$ECONBHD / 5253 (ECONPILE HOLDINGS BERHAD)
Research by CGS
Add - TP RM0.61

"Earnings miss, but path to profitability soon"

■ 4QFY6/24 earnings missed expectations, due partly to impact of delays in site possession.
■ Econpile said that it is saving capacity for higher-margin projects and expects its earnings trajectory to improve in FY25F-FY26F.
■ Reiterate Add and TP of RM0.61, based on a 0.5x CY24F PEG.

Analyst:
CHONG Tjen-San, CFA
tjen-san.chong@cgsi.com