Westports Holdings (WPRTS) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 rose 14% year-over-year to RM621.3 million, driven by higher container revenue.

• Profit before tax increased 10% to RM292.5 million, with profit after tax up 9% to RM222.5 million compared to Q1 2024.

• Operational revenue grew 9% year-over-year, while operational cost of sales declined 3%, boosting gross profit by 18%.

• Sequentially, operational revenue and profit before tax declined 4% from Q4 2024, with profit after tax down 13% due to lower tax allowances.

Financial highlights

• Gross profit for Q1 2025 was RM380.9 million, up 18% year-over-year.

• Basic earnings per share increased 9% to 6.52 sen.

• Dividends of RM370.3 million were paid during the quarter.

• Cash and cash equivalents at quarter-end stood at RM573.3 million, down from RM729.1 million at the start of the year.

Outlook and guidance

• Management expects 2025 throughput to match the previous year's volume due to global trade uncertainties and inflationary pressures.

• Regional trade realignment and Asia's economic dynamism may partially offset lower containerised trade.