KUALA LUMPUR (Feb 25): Eversendai Corp Bhd (KL:SENDAI) posted its best-ever quarterly net profit and revenue in its three months ended Dec 31, 2025 (4QFY2025), lifted by its Middle East projects while operating and finance costs fell.
Net profit stood at RM59.52 million or 7.62 sen per share in the quarter, up 64% quarter-on-quarter and over six-fold year-on-year. Also supporting earnings were forex gains, said the structural steel specialist, who operates mainly in the Middle East, India, and Southeast Asia.
Revenue for the quarter rose 9.4% q-o-q and 82% y-o-y to RM615.55 million. No dividend was announced for the year.
The latest results lifted Eversendai’s full-year net profit to RM110.41 million, its third best since listing, while revenue rose to a record RM2.14 billion, up 71.54% from a year ago.
Eversendai’s earnings have been supported by key projects, including the Trojena Ski Village in Saudi Arabia, with a total outstanding order book at RM4.6 billion, its filing read.
The project has been in the spotlight after an initial plan to hold the 2029 Asian Winter Games was called off. Adding to concerns were reports of an ongoing review of the flagship NEOM development by the Saudi government, which Trojena is part of.
Responding to questions from The Edge on whether there will be any change to the contract size amid recent news, Eversendai executive chairman and group managing director Tan Sri A K Nathan said, “Eversendai’s scope in Trojena Ski Village project is progressing well”.
“With variation claims, the overall project should retain the same contract value,” he said in a brief reply.
Other key ongoing projects include the Qiddiya Speed Park project in Saudi Arabia and the DLF Downtown Taramani project involving two towers in India, which are also on track, Eversendai’s filing read, although its India operations remained in the red with lower losses y-o-y.
In the financial year, Eversendai saw operating expenses reduced by 42% to RM132.79 million, while finance costs fell to RM38.35 million from RM44.67 million in FY2024. Net gearing fell to 0.48 times, from 1.32 times a year ago.
“The group is continuously improving with reorganisation of its resources with a strong focus on optimisation of costs and improving operational efficiency. With the existing tonnage to fabricate, the group's fabrication facilities are expected to operate at optimal capacity,” it said.
Shares of Eversendai rose 1.5 sen or 2.86% to 54 sen ahead of the results announcement on Wednesday, giving it a market capitalisation of RM417.98 million. The stock is up 31.7% since the start of the year.