Reported Earnings • May 26
First quarter 2026 earnings released: RM0.021 loss per share (vs RM0.004 loss in 1Q 2025) First quarter 2026 results: RM0.021 loss per share (further deteriorated from RM0.004 loss in 1Q 2025). Revenue: RM67.8m (down 14% from 1Q 2025). Net loss: RM12.2m (loss widened 411% from 1Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. New Risk • May 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Malaysian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (RM73.6m market cap, or US$18.8m). Announcement • Apr 29
HeveaBoard Berhad, Annual General Meeting, Jun 19, 2026 HeveaBoard Berhad, Annual General Meeting, Jun 19, 2026, at 10:00 Singapore Standard Time. Location: lot 1942, heveawood industrial park, batu 3, jalan tampin, 73400 gemas, negeri sembilan darul khusus, Malaysia Reported Earnings • Mar 02
Full year 2025 earnings released: RM0.071 loss per share (vs RM0.009 loss in FY 2024) Full year 2025 results: RM0.071 loss per share (further deteriorated from RM0.009 loss in FY 2024). Revenue: RM305.6m (down 6.6% from FY 2024). Net loss: RM40.2m (loss widened RM35.2m from FY 2024). Revenue is forecast to stay flat during the next 2 years compared to a 8.5% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 11% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (RM79.2m market cap, or US$20.4m). New Risk • Feb 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Malaysian stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (RM76.4m market cap, or US$19.6m). Announcement • Jan 02
HeveaBoard Berhad Announces Retirement of Hew Mei Ying (Elaine Hew) as Chief Financial Officer, Effective December 31, 2025 HeveaBoard Berhad announced the retirement of Miss Hew Mei Ying (Elaine Hew), aged 66, a Malaysian female, from the position of Chief Financial Officer, effective December 31, 2025. New Risk • Dec 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (RM104.7m market cap, or US$25.8m). Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Pik Chin was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • Nov 24
Consensus EPS estimates fall by 475% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from RM315.2m to RM310.9m. Losses expected to increase from RM0.008 per share to RM0.046. Forestry industry in Malaysia expected to see average net income growth of 43% next year. Consensus price target down from RM0.22 to RM0.20. Share price fell 7.9% to RM0.17 over the past week. Reported Earnings • Nov 18
Third quarter 2025 earnings released: RM0.023 loss per share (vs RM0.016 loss in 3Q 2024) Third quarter 2025 results: RM0.023 loss per share (further deteriorated from RM0.016 loss in 3Q 2024). Revenue: RM73.4m (down 7.0% from 3Q 2024). Net loss: RM13.2m (loss widened 47% from 3Q 2024). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Sep 03
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from RM321.1m to RM315.2m. Losses expected to increase from RM0 per share to RM0.008. Forestry industry in Malaysia expected to see average net income growth of 62% next year. Consensus price target of RM0.22 unchanged from last update. Share price fell 9.1% to RM0.20 over the past week. Reported Earnings • Aug 29
Second quarter 2025 earnings released: RM0.024 loss per share (vs RM0.001 loss in 2Q 2024) Second quarter 2025 results: RM0.024 loss per share (further deteriorated from RM0.001 loss in 2Q 2024). Revenue: RM64.1m (down 11% from 2Q 2024). Net loss: RM13.5m (loss widened RM12.7m from 2Q 2024). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jul 03
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 10 July 2025. Payment date: 25 July 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Malaysian dividend payers (5.6%). Lower than average of industry peers (5.3%). Reported Earnings • May 24
First quarter 2025 earnings released: RM0.004 loss per share (vs RM0.002 profit in 1Q 2024) First quarter 2025 results: RM0.004 loss per share (down from RM0.002 profit in 1Q 2024). Revenue: RM79.3m (down 11% from 1Q 2024). Net loss: RM2.38m (down 336% from profit in 1Q 2024). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Declared Dividend • May 01
Dividend of RM0.01 announced Dividend of RM0.01 is the same as last year. Ex-date: 10th July 2025 Payment date: 25th July 2025 Dividend yield will be 4.3%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Apr 29
HeveaBoard Berhad, Annual General Meeting, Jun 26, 2025 HeveaBoard Berhad, Annual General Meeting, Jun 26, 2025, at 10:00 Singapore Standard Time. Location: lot 1942, heveawood industrial park, batu 3, jalan tampin, 73400 gemas, negeri sembilan darul khusus, Malaysia Price Target Changed • Mar 12
Price target decreased by 17% to RM0.24 Down from RM0.29, the current price target is provided by 1 analyst. New target price is 9.1% above last closing price of RM0.22. Stock is down 33% over the past year. The company is forecast to post earnings per share of RM0.003 next year compared to a net loss per share of RM0.0089 last year. Reported Earnings • Feb 28
Full year 2024 earnings released: RM0.009 loss per share (vs RM0.007 loss in FY 2023) Full year 2024 results: RM0.009 loss per share (further deteriorated from RM0.007 loss in FY 2023). Revenue: RM327.3m (up 10% from FY 2023). Net loss: RM5.06m (loss widened 35% from FY 2023). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings have declined by 44% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 44% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM130.1m market cap, or US$29.3m). Reported Earnings • Nov 29
Third quarter 2024 earnings released: RM0.016 loss per share (vs RM0.001 profit in 3Q 2023) Third quarter 2024 results: RM0.016 loss per share (down from RM0.001 profit in 3Q 2023). Revenue: RM78.9m (up 14% from 3Q 2023). Net loss: RM9.00m (down RM9.33m from profit in 3Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Price Target Changed • Nov 29
Price target decreased by 15% to RM0.29 Down from RM0.34, the current price target is provided by 1 analyst. New target price is 16% above last closing price of RM0.25. Stock is down 28% over the past year. The company is forecast to post a net loss per share of RM0.005 next year compared to a net loss per share of RM0.0066 last year. Major Estimate Revision • Sep 04
Consensus revenue estimates fall by 19% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM489.4m to RM397.8m. EPS estimate fell from RM0.006 to RM0.002 per share. Net income forecast to shrink 21% next year vs 23% growth forecast for Forestry industry in Malaysia . Consensus price target of RM0.33 unchanged from last update. Share price was steady at RM0.30 over the past week. Reported Earnings • Aug 29
Second quarter 2024 earnings released: RM0.001 loss per share (vs RM0 in 2Q 2023) Second quarter 2024 results: RM0.001 loss per share (further deteriorated from RM0 in 2Q 2023). Revenue: RM71.6m (up 16% from 2Q 2023). Net loss: RM709.0k (down RM858.0k from profit in 2Q 2023). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 08
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 30 July 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (4.5%). Lower than average of industry peers (4.7%). Reported Earnings • Jun 04
First quarter 2024 earnings released: EPS: RM0.002 (vs RM0.012 loss in 1Q 2023) First quarter 2024 results: EPS: RM0.002 (up from RM0.012 loss in 1Q 2023). Revenue: RM88.7m (up 14% from 1Q 2023). Net income: RM1.01m (up RM7.82m from 1Q 2023). Profit margin: 1.1% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Declared Dividend • May 01
Dividend reduced to RM0.01 Dividend of RM0.01 is 17% lower than last year. Ex-date: 15th July 2024 Payment date: 30th July 2024 Dividend yield will be 3.0%, which is lower than the industry average of 4.2%. Announcement • May 01
HeveaBoard Berhad, Annual General Meeting, Jun 28, 2024 HeveaBoard Berhad, Annual General Meeting, Jun 28, 2024, at 10:00 Singapore Standard Time. Location: PT 405, Kawasan Perindustrian Sg. Gadut KM 11, Jalan Tampin, 71450 Seremban, Negeri Sembilan Darul Khusus Seremban Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Reports of the Directors and Auditors thereon; to approve a first and final single-tier dividend of 1.0 sen per ordinary share in respect of the financial year ended 31 December 2023; to approve the payment of Directors' fees payable up to an amount of MYR 977,094 per annum for the financial year ending 31 December 2024; to re-elect Ms Yoong Li Yen as Director who retires pursuant to Clause 97 of the Company's Constitution, and being eligible, offered herself for re-election; to re-appoint Messrs Baker Tilly Monteiro Heng PLT as Auditors of the Company for the ensuing financial year and to authorise the Directors to fix their remuneration; and to consider other matters. Reported Earnings • Mar 02
Full year 2023 earnings released: RM0.006 loss per share (vs RM0.016 profit in FY 2022) Full year 2023 results: RM0.006 loss per share (down from RM0.016 profit in FY 2022). Revenue: RM296.4m (down 28% from FY 2022). Net loss: RM3.65m (down 139% from profit in FY 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. New Risk • Mar 01
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 36% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM186.7m market cap, or US$39.4m). Reported Earnings • Nov 23
Third quarter 2023 earnings released: EPS: RM0.001 (vs RM0.006 loss in 3Q 2022) Third quarter 2023 results: EPS: RM0.001 (up from RM0.006 loss in 3Q 2022). Revenue: RM69.3m (down 4.8% from 3Q 2022). Net income: RM332.0k (up RM3.51m from 3Q 2022). Profit margin: 0.5% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: RM0 (vs RM0.005 in 2Q 2022) Second quarter 2023 results: EPS: RM0 (down from RM0.005 in 2Q 2022). Revenue: RM61.7m (down 41% from 2Q 2022). Net income: RM149.0k (down 95% from 2Q 2022). Profit margin: 0.2% (down from 2.7% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 28
Upcoming dividend of RM0.012 per share at 3.4% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 20 July 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Malaysian dividend payers (5.5%). Lower than average of industry peers (3.9%). Announcement • Jun 21
Heveaboard Berhad Approves First and Final Single-Tier Dividend in Respect of the Financial Year Ended 31 December 2022 HeveaBoard Berhad approved a first and final single-tier dividend of 1.2 sen per ordinary share in respect of the financial year ended 31 December 2022. Reported Earnings • May 20
First quarter 2023 earnings released: RM0.012 loss per share (vs RM0.009 profit in 1Q 2022) First quarter 2023 results: RM0.012 loss per share (down from RM0.009 profit in 1Q 2022). Revenue: RM77.8m (down 40% from 1Q 2022). Net loss: RM6.82m (down 231% from profit in 1Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: RM0.017 (vs RM0.002 loss in FY 2021) Full year 2022 results: EPS: RM0.017 (up from RM0.002 loss in FY 2021). Revenue: RM405.8m (up 9.4% from FY 2021). Net income: RM9.39m (up RM10.6m from FY 2021). Profit margin: 2.3% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 20
Third quarter 2022 earnings released: RM0.006 loss per share (vs RM0.007 loss in 3Q 2021) Third quarter 2022 results: RM0.006 loss per share (improved from RM0.007 loss in 3Q 2021). Revenue: RM72.7m (up 12% from 3Q 2021). Net loss: RM3.17m (loss narrowed 14% from 3Q 2021). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 8.0% decline forecast for the Forestry industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Nov 19
Consensus EPS estimates fall by 58% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from RM520.6m to RM507.1m. EPS estimate also fell from RM0.03 per share to RM0.01 per share. Net income forecast to shrink 22% next year vs 8.9% decline forecast for Forestry industry in Malaysia. Consensus price target down from RM0.53 to RM0.38. Share price was steady at RM0.37 over the past week. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Pik Chin was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 02
HeveaBoard Berhad Appoints Miss Chin Pik Yuen as Independent and Non Executive Director HeveaBoard Berhad announced the appointment of Miss Chin Pik Yuen as Independent and Non Executive Director. Date of change is November 1, 2022. She started her career with Hanafiah Raslan & Mohamad/Arthur Andersen & Co. as a statutory auditor in 1988. Thereafter she took up an internal audit role in Commerce Asset Holdings group and headed the Professional Practices and Head Office & Subsidiaries Audit functions till 1996. Her focus was on audit of commercial banking and capital market activities, as well as the professional practices of internal auditors within the group. Ms Chin moved on to establish the internal audit function of a public listed company which operates in the capital market sector. Her role subsequently progressed to various other functions within the group, including Special Projects, Systems & Methods and Human Resources & Administration. She was with the company for over 7 years till 2004. She then joined a US-based Outsourcing company. In her governance role, she supported the Hong Kong operations, and implemented change management costing protocols in Malaysia and Hong Kong. She then joined Consumer Banking Risk & Compliance at Standard Chartered Bank, and subsequently OSK Investment Bank as head of group Compliance, covering Hong Kong, Singapore, Indonesia, Thailand and Cambodia. Vietnam was added to her portfolio post-merger with RHB Investment Bank in 2013. Ms. Chin joined Securities Commission Malaysia in 2014 where she served until her retirement in 2021. She headed the Managed Investment Schemes Department and subsequently the Authorisation & Licensing function. Her final role was General Manager of Corporate Planning and Strategy Department. Ms Chin held various management positions in audit, risk and compliance. While governance was the mainstay, she had taken various diverse roles, giving meaningful grounding on business functions over which she held governance and controls oversight in the organizations she served. Reported Earnings • Aug 23
Second quarter 2022 earnings released: EPS: RM0.005 (vs RM0.007 loss in 2Q 2021) Second quarter 2022 results: EPS: RM0.005 (up from RM0.007 loss in 2Q 2021). Revenue: RM104.3m (up 17% from 2Q 2021). Net income: RM2.78m (up RM6.63m from 2Q 2021). Profit margin: 2.7% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 29%, compared to a 6.2% growth forecast for the Forestry industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 20
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from RM507.9m to RM520.6m. EPS estimate fell from RM0.05 to RM0.03 per share. Net income forecast to grow 307% next year vs 14% growth forecast for Forestry industry in Malaysia. Consensus price target down from RM0.63 to RM0.53. Share price fell 4.3% to RM0.45 over the past week. Upcoming Dividend • Jul 07
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 29 July 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.3%. Lower than top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (5.2%). Reported Earnings • May 19
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: RM0.009 (up from RM0.002 loss in 1Q 2021). Revenue: RM129.6m (up 29% from 1Q 2021). Net income: RM5.22m (up RM6.18m from 1Q 2021). Profit margin: 4.0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 30%, compared to a 13% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • May 02
HeveaBoard Berhad, Annual General Meeting, Jun 24, 2022 HeveaBoard Berhad, Annual General Meeting, Jun 24, 2022, at 10:00 China Standard Time. Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2021 together with the Reports of the Directors and Auditors thereon; to consider directorate reelections; to re-appoint Baker Tilly Monteiro Heng PLT as Auditors of the Company for the upcoming year and to authorise the Directors to fix their remuneration; and to consider other matters. Price Target Changed • Apr 27
Price target increased to RM0.63 Up from RM0.43, the current price target is provided by 1 analyst. New target price is 11% above last closing price of RM0.57. Stock is down 11% over the past year. The company is forecast to post earnings per share of RM0.047 next year compared to a net loss per share of RM0.002 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Non-Independent & Non Executive Director Chin Loo was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Mar 29
HeveaBoard Berhad Recommends First and Final Single-Tier Dividend in Respect of the Financial Year Ended 31 December 2021 The Board of Directors of HeveaBoard Berhad announced the recommendation for the declaration and payment of a first and final single-tier dividend of 1.0 sen per ordinary share in respect of the financial year ended 31 December 2021, which is subject to the approval of the shareholders of HeveaBoard at its upcoming Annual General Meeting. Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: RM0.002 loss per share (down from RM0.029 profit in FY 2020). Revenue: RM370.9m (down 4.6% from FY 2020). Net loss: RM1.16m (down 107% from profit in FY 2020). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 37%, compared to a 3.7% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Price Target Changed • Jan 18
Price target increased to RM0.63 Up from RM0.43, the current price target is provided by 1 analyst. New target price is 37% above last closing price of RM0.46. Stock is down 31% over the past year. The company is forecast to post a net loss per share of RM0.004 compared to earnings per share of RM0.029 last year. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Non-Independent & Non Executive Director Chin Loo was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Dec 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Non-Independent & Non Executive Director Chin Loo was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 26
Third quarter 2021 earnings: EPS and revenues exceed analyst expectations Third quarter 2021 results: RM0.006 loss per share (down from RM0.014 profit in 3Q 2020). Revenue: RM65.2m (down 41% from 3Q 2020). Net loss: RM3.70m (down 145% from profit in 3Q 2020). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 20%, compared to a 27% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 30
Second quarter 2021 earnings released: RM0.007 loss per share (vs RM0.008 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: RM89.6m (up 45% from 2Q 2020). Net loss: RM3.85m (loss narrowed 14% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 20% per year. Price Target Changed • Sep 30
Price target decreased to RM0.54 Down from RM0.65, the current price target is an average from 2 analysts. New target price is 16% above last closing price of RM0.46. Stock is down 4.2% over the past year. Major Estimate Revision • Jun 16
Consensus EPS estimates fall to RM0.025 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from RM446.4m to RM433.5m. EPS estimate also fell from RM0.029 to RM0.025. Net income forecast to grow 21% next year vs 32% growth forecast for Forestry industry in Malaysia. Consensus price target down from RM0.65 to RM0.61. Share price fell 3.6% to RM0.54 over the past week. Announcement • May 29
Heveaboard Berhad Announces Final Dividend for the Financial Year Ended 31 December 2020, Payable on July 29, 2021 HeveaBoard Berhad announced a Single-Tier Final Dividend of 0.75 sen per ordinary share in respect of the financial year ended 31 December 2020. Ex-date is on July 14, 2021 and payment date is on July 29, 2021. Major Estimate Revision • May 26
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from RM0.034 to RM0.029. Revenue forecast unchanged from RM446.4m at last update. Net income forecast to grow 39% next year vs 39% growth forecast for Forestry industry in Malaysia. Consensus price target broadly unchanged at RM0.61. Share price fell 11% to RM0.55 over the past week. Reported Earnings • May 20
First quarter 2021 earnings released: RM0.002 loss per share (vs RM0.003 profit in 1Q 2020) The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: RM100.3m (up 9.5% from 1Q 2020). Net loss: RM961.0k (down 150% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 15%, compared to a 17% growth forecast for the Forestry industry in Malaysia. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS RM0.028 (vs RM0.026 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: RM388.6m (down 7.3% from FY 2019). Net income: RM15.9m (up 9.9% from FY 2019). Profit margin: 4.1% (up from 3.4% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Dec 17
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from RM0.021 to RM0.025. Revenue estimate for the same period was approximately flat at RM384.7m. Net income is expected to grow by 43% next year compared to 23% growth forecast for the Forestry industry in Malaysia. The consensus price target of RM0.67 was unchanged from the last update. Share price stayed mostly flat at RM0.74 over the past week. Is New 90 Day High Low • Dec 01
New 90-day high: RM0.81 The company is up 81% from its price of RM0.45 on 02 September 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.37 per share. Reported Earnings • Nov 26
Third quarter 2020 earnings released: EPS RM0.014 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: RM111.0m (up 14% from 3Q 2019). Net income: RM8.17m (up 137% from 3Q 2019). Profit margin: 7.4% (up from 3.5% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 03
New 90-day high: RM0.55 The company is up 28% from its price of RM0.43 on 05 August 2020. The Malaysian market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.20 per share.