Sunway (SUNWAY) Q1 2025 earnings summary

Executive summary

• Q1 FY2025 revenue rose 66.8% year-over-year to RM2,367 million, driven by higher contributions from most segments except property development.

• Profit before tax increased 34.2% year-over-year to RM304.1 million, with strong performance in construction and property investment.

• Net profit attributable to shareholders (PATMI) grew 11% year-over-year to RM191 million.

• Sequentially, revenue declined 17.1% and profit before tax dropped 38.4% from the previous quarter, mainly due to lower property development and seasonal effects.

• Management remains confident in sustaining growth momentum for the remainder of the year.

Financial highlights

• Revenue: RM2,367 million (Q1 FY2024: RM1,419 million), up 66.8% year-over-year.

• Profit before tax: RM304.1 million (Q1 FY2024: RM226.7 million), up 34.2% year-over-year.

• PATMI: RM191 million (Q1 FY2024: RM172 million), up 11% year-over-year.

• Basic EPS: 2.67 sen (Q1 FY2024: 2.27 sen), up 18% year-over-year.

• Net assets per share: RM2.28 (31 Dec 2024: RM2.25).

Outlook and guidance

• Performance for the year is expected to remain strong, supported by robust order book and healthcare expansion.

• Construction segment targets RM4.5–6.0 billion in new orders for FY2025, with RM2.2 billion secured to date.

• Healthcare segment expanding with new hospitals and IPO preparation underway.

• Cautious navigation of global trade tensions and policy uncertainties.

• Board expects strong performance for the year barring unforeseen circumstances.