Westports Holdings (WPRTS) Q4 2024 earnings summary

Executive summary

• Revenue for FY2024 rose 9% year-over-year to RM2.34 billion, driven mainly by higher container revenue.

• Profit before tax increased 13% to RM1.14 billion, while profit after tax grew 15% to RM898 million for the year.

• Fourth quarter operational revenue was RM613 million, up 14% from the prior year, with PAT up 25% to RM257 million.

Financial highlights

• Gross profit for FY2024 was RM1.44 billion, up 17% year-over-year.

• Basic EPS for FY2024 was 26.33 sen, a 15% increase from the previous year.

• Net cash generated from operating activities reached RM1.29 billion, with cash and short-term investments at RM780.8 million as of year-end.

• Dividends paid during the year totaled RM600.5 million.

Outlook and guidance

• Management expects low single-digit container volume growth for 2025, with Intra-Asia remaining the main contributor.

• External risks include Middle East tensions and slow growth in developed economies.