically low relative to its massive operating losses, suggesting that the company may face an imminent liquidity crisis or be forced into highly dilutive financing to maintain its current, loss-making operational footprint.
Short-sellers would likely focus on the company's inability to reach a break-even point despite years of investment in the I-Man platform. The combination of negative revenue growth and a precarious cash position suggests that the firm's long-term viability is increasingly dependent on external capital injections rather than internal cash generation.
Quick answers to the most common questions about buying CIGL stock.
For fiscal year 2024, Concorde International Group Ltd Class A Ordinary Shares (CIGL) reported total revenue of $10.5M. This represents a 109.5% increase compared to $5.0M in 2022.
Concorde International Group Ltd Class A Ordinary Shares (CIGL) reported a net loss of $83.6M for the fiscal year ending 2024.
Concorde International Group Ltd Class A Ordinary Shares (CIGL) reported an operating income of $-83.6M, resulting in an operating profit margin of -797.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Concorde International Group Ltd Class A Ordinary Shares (CIGL) generated $3.6M in gross profit for the year, representing a gross profit margin of 34.5%. This demonstrates the company's core pricing power and production efficiency.