IOI Corporation (IOICORP) Q1 2026 earnings summary

Executive summary

• Revenue increased 14% year-over-year to RM3,051.8 million in Q1 FY26, with operating profit also up 14% to RM416.3 million.

• Profit before tax declined 40% year-over-year to RM487.0 million, mainly due to a significant swing in net FX translation gains/losses and the absence of large non-underlying gains from the prior year.

• Net profit for the period dropped 48% year-over-year to RM375.0 million, with EPS down to 5.95 sen.

• Underlying profit before tax (excluding non-recurring items) increased 42% year-over-year to RM508.8 million, driven by higher plantation and resource-based manufacturing contributions.

• Net assets per share remained at RM1.98 as of September 2025.

Financial highlights

• Revenue: RM3,051.8 million (+14% YoY); Operating profit: RM416.3 million (+14% YoY).

• Profit before tax: RM487.0 million (-40% YoY); Underlying PBT: RM508.8 million (+42% YoY).

• Net profit: RM375.0 million (-48% YoY); Basic EPS: 5.95 sen (-48% YoY).

• Net finance costs decreased 10% year-over-year to RM26.5 million.

• Net cash from operating activities: RM382.5 million (Q1 FY2026), up from RM222.0 million (Q1 FY2025).

Outlook and guidance

• CPO prices are expected to remain above RM4,000/MT over the next 3-4 months, supported by La Niña risks, seasonal low production, and festive demand.

• Plantation segment is projected to deliver strong financial performance in FY2026, driven by higher FFB production and improved estate management.

• Refinery and commodity marketing sub-segment faces margin pressure due to Indonesian competition; operational efficiency and product quality are key.

• Oleochemical sub-segment expects satisfactory performance despite ongoing global trade and geopolitical challenges.

• Group anticipates resilient and satisfactory operating and financial performance for the rest of FY2026.