- Riverstone’s revenue for 4Q24 rose by 21.0% y-o-y but fell by 6.8% q-o-q, reaching MYR278.0m. On a full year basis, FY24 revenue grew 17.3% y-o-y to MYR1,072.8m.
- Management attributed the y-o-y growth to both the cleanroom and healthcare segments.
Competition for healthcare gloves intensified outside of the US, but management remains focused on creating value through its cleanroom segment.
- - Read this at SGinvestors.io -
- In 4Q24, the cleanroom segment reported a gross profit margin of ~53.5%, while the healthcare segment's margin was around 17-18%.
Gross profit margins for 4Q24 compressed y-o-y, declining from 39.6% to 32.3% due to a weaker US$/MYR exchange rate.
- - Read this at SGinvestors.io -
- Management attributed this decline primarily to weaker US$-to-MYR exchange rates. Regarding their hedging policy, Riverstone hedges approximately 50% of monthly sales and does not engage in long-term foreign exchange (FX) hedging.
- Overall, FY24 net profit came in-line with expectations, growing 30.2% y-o-y to MYR286.9m, accounting for 99.9% for our FY24 forecast.
3 consecutive years of special dividend payout.
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Donovan Tan OCBC Investment Research | https://www.iocbc.com/ 2025-02-25
Previous report by OCBC:
2024-12-03 Riverstone - Wearing Success.
Price targets by other brokers at Riverstone Target Prices.
Listing of research reports at Riverstone Analyst Reports.
Relevant links:
Riverstone Share Price History,
Riverstone Announcements,
Riverstone Dividend Payout Dates & Corporate Actions,
Riverstone News
