ADVANCECON REPORTS STRONG Q4 PERFORMANCE WITH IMPROVED BOTTOM LINE AND HEALTHY ORDER BOOK
Group sees continued growth in quarry segment, optimistic on future outlook
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Key Highlights:
• Healthy order book: Sustained a strong order book of RM673 million as of 31 December 2024, providing solid revenue visibility and future earnings stability.
• One-Off Expense Impact: Quarterly loss primarily driven by a one-off Employee Share Option Scheme expense of RM3.4 million.
• Core Profitability: Excluding this non-recurring expense, the Group marked a notable turnaround and would have recorded a Profit Attributable to Owners of the Company of RM0.6 million.
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KUALA LUMPUR, 27 February 2025 – Earthworks and civil engineering services specialist, Advancecon Holdings Berhad (前进控股有限公司) (“ADVCON” or “the Group”) today announced its fourth-quarter results for the financial year ended 31 December 2024 (“Q4 FYE 31 December 2024”) and its consolidated results for the FYE 31 December 2024.
For Q4 FYE 31 December 2024, the Group reported revenue of RM100.5 million, reflecting an increase of RM3.8 million or approximately 4% compared to Q4 FYE 31 December 2023. This growth was primarily driven by the Quarry segment, which remained the largest revenue contributor for the quarter in review, generating RM53.9 million or approximately 54% of the Group’s total revenue. Meanwhile, the Construction and Support Services segment contributed RM44.6 million, accounting for 44% of total revenue.