VCI Global (VCIG) H2 2024 earnings summary

Executive summary

• Achieved record revenue of $27.8 million for FY2024, a 41% year-over-year increase, with net income rising to $7.6 million, up $0.4 million from the prior year.

• Growth was driven by strong performance in technology, fintech, capital market consultancy, and advisory segments.

• Gross profit rose 39% year-over-year to $22.9 million, reflecting disciplined cost management and expansion across multiple verticals.

• Strategic initiatives included the carve-out IPO of V Capital Consulting Group and regional expansion into Singapore and Hong Kong.

• Accelerated development of a cross-sector platform integrating AI, cybersecurity, fintech, renewables, and capital market offerings.

Financial highlights

• Revenue rose 41% to $27.8 million compared to the previous year.

• Net income increased to $7.6 million, up from $7.2 million year-over-year.

• EBITDA grew to $8.3 million (30% margin), up from $7.3 million in FY2023.

• Gross profit reached $22.9 million, up 39% year-over-year.

• Basic and diluted EPS was $54.74, down from $200.28 in FY2023 due to share issuance.

Outlook and guidance

• 2025 focus on accelerating cross-sector platform strategy, integrating AI, CSaaS, fintech, renewables, and advisory.

• VCCG carve-out IPO expected in Q3 2025, with plans to replicate the model in other high-growth segments.

• Continued scaling of AI and cybersecurity capabilities through V Galant Sdn Bhd.

• Enhancement of fintech infrastructure and rollout of solar energy initiatives to support the digital economy.