Latest news with #SolarvestHoldingsBhd
New Straits Times
22-05-2025
- Business
- New Straits Times
Analyst ups Solarvest earnings forecast, raises target price to RM2.28
KUALA LUMPUR: Maybank Investment Bank (Maybank IB) has raised its earnings forecasts for Solarvest Holdings Bhd, citing higher assumed annual orderbook replenishment of RM1 billion and stronger contributions from the company's associates. The firm raised its estimations for financial year 2026 (FY26) and FY27 by 23 per cent and 22 per cent, respectively. It also introduced projections for FY28, noting improved earnings visibility supported by Solarvest's strong project execution capabilities and growing share of recurring income. In tandem with the upward revision, the firm raised its target price for Solarvest to RM2.28 per share, up from RM2.14 previously, while reiterating its 'Buy' recommendation. The upgrade follows Solarvest's strong financial performance for FY25, where core net profit came in above expectations — achieving 108 per cent of both Maybank IB's and consensus forecasts. Solarvest Holdings Bhd reported a net profit of RM20.53 million for the fourth quarter ended March 31, 2025, nearly tripling from RM7.73 million a year earlier. Revenue for the quarter surged 132 per cent year-on-year to RM224.87 million, driven by increased roll-outs of utility-scale solar projects under the Corporate Green Power Programme. For the full FY25, the group posted a net profit of RM51.94 million, up 59 per cent from the previous year, while revenue rose eight per cent to RM536.82 million. "The earnings beat was mainly driven by stronger-than-expected engineering, procurement, construction and commissioning margins, despite some revenue shortfall in the EPCC segment, which is now to be recognised in FY26," the firm added. Maybank IB said Solarvest's outstanding orderbook stood at RM1.24 billion as of end-March 2025, which is expected to be progressively recognised over the FY26 to FY28 period. "Under its Powervest programme, it has secured 129 megawatt-peak in corporate power purchase agreements, which are expected to contribute around RM50.8 million in annual recurring revenue after completion, expected in the next 12 to 18 months," it said. Solarvest is actively pursuing opportunities under the upcoming large scale programmes LSS5+ and LSS6 tenders, as well as initiatives such as Net Energy Metering 3.0, New Enhanced Dispatch Arrangement, Battery Energy Storage Systems and Self-consumption.
The Star
21-05-2025
- Business
- The Star
Solarvest order book to surpass RM2bil in FY26
Solarvest executive director and group chief executive officer Davis Chong Chun Shiong. PETALING JAYA: Solarvest Holdings Bhd executive director and group CEO Davis Chong Chun Shiong is confident the clean energy expert's order book will cross the RM2bil mark in financial year 2026 (FY26). As he reviewed the final quarter of the group's 2025 financial year, Chong said the feat will be supported by additional fifth large scale solar (LSS5) contracts, anticipated LSS5+ award, as well as active participation in solar battery energy storage systems and upcoming LSS6 tenders in the second quarter of financial year 2025 (2Q25) and 3Q25 of this calendar year. 'In light of the potential rise in Malaysia's electricity tariffs in July, we also foresee improved project feasibility under the Corporate Renewable Energy Supply Scheme. 'This creates compelling opportunities for Solarvest to scale beyond our RM2bil order book target,' he said in a statement. 'The key drivers of our revenue growth include ongoing engineering, procurement, construction, and commissioning projects under the Corporate Green Power Programme and LSS5 programmes. 'Beyond utility scale projects, the commercial and industrial segment is also expected to remain strong, with approximately RM200mil in annual replenishments.' As at March 31, 2025, the group's unbilled order book stood at RM1.24bil. In the fourth quarter of the financial year ended March 31, 2025 (4Q25), Solavest posted a net profit of RM20.53bil, a 165% increase over the net profit of RM7.73mil in the year-ago quarter. The group's revenue rose to RM224.87mil from RM96.9mil in the previous comparative quarter. Earnings per share climbed to 2.82 sen from 1.15 sen previously. Over the 12-month period, Solarvest's net profit rose to RM51.94mil from RM32.63mil in FY24, while revenue increased to RM536.82mil from RM497.03mil in the previous year. In a filing with Bursa Malaysia on its latest results, Solarvest said the outlook for Malaysia's renewable energy (RE) industry remains positive, driven by the government's commitment to increasing RE capacity to 70% of the national energy mix and achieving net-zero emissions by 2050. 'The power sector is projected to raise its RE capacity to 31% by 2025 and 40% by 2035, with solar energy expected to become the dominant RE source.' The company noted that Malaysia's renewable energy landscape continues to gain momentum with a series of new initiatives aimed at expanding solar power and energy storage capacity. 'Following the completion of the LSS5 and LSS5+ bidding rounds, the government has issued the Request for Proposal in May 2025 for the MyBeST programme slated to achieve commercial operation in 2027. 'The programme targets the deployment of 400MWh/1,600MWh of storage capacity across Peninsular Malaysia and opens participation to third-party developers.' Solarvest said this is expected to enhance grid stability and flexibility, supporting Malaysia's transition towards a higher share of renewable energy. 'All these initiatives underline the government's commitment to RE and are expected to benefit local RE developers and engineering, procurement, construction and commissioning players. 'Barring any unforeseen circumstances, the board is of the view that the group's overall performance would remain satisfactory for the coming financial year.'
New Straits Times
21-05-2025
- Business
- New Straits Times
Solarvest Q4 net profit nearly triples to RM21mil, eyes RM2bil orderbook by FY26
KUALA LUMPUR: Solarvest Holdings Bhd reported a net profit of RM20.53 million for the fourth quarter ended March 31, 2025 (4QFY25), nearly tripling from RM7.73 million a year earlier, it said in a bourse filing. Revenue for the quarter surged 132 per cent year-on-year to RM224.87 million, driven by increased roll-outs of utility-scale solar projects under the Corporate Green Power Programme (CGPP). For the full financial year (FY2025), the group posted a net profit of RM51.94 million, up 59 per cent from the previous year, while revenue rose eight per cent to RM536.82 million. Solarvest maintained a solid project pipeline, with an unbilled order book of RM1.24 billion as of March 31, 2025, to be recognised progressively over FY2026 and FY2027. "We are confident to reach more than RM2 billion orderbook in FY26," said executive director and chief executive officer Davis Chong Chun Shiong. "This will be supported by additional LSS5 contracts, the anticipated LSS5+ award, as well as our active participation in battery energy storage systems and the upcoming LSS6 tenders in the second and third quarters of this calendar year. "In light of the potential rise in Malaysia's electricity tariffs in July, we also foresee improved project feasibility under the Corporate Renewable Energy Supply Scheme to create compelling opportunities to scale beyond our orderbook target," he added. Solarvest has capitalised on various national energy initiatives, including the Net Energy Metering 3.0 (NEM 3.0), battery energy storage system (BESS) and solar energy self-consumption (SelCo) programmes. Its Powervest programme has secured 129 megawatt peak (MWp) in corporate power purchase agreements, expected to yield RM50.8 million in annual recurring revenue. Looking ahead, the group is optimistic about its growth prospects, aligning with the government's target of achieving 70 per cent renewable energy in the energy mix by 2050. Meanwhile, Solarvest assured that it is not affected by recent United States tariff developments, as its solar panels are directly sourced from China. "Cost-wise, we expect solar panel prices to remain stable due to the prevailing supply-demand imbalance and market oversupply," Chong said.
The Star
21-05-2025
- Business
- The Star
Solarvest optimistic orderbook to surpass RM2bil in FY26
KUALA LUMPUR: Solarvest Holdings Bhd executive director and group CEO Davis Chong Chun Shiong is confident the clean energy expert's orderbook will cross the RM2bil mark in FY26. As he reviewed the final quarter of the group's 2025 financial year, Chong said the feat will be supported by additional fifth large scale solar (LSS5) contracts, anticipated LSS5+ award, as well as active participation in solar battery energy storage systems (BESS) and upcoming LSS6 tenders in Q2 and Q3 of this calendar year. "In light of the potential rise in Malaysia's electricity tariffs in July, we also foresee improved project feasibility under the Corporate Renewable Energy Supply Scheme (CRESS). This creates compelling opportunities for Solarvest to scale beyond our RM2bil orderbook target,' he said in a statement. 'The key drivers of our revenue growth include ongoing engineering, procurement, construction, and commissioning projects under the Corporate Green Power Programme and LSS5 programmes. Beyond utility scale projects, the commercial and industrial segment is also expected to remain strong, with approximately RM200mil in annual replenishments.' As at March 31, 2025, the group's unbilled order book stood at RM1.24bil. In the fourth quarter of the financial year ended March 31, 2025 (4QFY25), Solavest posted a net profit of RM20.53bil, a 165% increase over the net profit of RM7.73mil in the year-ago quarter. The group's revenue rose to RM224.87mil from RM96.9mil in the previous comparative quarter. Earnings per share climbed to 2.82 sen from 1.15 sen previously. Over the 12-month period, Solarvest's net profit rose to RM51.94mil from RM32.63mil in FY24, while revenue increased to RM536.82mil from RM497.03mil in the previous year.
BusinessToday
21-05-2025
- Business
- BusinessToday
Solarvest Posts Record FY25, Targets RM2 Billion Orderbook Amid Clean Energy Boom
Solarvest Holdings Bhd has capped off its third consecutive record-breaking financial year with an impressive set of results for the fiscal year ended March 31, 2025 (FY25), solidifying its position as a regional leader in the clean energy sector. The group posted a revenue of RM536.8 million, up 8% year-on-year (YoY) from RM497 million in FY24. More notably, its gross profit surged by 50.8% YoY to RM149.5 million, supported by stronger margins of 27.9% (up from 20% last year). This sharp rise in profitability translated into a 59.2% jump in net profit, which reached RM51.9 million, delivering consistent margin expansion over the past three years. 'This is more than just a strong financial performance, it's validation of our strategic direction and resilience in an evolving energy market. 'We are confident in scaling past a RM2 billion orderbook in FY26, as demand accelerates across the Corporate Green Power Programme (CGPP), Battery Energy Storage Systems and the upcoming LSS6 tender,' Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said. He shared that as of March 31, 2025, Solarvest holds an unbilled orderbook of RM1.24 billion, which will be progressively recognised through FY26 and FY27. 'The momentum is just beginning,' said Chong. 'With the upcoming LSS5+ and LSS6 tenders and a potential rise in electricity tariffs this July, project feasibility under the Corporate Renewable Energy Supply Scheme is improving. That opens new doors for us to accelerate adoption in both utility-scale and commercial & industrial (C&I) segments,' Chong said, adding that the C&I segment alone is expected to generate around RM200 million in new projects annually, underscoring steady demand from corporates looking to decarbonise operations. Looking ahead, Solarvest is preparing for the launch of the Community Renewable Energy Aggregation Mechanism, a game-changing framework that will allow energy companies to generate electricity from rooftop solar systems and sell it directly to both commercial and residential users. This is expected to unlock a new frontier of decentralised, consumer-focused energy solutions. Related
