Press Metal Aluminium Holdings (PMETAL) Q1 2025 earnings summary

Executive summary

• Revenue rose 7.8% year-over-year to RM3.90 billion in Q1 2025, driven by higher metal prices.

• Profit before tax increased 16.3% year-over-year to RM629.38 million, with improved contributions from associates.

• Net profit attributable to shareholders grew 13.2% year-over-year to RM461.77 million.

• Total comprehensive income surged 237.7% year-over-year to RM566.14 million, aided by positive cash flow hedge movements.

• Phase 3 Smelter in Sarawak resumed full operations by end of January 2025 after a fire incident.

Financial highlights

• Operating profit was RM497.91 million, nearly flat year-over-year.

• Basic earnings per share rose to 5.60 sen from 4.95 sen, up 13.2% year-over-year.

• Net assets per share increased to RM1.07 from RM1.03 at year-end 2024.

• Cash and cash equivalents at quarter-end stood at RM2.87 billion, up from RM1.53 billion a year ago.

• Net cash from operating activities was RM668.48 million for the quarter.

Outlook and guidance

• Uncertainty remains over U.S. tariff policies, but opportunities exist for low-carbon aluminium and regional manufacturing.

• Global aluminium market expected to remain balanced despite modest demand growth.

• Board expects satisfactory performance for FY 2025 barring unforeseen circumstances.