Mega First Corporation Berhad Full Year 2024 Earnings: Beats Expectations

Mega First Corporation Berhad (KLSE:MFCB) Full Year 2024 Results

Key Financial Results

• Revenue: RM1.74b (up 32% from FY 2023).
• Net income: RM459.2m (up 20% from FY 2023).
• Profit margin: 26% (down from 29% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: RM0.49 (up from RM0.41 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Mega First Corporation Berhad Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) also surpassed analyst estimates by 5.4%.

The primary driver behind last 12 months revenue was the Renewable Energy segment contributing a total revenue of RM1.03b (59% of total revenue). Notably, cost of sales worth RM1.09b amounted to 62% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling RM178.6m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how MFCB's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Asia are expected to grow by 9.8%.

Performance of the market in Malaysia.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Mega First Corporation Berhad that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.