[%PwXt%] 
Research by CGS
Add  – TP of MYR 0.61

“9MFY24 miss; FY25F outlook intact” 

Econpile reported a 9MFY6/24 core net loss of RM17.4m which was below expectations. FY6/24 YTD has been challenging for the company with continued margin pressures and construction cost overruns in 1H24. On a positive note, the company posted a gross profit of RM3.6m in 3Q24, and we expect losses to further narrow in the 4Q24. The company’s cash conversion cycle has also improved to 261 days (FY23: 273) YTD.

Analyst(s):
CHONG Tjen-San, CFA
[%VwwK%]
Jeremy MOK
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$KLSE-ECONBHD 
Research by CGS
Add  – TP of MYR 0.61

“9MFY24 miss; FY25F outlook intact” 

Econpile reported a 9MFY6/24 core net loss of RM17.4m which was below expectations. FY6/24 YTD has been challenging for the company with continued margin pressures and construction cost overruns in 1H24. On a positive note, the company posted a gross profit of RM3.6m in 3Q24, and we expect losses to further narrow in the 4Q24. The company’s cash conversion cycle has also improved to 261 days (FY23: 273) YTD.

Analyst(s):
CHONG Tjen-San, CFA
tjen-san.chong@cgsi.com
Jeremy MOK
jeremy.mok@cgsi.com

$ECONBHD / 5253 (ECONPILE HOLDINGS BERHAD)