Riverstone (AP4) Q2 2026 earnings summary

Executive summary

• 1H FY2026 revenue was RM480.9 million, down 3.2% year-over-year but up 24.5% quarter-over-quarter, with 2Q2026 revenue at RM266.7 million, up 24.5% quarter-over-quarter.

• Gross profit for 1H FY2026 was RM158.1 million, up 6.9% year-over-year and 54.8% quarter-over-quarter, with gross profit margin improving to 32.9% for 1H2026 and reaching 36.0% in 2Q2026.

• Net profit for 1H FY2026 totaled RM106.9 million, a 5.0% increase year-over-year and a 60.2% rise quarter-over-quarter, with 2Q2026 net profit at RM65.8 million.

• Earnings per share for 1H2026 was 7.21 sen, with diluted EPS for 2Q2026 at 4.44 sen.

• Interim dividend of 5.0 sen per share declared for 1H2026.

Financial highlights

• Cost of sales for 1H2026 decreased 7.5% to RM322.9 million, supporting margin expansion.

• Operating cash flow for 1H FY2026 was RM249.1 million, with cash and cash equivalents at RM576.0 million as of 30 June 2026.

• Profit before tax for 1H FY2026 was RM138.7 million, up 5.8% year-over-year.

• Dividend payout ratio for 1H2026 was 69.3%.

• Earnings per share increased to 7.21 sen from 6.87 sen year-over-year.

Key financial ratios and metrics

• Gross profit margin improved to 32.9% in 1H2026 and 36.0% in 2Q2026.

• Net asset value per share was RM0.97 as of 30 June 2026.

• Dividend yield was approximately 3.8% annualised as of 7 August 2026.

• Effective tax rate was 23.0% in 1H2026.

• Sustained dividend payments since IPO, with payout ratios peaking above 150% in prior years.