99 Speed Mart Retail Holdings Berhad (99SMART) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 rose 7.7% year-over-year to RM2,611.6 million, driven by 246 new outlets, totaling 2,833 as of March 2025.

• Gross profit increased 11.3% to RM314.5 million, with stable gross profit margin due to promotional discounts and target incentives.

• Profit before tax (PBT) grew 6.6% to RM190.2 million; profit after tax (PAT) up 7.5% to RM143.2 million, with PBT and PAT margins stable at 7.3% and 5.5%.

• Total sales transactions rose 7.8% to 119.6 million; average basket size remained at RM21.80.

• Q1 2025 revenue increased 1.0% sequentially from Q4 2024, mainly due to festive demand and strong e-commerce bulk sales.

Financial highlights

• Revenue: RM2,611.6 million (up 7.7% year-over-year).

• Gross profit: RM314.5 million (up 11.3% year-over-year).

• PBT: RM190.2 million (up 6.6% year-over-year); PAT: RM143.2 million (up 7.5% year-over-year).

• Basic EPS: 1.70 sen (up from 1.59 sen year-over-year).

• Net cash from operating activities: RM144.2 million (up from RM118.1 million year-over-year).

Outlook and guidance

• Focus on affordability, accessibility, and strategic outlet placement to support cost-conscious households.

• Pilot phase of Light-Duty EV trucks to build a sustainable logistics network and reduce emissions.

• New Cyberjaya distribution center to commence in Q2 2025, supporting 200 outlets and e-commerce growth.