Oiltek International (HQU) Q1 2025 TU earnings summary

Executive summary

• Q1 revenue fell 5.1% YoY, while gross profit rose 52.4% and profit after tax increased 22.1%.

• Signed contracts, confirmed variation orders and letters of award totaled RM373.4m, with fulfillment expected over 18–24 months, barring unforeseen circumstances.

Financial highlights

• Revenue was RM46.738m versus RM49.260m in Q1 2024, down 5.1% YoY; gross profit rose to RM11.909m from RM7.813m, up 52.4%.

• Profit before income tax increased 17.5% YoY to RM7.104m; profit after income tax rose 22.1% to RM5.370m.

Outlook and guidance

• Order book of RM373.4m is expected to be fulfilled over the next 18–24 months, barring unforeseen circumstances.

• Overall outlook remains positive, with business performance expected to follow growth in served industries, barring unforeseen circumstances.