Solarvest executive director and group chief executive officer Davis Chong Chun Shiong
KUALA LUMPUR: Clean energy expert Solarvest Holdings Bhd
anticipates a stronger financial performance in the upcoming quarter as it works towards achieving its target profit gains.
“We are confident in materialising our order book of RM877mil in financial years ending March 31, 2025 and 2026, and to convert the expanded tenderbook recorded at 7.7GWp2 to date.
“As a bidding advisory, we are in a strong position to grow our order book with the large scale solar (LSS) 5 engineering, procurement, construction and commissioning (EPCC) opportunities and the upcoming LSS5+ bidding round,” executive director and group chief executive officer Davis Chong Chun Shiong said in a statement.
Chong said the group was well-positioned to capture opportunities in the high-growth battery energy storage systems (BESS) market, supported by declining costs and favourable policies.
He noted that the BESS programme was expected to contribute 400-megawatt (MW) and 1,600-megawatt-hour (MWh) of storage capacity.
“The 14% electricity tariff hike in July and rising business electricity rates further enhance the commercial viability for the projects like Corporate Renewable Energy Supply Scheme (CRESS), especially in the second half of 2025.”
“We look forward to capitalising on the growing momentum, including the major initiatives such as LSS6 in 2Q25, the new BESS bidding round in Q3 2025,” Chong said.
In the third quarter ended Dec 31 (3Q25), Solarvest’s net profit jumped 35% to RM14.4mil compared with RM10.6mil in the year-ago quarter.
Revenue for the quarter rose 20.4% to RM135.4mil against RM112.4mil last year while earnings per share climbed to 2.01 sen from 1.59 sen previously.
For the nine months period ended Dec 31, Solarvest achieved a record net profit of RM31.4mil, up 28% from RM24.5mil in the prior year’s corresponding period (9MFY24).
Although revenue declined to RM312mil in 9MFY25 from RM395.7mil in 9MFY24, Solarvest’s net profit margin improved from 6.2% to 10.1%.
This was driven by higher profitability in the commercial and industrial (C&I) segment, lower solar panel prices, and electricity sales from the group’s three LSS 4 plants.
“Speaking of asset ownership, our Powervest programme has secured multiple corporate power purchase agreements (PPAs) with a total capacity of 117 MWp.
“Upon full completion within the next 12 to 18 months, these agreements are expected to generate RM47.9mil in annual recurrent revenue. On top of LSS4 and LSS5 assets, the expanding Powervest programme will enhance our recurring income stream and provide a stable, long-term revenue base that supports our growth strategy,” Chong said.
