Guan Chong Berhad (GCB) Q4 2024 earnings summary

Executive summary

• FY24 revenue RM10,440.5m, profit before tax RM512.5m and net profit RM429.2m, all above FY23; Q4 revenue and earnings also rose sharply YoY.

• Higher cocoa product selling prices drove Q4 revenue growth and higher profit before tax; outlook emphasizes passing through cocoa costs, protecting margins and expanding industrial chocolate.

Financial highlights

• Q4 revenue RM3,371.0m vs RM1,772.3m YoY, up 90.2%; operating profit RM339.3m vs RM84.0m.

• Q4 PBT RM250.7m vs RM31.9m; net profit RM213.0m vs RM15.2m; basic EPS 18.13 sen vs 1.29 sen.

• FY24 revenue RM10,440.5m vs RM5,320.8m; PBT RM512.5m vs RM139.1m; net profit RM429.2m vs RM100.9m.

• FY24 other comprehensive loss net of tax RM45.4m, leaving total comprehensive income RM383.8m vs RM137.7m in FY23.

Outlook and guidance

• Cocoa prices remain elevated amid supply constraints linked to adverse weather; chocolate demand is expected to remain resilient.

• Costlier cocoa beans are being passed on to customers; priorities include protecting product margins, securing bean supply and managing working capital.

• Focus remains on cocoa ingredient processing, expansion in higher-margin industrial chocolate and production optimization to market conditions.