Gamuda’s earnings continue to improve 

PETALING JAYA: Gamuda Bhd continues to anticipate that its performance towards the end of the financial year ending July 2025 will be largely driven by overseas and domestic construction activities.

These include the construction of several data centres and higher contributions from its property division’s various quick turnaround projects (QTPs).

Moving forward, Gamuda said its resilience is underpinned by its construction order book of RM35bil and unbilled property sales of RM7.7bil, on top of a healthy balance sheet with a comfortable net gearing of 45%, well below its self-imposed gearing limit of 70%.

Releasing results yesterday for its third quarter financial year ended April 30, 2025 (3Q25), the group saw net profit grow by 4.7% year-on-year (y-o-y) to RM246.8mil, as revenue jumped 24.1% to RM3.09bil, attributed to domestic construction projects.

In a filing with Bursa Malaysia, Gamuda said domestic construction earnings tripled to RM104mil from the RM39mil of last year’s corresponding quarter.

“Quarterly construction revenue and net profit rose 4% and 40% respectively, driven by stronger domestic earnings as domestic jobs grew to contribute 41% of overall RM35bil-construction order book compared with 28% last year,” it said.

Earnings per share is therefore at 4.3 sen for 3Q25. Domestic construction projects also drove cumulative earnings for the nine months of financial year ended April 30 (9M25), as net profit edged up 4.9% y-o-y to RM671.1mil, while turnover surged 29% to RM11.1bil.

Year-to-date earnings per share was registered at 11.81 sen.

Additionally, Gamuda said property sales for 9M25 rose 10% to RM2.6bil compared with RM2.3bil sold last year, spearheaded by several QTPs in Vietnam.

On a quarterly basis, net profit improved by 12.8% from RM218.8mil for the three months ended January, despite a 20.8% contraction in revenue.

The group credited the better earnings to stronger domestic construction earnings and overseas property earnings.

Gamuda proposed a second interim dividend for the 3Q25 of five sen per share, bringing total dividends declared during the financial year to 10 sen per share.

In March, Gamuda’s 50%-owned joint venture with a Taiwanese company was awarded a contract by Taiwan Power Company, a state-owned electric power industry enterprise for the construction of a 345kV underground transmission line and auxiliary electrical and mechanical system.

The contract value is approximately RM520mil, with an estimated construction duration of about three and a half years.

Gamuda DC Infrastructure Sdn Bhd, a wholly-owned subsidiary of Gamuda Engineering Sdn Bhd, was also awarded an enabling works contract worth RM1.01bil for the data centre development in Port Dickson, which encompasses earthwork and external infrastructure works.