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Top Glove (TOPGLOV) investor relations material

Top Glove Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary17 Dec, 2025

Executive summary

  • Achieved strong profit growth in 1QFY26, with PATAMI up 680% YoY and 11% QoQ, and operating profit up 925% YoY, driven by robust sales volume growth, improved operational efficiency, and cost discipline.

  • Sales volume increased 17% YoY and 4% QoQ, with notable gains in North America and other key markets, supported by demand recovery and strategic marketing.

  • Cost optimization, higher utilization rates, and favorable raw material prices contributed to margin improvements.

Financial highlights

  • 1QFY26 revenue was RM884 million, nearly flat YoY and QoQ due to lower ASPs and a stronger Ringgit.

  • EBITDA rose to RM130 million (up 41% YoY and 21% QoQ), with EBITDA margin improving to 15%.

  • Core PATAMI surged 3,600% YoY and 23% QoQ to RM37 million; reported PATAMI up 680% YoY to RM39 million.

  • Profit before tax was RM45 million, up from RM19 million in 1QFY2025.

  • Positive operating cash flow and proceeds from land disposal improved net debt position by RM156 million.

Outlook and guidance

  • Glove demand is expected to rise further, with significant sales growth in Europe anticipated for 2QFY26.

  • Four additional factories (6 billion pcs annual capacity) are being recommissioned to meet growing orders.

  • Utilization rates projected to reach 75% by December 2025, supporting further cost optimization and competitiveness.

  • Continued focus on operational excellence, quality enhancement, and cost optimisation is expected to sustain momentum.

  • Ongoing foreign exchange hedging and prudent financial management are highlighted as resilience strategies.

Impact of FX translation on comprehensive income
How was current debt reduced so significantly?
Volume growth strategy given lower ASPs
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Frequently asked questions

Top Glove Corporation Bhd, established in 1991 in Malaysia, has evolved to become the world's largest manufacturer of gloves product portfolio extends beyond gloves to include non-glove items like condoms, face masks, dental dams, exercise bands, household products, catering to both healthcare and non-healthcare segments. Top Glove is headquartered in Shah Alam, Malaysia, and its shares are listed on the Kuala Lumpur Stock Exchange.

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