SD Guthrie Berhad (SDG) Q4 2025 earnings summary

Executive summary

• Achieved record net profit of RM2.5 billion for FY2025, up 16% year-over-year, driven by strong Upstream and Industrial Development segments despite weaker Downstream and lower non-recurring gains.

• Q4 2025 net profit declined 36% year-over-year to RM496 million, mainly due to lower Upstream profitability and reduced non-recurring gains, partially offset by improved Downstream results.

• Operational resilience and integration helped mitigate softer market conditions, with improvements in Malaysia and PNG/SI balancing weather-related challenges in Indonesia.

Financial highlights

• FY2025 revenue rose 5% year-over-year to RM20,895 million; net profit (PATAMI) up 16% to RM2,503 million.

• Full-year recurring PBIT increased 33% to RM3,533 million, while non-recurring PBIT fell 90%.

• FY2025 operating profit increased 10% to RM3,593 million; profit before tax up 12% to RM3,530 million.

• Basic EPS for FY2025 was 36.2 sen, up from 31.3 sen in FY2024.

• Final dividend of 10.35 sen per share, total FY2025 dividend 18.10 sen per share (payout ratio 50%).

Outlook and guidance

• CPO prices expected to remain volatile or range-bound amid policy uncertainty, steady demand, and slower supply growth.

• Upstream segment to focus on operational excellence and yield improvements; Downstream to leverage integrated supply chain.

• Strategic collaborations in Industrial Development and Renewable Energy to support sustainable earnings.

• Satisfactory performance anticipated for FY2026 barring unforeseen circumstances.

• Indian palm oil demand anticipated to recover due to price discounts, but gains may be capped by competing soy oil inflows.