MTEC is moving ahead! Third-quarter growth, future layout analysis.

MTEC achieved revenue of 87.625 million ringgit in the third quarter of 2024, a 20.3% increase compared to the previous quarter, demonstrating strong demand for its core business. The low-voltage cable business remains the main revenue driver, accounting for over 91.0%.

As of September 30, 2024, the cumulative revenue reached 0.228 billion ringgit, with a gross margin of 12.4%, demonstrating the company's optimization in cost control and business efficiency.

Despite the revenue growth, pre-tax profit decreased by 19.7% to 7.038 million ringgit compared to the previous quarter, mainly due to one-time IPO-related expenses. Excluding one-time IPO costs, the company's pre-tax profit remained the same as the previous quarter.

With accumulated net income of 19.657 million ringgit and a profit margin of 8.6%, the company's profitability remains strong. The spending on new projects and expansion plans has laid the foundation for future growth.

According to market forecasts, the Malaysian cable industry is expected to reach a market size of 11.205 billion ringgit in 2025, with an average annual growth of 5.25%. MTEC actively seizes future growth opportunities through the development of medium-voltage cables and expansion into overseas markets.

Meanwhile, the recent acquisition of Sediacom Sdn. Bhd. has provided new business opportunities in the electrical utilities infrastructure sector.

The company's net assets per share in the third quarter increased from 12.73 cents at the end of last year to 17.46 cents. MTEC distributed dividends twice within 9 months, demonstrating a focus on shareholder returns.

At the same time, the IPO raised 61.66 million ringgit is also being used for crucial equipment procurement and the construction of a medium voltage cable production line, laying an important foundation for future growth.

With strong industry insights and clear growth strategy, MTG has rapidly established a market position in less than a year since going public. In the future, the company will continue to progress in business expansion and core strengths integration, creating greater value for shareholders and the market!