KUALA LUMPUR, MALAYSIA / ACCESS Newswire / February 27, 2025 / AIZO Group Berhad ("AIZO" or the "Company"), formerly known as Minetech Resources Berhad has announced its financial results for the third quarter ended 31 December 2024 ("Q3 FY2025"). The Company recorded revenue of RM30.82 million, compared to RM34.95 million in the same quarter of the previous year ("Q3 FY2024"). The performance reflects the Company's continued focus on operational efficiency amid evolving industry conditions.
In Q3 FY2025, AIZO's gross profit rose to RM4.69 million compared to RM4.21 million in Q3 FY2024, driven by improved margins across key operating segments. The Civil Engineering division remained the largest revenue contributor, generating RM21.54 million, supported by efficient project execution and ongoing developments. The Bituminous Products segment recorded RM7.72 million in revenue, reflecting strong demand and the expansion of raw bitumen trading. Meanwhile, the Energy segment continued its upward trajectory with revenue of RM1.54 million, supported by higher plant availability and growing contributions from renewable energy operations.
Quarter-on-quarter, AIZO recorded a 9.9% revenue increase from Q2 FY2025, underscoring the Company's consistent growth. Civil Engineering revenue rose by 9% as newly awarded projects commenced, while Bituminous Products revenue increased by 11% due to higher demand and an expanded trading portfolio. The Energy segment recorded a significant 25% revenue growth, benefiting from operational enhancements and improved plant performance. AIZO also recorded an adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation ("EBITDA ") of RM1 million, reinforcing its focus on efficiency and profitability.
En. Ahmad Rahizal Bin Dato' Ahmad Rasidi, Executive Director of AIZO
En. Ahmad Rahizal Bin Dato' Ahmad Rasidi, the Executive Director of AIZO commented, "Our continued revenue growth reflects the strength of our core businesses and our ability to adapt to evolving industry trends. We remain committed to expanding our presence in infrastructure and renewable energy, ensuring long-term value creation for our stakeholders. The 99.99 MW LSS project in Kampar is a major milestone in our clean energy strategy, positioning AIZO as a key player in Malaysia's renewable energy sector."
The Company's order book now stands at RM203.3 million, with recent contract wins further strengthening its future revenue pipeline. AIZO continues to expand its renewable energy portfolio and recently received a Letter of Notification from the Energy Commission for the development of a 99.99 MW Large Scale Solar (LSS) plant in Kampar, Perak. This project marks a significant milestone in AIZO's clean energy ambitions and reinforces its role in Malaysia's renewable energy transition.
Looking ahead, AIZO remains focused on business expansion, operational efficiency, and sustainable growth. With a strong order book and a solid foothold in high-growth industries, the Company is well-positioned to drive future success and create long-term value for shareholders.
As at 5:00 P.M. on 25 February 2025, the share price of AIZO Group Berhad closed at RM0.085, reflecting a market capitalisation of RM164.9 million.
ABOUT AIZO GROUP BERHAD
AIZO Group Berhad ("AIZO" or the "Company"), formerly known as Minetech Resources Berhad is primarily a civil engineering specialist and bituminous products manufacturer that has diversified into renewable energy, as well as oil and gas services. The Company is a registered solar photovoltaic investor with the Sustainable Energy Development Authority Malaysia and owns a 9.99MW AC floating solar power plant.
For more information, visit https://aizo.com.my/
Swan Consultancy Sdn. Bhd. on behalf of AIZO Group Berhad (formerly known as Minetech Resources Berhad)
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
Stephanie Chow
Email: s.chow@swanconsultancy.biz
SOURCE: AIZO Group Berhad
View the original press release on ACCESS Newswire
