Wasco Greenergy Bhd posted a 28.2% year-on-year increase in profit after tax (PAT) to RM3.9 million for the second quarter ended June 30, 2026 (2Q26), despite softer revenue, as improved margins and stronger operational execution supported profitability.
Quarterly revenue eased to RM60.7 million from RM64.7 million a year earlier, mainly due to the timing of engineering, procurement, construction and commissioning activities, partly offset by higher steam turbine deliveries and after-sales services.
For the first half of FY26, revenue stood at RM115.1 million compared to RM126.2 million previously, while PAT remained broadly stable at RM7.9 million.
The Renewable Energy segment remained the group’s main revenue contributor with RM53.1 million in 2QFY26 revenue. Wasco Greenergy delivered 19 steam turbine units during the quarter, up from 15 a year earlier, while after-sales services accounted for about one-third of segment revenue.
Its latest order book stood at RM220.7 million, with RM133.3 million expected to be recognised in FY26 and the remaining RM87.4 million in FY27, providing earnings visibility for the coming quarters. The group also remained in a net cash position with RM114.3 million in cash as at June 30.
Managing Director Wong Yin Kee said the group will continue expanding in Malaysia and Indonesia while pursuing opportunities across the palm oil and process industries, supported by technology enhancement, digitalisation and selective Build-Own-Operate projects.
The board also declared an interim single-tier dividend of one sen per share, payable on Oct 7, 2026, with an entitlement date of Sept 21.
