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Top Glove (TOPGLOV) investor relations material
Top Glove Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved a strong turnaround in FY2025, returning to profitability with a 39% YoY revenue increase to RM3.5 billion and a 55% surge in sales volume, especially in the U.S. market where sales volume rose 150% YoY.
Profit before tax surged to RM154 million from a loss in FY2024, with 4QFY25 profit before tax at RM48 million, up 700% YoY.
Operational improvements, higher plant utilization (75% in August 2025, 71% in 4QFY25), and cost initiatives drove efficiency and margin gains.
Recognized for sustainability, ranking among the top 5 Malaysian PLCs and top 4% globally in S&P Global Corporate Sustainability Assessment.
Board recommended a final dividend of 0.48 sen per share, totaling RM39 million for FY2025.
Financial highlights
FY2025 revenue reached RM3,489 million (+39% YoY), EBITDA RM454 million (+79% YoY), and PATAMI RM128 million, reversing a loss in FY2024.
4QFY25 revenue grew 7% YoY to RM890 million, with core EBITDA up 29% QoQ and core PATAMI up 142% QoQ.
Basic and diluted EPS for FY2025 were 1.36 sen, compared to a loss per share of 0.81 sen in FY2024.
Net assets per share increased to RM0.59 as at 31 August 2025.
Non-core items in 4QFY25 included a RM19 million gain on land disposal, RM17 million late payment interest income, RM12 million impairment, and RM9 million fair value loss on bonds.
Outlook and guidance
Glove demand expected to remain strong, with further U.S. and European sales growth anticipated in FY2026.
Utilization rates projected to improve (75% in September 2025), supporting cost optimization and competitiveness.
Strategic focus on increasing U.S. market share by FY2026 to mitigate competition in non-U.S. markets.
Introduction of next-generation glove products targeting healthcare, cleanroom, and industrial sectors.
Raw material and natural gas prices expected to stay stable; quarterly ASP fluctuations anticipated due to market competition.
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