Kuala lumpur: Wasco Bhd’s net profit rose to RM160.54 million for the financial year ended Dec 31, 2025 (FY2025), from RM153.04 million in the preceding year. In a filing with Bursa Malaysia today, the provider of energy solutions said its revenue, however, fell to RM2.60 billion from RM3.18 billion previously mainly due to the timing of execution of awarded projects.
According to BERNAMA News Agency, for the fourth quarter (4Q) ended Dec 31, 2025, Wasco’s net profit firmed to RM56.50 million from RM35.27 million a year earlier, while revenue decreased to RM592.39 million from RM984.40 million. In a separate statement, the company noted that the stronger 4Q bottom-line performance reflects improved operating leverage as projects progressed into higher-margin execution phases, supported by disciplined cost management across the group.
Managing director and group chief executive officer Giancarlo Maccagno highlighted that the company delivered RM470 million in cumulative profit after tax over three consecutive years in a project-driven industry, showcasing sustained profitability and operational discipline. Maccagno emphasized the company’s confidence in earnings sustainability with a net cash position of RM49.2 million as of Dec 31, 2025, and continued dividend payments, including a special dividend this year. Additionally, Wasco’s FTSE4Good Bursa Malaysia Index score improved to 4.4 from 4.1, with a maximum 5.0 score in the social theme, reflecting strengthened governance and responsible business practices.
Wasco’s board has proposed a final dividend of three sen per share and a special dividend of a sen per share for FY2025, totaling four sen per share. This declaration underscores the group’s strengthened balance sheet, sustained profitability over three consecutive financial years, and disciplined capital allocation.
Looking forward, Wasco plans to continue executing a diversified portfolio of projects across Southeast Asia, the Middle East, Africa, Europe, and Australia, which includes offshore oil and gas infrastructure, modular fabrication, substations, pipeline services, power generation, and energy storage systems. The company stated its order book has increased to RM2.8 billion, and the tender book of RM12.0 billion provides earnings visibility into FY2026 and beyond.