Pekat Group Berhad has announced a remarkable financial year 2024 ended 31 December 2024 (FY24). Revenue of the Group increased by 28% year-on-year (YoY), from RM227.5 million for financial year ended 31 December 2023 (FY23) to RM291.1 million for FY24 while profit after tax (PAT) rose by a whopping 65.5% YoY, from RM13.8 million to RM22.8 million.
This growth reflects a strong performance across all business segments. As of 31 December 2024, the Group’s order book stands at RM493.6 million, reinforcing its market leadership in solar PV, earthing & lightning protection (ELP), trading, and power distribution.
Robust Growth Across Core Segments in Q4 FY2024
In Q4 FY2024, Pekat recorded strong revenue growth, driven by increased project execution and demand across various sectors:
🔹 Solar PV – The Key Growth Driver
- Revenue surged 41.4% YoY to RM54.6 million, fueled by accelerating solar PV installations in commercial, industrial, and residential markets.
🔹 Earthing & Lightning Protection (ELP) – Powered by Data Centre Demand
- ELP revenue soared 70.0% YoY to RM14.7 million, driven by increased adoption in the rapidly expanding data centre sector.
🔹 Trading – Strong Product Demand
- The trading division posted a 36.9% revenue growth to RM15.1 million, reflecting higher sales of premium engineering solutions.
🔹 Power Distribution – EPE Switchgear’s Contribution
- The newly acquired EPE Switchgear contributed RM9.9 million in revenue during the quarter, reinforcing Pekat’s expansion into the power distribution segment.
New Contract Wins Strengthen Future Outlook
As of 25 February 2025, Pekat’s outstanding order book has grown to RM590.9 million. And the Group’s share price hit a new record high at RM1.25 as at 26 February 2025, following better-than-expected results and significant contract wins.
Among its latest achievements, EPE Switchgear secured a RM97.3 million contract from Tenaga Nasional Berhad (TNB) for the supply of 11kV Single Busbar Circuit Breakers (SCADA-Ready Type) for TNB’s distribution network.
Positioned for Continued Growth
Pekat Group’s strong financial performance, diversified business model, and expanding order book position it well for sustained growth in Malaysia’s solar energy and infrastructure sector. With continued investments in solar energy, grid solutions, and engineering excellence, the Group remains committed to delivering value to its stakeholders while driving a sustainable future.
