Wasco Bhd's FY2025 Net Profit Rises To RM160.5 Mln

KUALA LUMPUR, Feb 25 (Bernama) -- Wasco Bhd's net profit rose to RM160.54 million for the financial year ended Dec 31, 2025 (FY2025), from RM153.04 million in the preceding year.

In a filing with Bursa Malaysia today, the provider of energy solutions said its revenue, however, fell to RM2.60 billion from RM3.18 billion previously mainly due to the timing of execution of awarded projects.  

For the fourth quarter (4Q) ended Dec 31, 2025, its net profit firmed to RM56.50 million from RM35.27 million a year earlier, while revenue decreased to RM592.39 million from RM984.40 million.

In a separate statement, the company said the stronger 4Q bottom-line performance reflects improved operating leverage as projects progressed into higher-margin execution phases, supported by disciplined cost management across the group.

Managing director and group chief executive officer Giancarlo Maccagno said the company delivered RM470 million in cumulative profit after tax over three consecutive years in a project-driven industry, reflecting sustained profitability and the discipline embedded across its operations.

“With a net cash position (of RM49.2 million as at Dec 31, 2025) and continued dividend payments, including a special dividend this year, we are demonstrating confidence in the sustainability of our earnings. At the same time, our FTSE4Good Bursa Malaysia Index score improved to 4.4 from 4.1 previously, including a maximum 5.0 score in the social theme. 

“This reflects strengthened governance oversight and our continued emphasis on labour standards, health and safety, and responsible business practices. It demonstrates that organisations can deliver sustainable returns to shareholders while operating responsibly,” he said.

The board has proposed a final dividend of three sen per share and a special dividend of a sen per share for FY2025, bringing the total dividend to four sen per share.

“The declaration reflects the group’s strengthened balance sheet, sustained profitability over three consecutive financial years, and disciplined capital allocation framework,” Wasco said.

Looking ahead, the group said it would continue to execute a diversified portfolio of projects across Southeast Asia, the Middle East, Africa, Europe, and Australia, spanning offshore oil and gas infrastructure, modular fabrication, substations, pipeline services, power generation, and energy storage systems.

It said its order book has increased to RM2.8 billion, and the tender book of RM12.0 billion provides earnings visibility into FY2026 and beyond.

-- BERNAMA