ES Sunlogy Berhad (“ES Sunlogy” or the “Company”), an established provider of mechanical and electrical (“M&E”) engineering services as well as generation and sale of renewable energy, today announced its financial results for the third quarter ended 30 April 2025 (“Q3 FY2025”), marking a steady performance in its first full quarter post-Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia on 20 February 2025.
For the quarter under review, the Company recorded revenue of RM75.6 million and a profit before tax (“PBT”) of RM3.4 million. The M&E segment remained the Company’s core revenue driver, contributing RM67.6 million or 89.4% of the Company’s total revenue. Both trading and sale of renewable energy segments contributed RM6.0 million and RM2.0 million respectively. Gross profit stood at RM7.0 million, with profit after tax (“PAT”) at RM2.5 million.
Compared to the preceding quarter (“Q2 FY2025”), ES Sunlogy’s revenue declined by 24.4%, attributed primarily to a lower contribution from the M&E segment due to the timing of project milestones and completion cycles. This resulted in a quarter-on-quarter decrease in PAT. The moderation was expected and is part of the Company’s typical project execution flow.
Despite the temporary slowdown, the Group remains in a strong financial position. As at 30 April 2025, ES Sunlogy recorded total equity of RM107.1 million and an unbilled order book of RM214.1 million, providing healthy earnings visibility into Financial Year 2025 (“FY2025”) and 2026 (“FY2026”). The Group’s post-IPO proceeds have been deployed prudently in line with its intended utilisation and strategic expansion plans.
Managing Director of ES Sunlogy, Mr. Khor Chuan Meng, commented, “We are pleased with our performance this quarter, which reflects the underlying strength of our engineering capabilities and the resilience of our business model. While the quarter saw a temporary moderation in revenue, it was anticipated as part of our project lifecycle. More importantly, our strong unbilled order book and expanding footprint in the renewable energy space signal a promising trajectory ahead. We remain committed to delivering sustainable value to our stakeholders, backed by operational excellence and strategic growth in high-potential sectors.”
Looking ahead, the Group remains optimistic about its prospects in both infrastructure and clean energy sectors. With Class A and G7 contractor accreditations, ES Sunlogy is poised to secure and execute large-scale M&E projects nationwide. In tandem, the Group is actively advancing its renewable energy initiatives, including its ownership in the Junjong Large Scale Solar Photovoltaic (“LSSPV”) Plant and joint venture in the Selarong LSSPV Plant. These strategic moves align with Malaysia’s 40.0% renewable energy target by 2035 under the Corporate Green Power Programme (“CGPP”).
