Riverstone (AP4) H2 2022 earnings summary

Executive summary

• FY2022 revenue was RM1,259.5 million and net profit RM314.4 million, down 59.1% and 77.8% YoY, respectively; revenue remained 27.4% above FY2019.

• Cleanroom focus and production-model adjustments supported resilience amid normalising demand and selling prices, with continued emphasis on R&D and cleanroom-sector growth.

Financial highlights

• FY2022 gross profit was RM450.3 million, down 76.4% YoY; profit before tax was RM417.0 million, down 77.6%.

• 4Q2022 revenue was RM235.2 million, down 42.7% YoY; net profit was RM42.0 million, down 62.1%.

• FY2022 diluted EPS was RM21.21 sen, versus RM95.66 sen in FY2021.

Outlook and guidance

• R&D investment to better meet customer requirements and cleanroom-sector advancement were identified as priorities for future growth.

• Strong cash reserves support planned R&D and expansion.