Q2 2025 Mega First Corporation Bhd Earnings Call Transcript
Key Points
- Mega First Corp Bhd (XKLS:3069) reported a slight increase in normalized revenue by 1.2%, primarily due to the acquisition of the full security subsidiary, CSC.
- The renewable energy division saw a 5.4% increase in hydro energy sales in US dollars, with energy volume up by 11%.
- Solar revenue improved by 11% to MYR3 million, with PBT up 2.4% to MYR113 million due to gains in lower net royalties and interest expenses.
- The company expects a strong rebound in earnings for the second half of 2025, particularly with the gas supply restored at Edenor.
- Mega First Corp Bhd (XKLS:3069) is actively pursuing opportunities in battery energy storage systems and has submitted a bid for a related tender, indicating a strategic focus on expanding its renewable energy portfolio.
- Normalized PBT decreased by 14.6% to MYR108 million, mainly due to weaker earnings from resources and packaging divisions, and a MYR8.2 million ForEx loss.
- Reported PBT fell by 22.8% to MYR91 million, exacerbated by higher losses from Edenor and the absence of insurance income recorded last year.
- The resources division experienced a 15% decline in revenue to MYR48 million due to weaker export of lime products amid rising competition.
- Packaging division's PBT was down sharply, affected by price competition and a weaker US dollar impacting export sales.
- The company faces intense competition in the packaging and resources sectors, particularly from regional players like China, which could impact future profitability.
A very good afternoon, and welcome to Mega first quarter 2 2025 results briefing. My name is John Huo from VUCA Insights. On the panelists today, together with me is Rondy Yunanda.
Hi, hello.
And our chief guests, Mr. Yeow See, Independent Director for Mega First.
Non-independent.
Non-independent. Yes. Always Apologies here. So as usual, let's do some housekeeping first. For those of you who have joined, if you can hear us loud and clear, can you give us a one in the chat box, please. One in the chat box, right. Thank you. As usual, for those of you regular here, you know how the session is being run, but I would like to give a briefing for those who are here for the first time.
Welcome, thank you for joining us, and thank
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