Riverstone (AP4) H2 2024 earnings summary

Executive summary

• Specializes in high-tech cleanroom gloves, premium healthcare gloves, and cleanroom consumables, serving electronics, semiconductor, and healthcare sectors.

• Diversified revenue streams from cleanroom and healthcare businesses, with flexible production and strong R&D capabilities.

• Maintains a resilient balance sheet, consistent dividend payout, and a focus on ESG initiatives.

Financial highlights

• FY2024 revenue rose 17.3% year-over-year to RM1,072.8 million; Q4 revenue declined 6.8% sequentially.

• Gross profit increased 32.0% year-over-year to RM390.1 million; Q4 gross profit fell 13.3% sequentially.

• Net profit grew 30.2% year-over-year to RM286.9 million; Q4 net profit decreased 3.0% sequentially.

• Operating cash flow remained positive, with RM378.6 million in FY2024.

• Sustained dividend payout, with payout ratios consistently above 40% since IPO.

Outlook and guidance

• Ongoing R&D and flexible production to address market changes and customer needs.

• Focus on ESG improvements, including water and electricity savings, waste reduction, and renewable energy adoption.

• Plans to further optimize processes and expand sustainable practices.