Riverstone (AP4) Q2 2025 earnings summary

Executive summary

• Manufactures high-tech cleanroom and healthcare gloves, serving electronics, semiconductor, pharmaceutical, and healthcare sectors.

• Operates globally with sites in Malaysia, China, Thailand, and the Philippines.

• Focuses on in-house technology, R&D, flexible production, and ESG initiatives.

• 2Q2025 revenue was RM244.8 million, down 0.8% year-over-year; gross profit margin fell to 26.8% from 40.2%.

• Net profit for 2Q2025 declined 37.4% to RM45.4 million compared to 2Q2024.

Financial highlights

• 1H FY2025 revenue was RM497.1 million, up 0.1% year-over-year; Q2 revenue declined 3.0% from Q1.

• Gross profit for 1H FY2025 was RM147.9 million, down 24.8% year-over-year; Q2 gross profit fell 20.0% sequentially.

• Net profit for 1H FY2025 was RM101.8 million, a 29.6% decrease year-over-year.

• Operating cash flow for 6M2025: RM150.6 million; net cash used in financing: RM222.6 million, mainly for dividends.

• Interim dividend of 2.5 sen per share declared for 2Q2025; RM222.3 million in dividends paid during 6M2025.

Outlook and guidance

• Continues to invest in R&D and flexible production to adapt to market changes and customer needs.

• Committed to ESG improvements, including water and electricity savings, waste reduction, and emission controls.

• Faces ongoing challenges from competition, excess capacity in medical gloves, rising costs, and potential US tariffs.