Riverstone (AP4) Q3 2025 earnings summary

Executive summary

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

• Operates through a diversified group structure with manufacturing and sales presence in Malaysia, China, Thailand, Singapore, and the Philippines.

• Net profit for 3QFY25 rose 14.7% quarter-on-quarter to RM52 million, driven by robust cleanroom demand from data centre and AI-related industries, and higher shipments of customised healthcare gloves.

• Revenue for 3Q2025 was RM247.5 million, down 17.1% year-over-year, with gross profit margin declining to 30.9% from 34.7% due to higher cost of sales.

• For the nine months ended 30 September 2025, revenue was RM744.6 million, a decrease from RM794.8 million in the prior year period.

Financial highlights

• 9M FY2025 revenue was RM744.6 million, down 6.3% year-over-year; Q3 FY2025 revenue rose 1.1% sequentially to RM247.5 million.

• 9M FY2025 net profit was RM153.8 million, down 29.1% year-over-year; Q3 net profit up 14.7% sequentially to RM52 million.

• Gross profit for 3QFY25 grew 16.5% quarter-on-quarter to RM76.6 million, with gross margin rebounding to 30.9%.

• Cash and cash equivalents stood at RM660.9 million as of 30 September 2025, down from RM715.1 million at year-end 2024.

• Dividends paid in 9M2025 totaled RM222.3 million, with a third interim dividend of 2.5 sen per share declared.

Outlook and guidance

• Focus on R&D, flexible production, and ESG initiatives to drive future growth.

• Rising AI infrastructure investments, especially in data storage, are expected to sustain cleanroom demand.

• The business faces ongoing challenges from price competition, currency fluctuations, volatile raw material prices, and increased production costs.

• US tariffs remain in effect and are being monitored for impact.

• Committed to sustainable practices, including water and electricity savings, waste reduction, and renewable energy adoption.