ANEKA JARINGAN ANNOUNCES REMARKABLE FINANCIAL PERFORMANCE WITH 428.9% GROWTH IN PAT FOR Q4 FYE2024

Full-Year Revenue Surges to RM211.48 Million as Group Achieves Major Turnaround for FYE2024

KUALA LUMPUR, 28 OCTOBER 2024 – Aneka Jaringan Holdings Berhad ("Aneka Jaringan" or the “Group"; Bursa: ANEKA, 0226), a basement and foundation construction specialist, announced remarkable financial results for the fourth quarter ended 31 August 2024 ("4Q FYE2024"), marking another profitable quarter.

In 4Q FYE2024, Profit After Tax (“PAT”) saw a remarkable 428.9% surge to RM1.87 million as compared to the RM0.35 million in the same quarter last year ("4Q FYE2023"), underscoring a successful turnaround, improved project margins, and disciplined cost control, despite a one-off impairment and write-off on contract assets amounting to RM2.19 million. Gross profit rose slightly to RM7.85 million, a RM0.20 million improvement, thanks to enhanced cost management and project optimisation. The Group also reported a revenue of RM56.63 million in 4Q FYE2024, a 9.9% increase compared to RM51.52 million in 4Q FYE2023.

For the full financial year ended 31 August 2024 ("FY2024"), Aneka Jaringan achieved total revenue of RM211.48 million, representing an 11.3% increase from RM189.93 million in FY2023. The Group’s gross profit more than doubled, reaching RM19.98 million compared to RM9.08 million in the previous year, driven by effective project delivery and enhanced operational efficiencies. Aneka Jaringan recorded a PAT of RM4.35 million, a significant turnaround from a loss after tax of RM12.43 million in FY2023.

Aneka Jaringan further strengthened its order book with major project wins. These include a RM12.9 million contract from Totalbuildz Sdn. Bhd. for the Hanaz @ Jalan Mayang project, covering earthworks, piling, pile cap, and sub-structure works. Additionally, the Group secured a RM53.0 million contract from Grand Dynamic Builders Sdn. Bhd. for the construction of a new logistic hub in Shah Alam. As of 31 August 2024, the Group’s order book stands at RM240.08 million, setting a strong foundation for sustained growth into the next financial year.

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Managing Director of Aneka Jaringan, Pang Tse Fui commented, “We are very pleased with our financial performance for both the fourth quarter and the full financial year ended 31 August 2024, reflecting our commitment to delivering results even in challenging market conditions. Our significant improvement in profit margins, combined with strategic contract wins, demonstrates the resilience of our business model and operational strengths. Moving into the next financial year, we will focus on leveraging our strong order book while managing potential material cost fluctuations. Our commitment to creating sustainable value for our stakeholders remains unwavering.”

Looking ahead, the Group remains optimistic about the prospects for FY2025, with plans to actively bid for high-value contracts to replenish its order book and maintain a healthy project pipeline. The management is closely monitoring domestic and international developments, particularly fluctuations in material prices, and will take necessary actions to mitigate potential risks.