Cortina Holdings Limited

Cortina Holdings Limited

SSGX:C41
3.95
SGD
0.00
(0.00%)
0.23EPS
5.98P/E
215.25MMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
2.51
2.44
2.22
2.36
2.82
2.78
3.1
2.64
4.33
4.99
4.9
5.21
5.91
3.04
Basic EPS, GAAP
0.11
0.09
0.05
0.07
0.13
0.17
0.24
0.24
0.42
0.46
0.37
0.38
0.39
0.22
Free Cash Flow per Basic Share
0.09
0.08
0.04
0.17
0.3
0.48
0.51
0.55
0.86
0.5
0.08
0.29
0.58
0.51
Dividend per Share
0.03
0.03
0.03
0.02
0.03
0.04
0.06
0.07
0.07
0.12
0.16
0.16
0.16
0.06
Book Value per Share
0.85
0.92
0.93
0.96
1.08
1.2
1.4
1.56
1.9
2.2
2.37
2.63
2.88
1.27
Tangible Book Value per Share
0.85
0.92
0.93
0.96
1.08
1.2
1.4
1.55
1.89
2.19
2.37
2.63
2.88
1.27
Basic Weighted Avg Shares
166
166
166
166
166
166
166
166
166
166
166
166
166
166
Sales/Revenue/Turnover
415
405
367
391
466
461
514
437
717
827
811
863
979
503
Operating Margin (%)
9.51
5.22
4.17
8.52
10
12.02
14.07
16.51
18.64
14.99
13.37
12.31
12.17
13.58
Depreciation Expense
4
4
5
5
6
5
29
28
40
42
51
57
59
17
Net Income, GAAP
18
15
8
12
22
29
39
40
69
77
61
64
64
36
Effective Tax Rate (%)
16.61
18.89
24.58
21.72
19.52
21.49
21.55
21.14
20.31
21.56
26.25
22.41
26.42
21.55
Profit Margin (%)
4.43
3.76
2.28
3.02
4.79
6.29
7.65
9.1
9.59
9.26
7.53
7.37
6.58
7.16
Working Capital
139
149
142
151
165
182
201
214
293
251
247
333
373
176
LT Debt
11
10
3
9
4
- -
27
69
96
81
80
107
109
34
Total Equity
148
161
161
166
186
207
242
270
329
382
406
455
498
219
Return on Invested Capital (%)
14.84
13.55
4.51
5.73
15.76
18.3
21.01
15.62
23.15
19.27
14.75
13.8
12.47
22.67
Return on Capital (%)
9.34
7.2
4.1
5.4
9.91
12.18
14.78
10.84
15.12
14.85
11
10.47
9.26
15.25
Return on Common Equity (%)
13.7
10.38
5.48
7.53
13.23
15.34
18.23
16.2
23.99
22.57
16.15
15.37
14.13
18.33

Capital Structure

SGD

•

in mil. unless spec.
Mar'19
Jun'20
Sep'20
ST Debt
23
18
19
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
38
34
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
166
166
166
Market Capitalization
228
245
215

Working Capital

SGD

•

in mil. unless spec.
Mar'19
Jun'20
Sep'20
Total Current Assets
256
264
256
Cash, Cash Equivalents & STI
81
85
80
Accounts Receivable, Net
5
20
20
Inventories
163
157
154
Total Current Liabilities
74
90
80
Payables & Accruals
- -
- -
- -
ST Debt
23
18
19
Deferred Revenue
- -
- -
- -

Growth Rates

SGD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.05%
13.18%
9.45%
Free Cash Flow
77.86%
58.12%
100.07%
Net Income, GAAP
26.61%
13.92%
1.29%
Sales/Revenue/Turnover
11.85%
19.49%
13.47%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
811
2025
- -
- -
863
2026
- -
- -
979

Semi-annual Earnings Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.37
2025
- -
- -
0.38
2026
- -
- -
0.39

Semi-annual Dividends Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.16
2025
- -
- -
0.16
2026
- -
- -
0.16

Company Description

CEO
Jit Ming Lim
Full Time Employees
768
Sector
Retail trade
Industry
Specialty stores
Address
Singapore Singapore
IPO Date
Jul 29, 2002
Business
Cortina Holdings Limited is a Singapore-based investment holding company primarily engaged in the distribution and retailing of luxury timepieces, fine jewelry, and horological accessories across the Asia-Pacific region. Founded in 1972 and headquartered in Singapore, the company operates across two principal business segments: Wholesale and Retail. Cortina Holdings Limited distributes and retails an extensive portfolio of luxury and haute horlogerie timepieces, offering mechanical watches with complications including perpetual calendars, tourbillons, minute repeaters, flyback chronographs, and moonphase indicators; automatic, manual-winding, and quartz wristwatches; professional diving, sports, and aviation watches; fine jewelry, gem-set timepieces, and decorative table clocks; and horological accessories including watch winders, collector storage cases, and bespoke straps. The company also provides comprehensive, manufacturer-certified after-sales technical services, comprising mechanical movement maintenance and complete overhauls; timing calibration and regulation; water-resistance pressure testing and gasket replacement; ultrasonic cleaning; ultrasonic laser welding, case, and bracelet refinishing; and genuine component replacements. The company operates through an extensive network of multi-brand retail stores and mono-brand boutiques under retail banners including Cortina Watch, Sincere Fine Watches, Sincere Haute Horlogerie (SHH), and Pendulum, maintaining commercial operations in Singapore, Malaysia, Thailand, Indonesia, Hong Kong, Taiwan, and Australia. Its brand portfolio encompasses prestigious global luxury and independent watch manufacturers, including Rolex, Patek Philippe, Tudor, Cartier, Chopard, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Omega, TAG Heuer, Breitling, Franck Muller, Blancpain, Breguet, Zenith, Corum, H. Moser & Cie., Greubel Forsey, Ferdinand Berthoud, and Czapek & Cie. In recent operational developments, Cortina Holdings Limited has expanded its ultra-luxury retail footprint through the regional rollout and development of its specialized Sincere Haute Horlogerie (SHH) concept boutiques across prime retail destinations in Singapore, Malaysia, Thailand, and Taiwan, targeting high-net-worth collectors of independent haute horlogerie. The company has broadened its brand portfolio by securing exclusive regional distribution and retail partnerships with independent master watchmakers, including Greubel Forsey, Ferdinand Berthoud, Christiaan van der Klaauw, and Czapek & Cie. Furthermore, Cortina Holdings Limited has optimized its retail network through the strategic renovation, expansion, and relocation of prominent mono-brand flagship boutiques for key brand partners including Rolex, Patek Philippe, and Tudor across premier Asian commercial corridors. The company has also modernized and expanded its regional after-sales service centers with advanced diagnostic and horological tooling to maintain manufacturer-accredited servicing standards, while integrating omnichannel clienteling and digital customer relationship management systems to enhance personalized VIP retail services.