Press Metal Aluminium Holdings (PMETAL) Q4 2024 earnings summary

Executive summary

• Revenue for FY2024 rose 8.0% year-over-year to RM14.91 billion, driven by higher metal prices and increased contributions from associates.

• Profit before tax surged 39.8% to RM2.30 billion, with net profit up 39.7% to RM2.12 billion compared to FY2023.

• Q4 2024 profit before tax increased 24.0% year-over-year, mainly due to higher associate contributions.

Financial highlights

• Operating profit for FY2024 was RM1.90 billion, up 14.5% year-over-year.

• Basic EPS for FY2024 was 21.38 sen, a 44.9% increase from 14.75 sen in FY2023.

• Net assets per share rose to RM1.03 from RM0.84 a year earlier.

• Cash and cash equivalents at year-end stood at RM1.43 billion, up from RM1.14 billion.

Outlook and guidance

• The US imposed a 25% tariff on aluminium imports, but direct exposure to the US market is minimal.

• The company is leveraging upstream alumina assets and vertical integration to mitigate raw material price volatility.

• Market remains balanced, supported by investments in clean energy, EVs, and grid infrastructure.