IJM releases financial results for period ended 30 September 2025

November 28, 2025 -- Key highlights:

• 1H FY2026 Group revenue grew 16.7% y-on-y to RM3.41 billion, driven by Construction and Industry divisions
• Construction revenue increased 54.1%, reflecting positive momentum from civil, industrial and data centre projects; outstanding order book stands at a record RM14.4 billion
• Property unbilled sales steady at RM1.59 billion
• Strong cash reserves and net gearing ratio of 0.40 times provide resilience and capacity to undertake large-scale projects
• Interim dividend of 2 sen maintained

IJM Corporation Berhad (“IJM” or “The Group”) today released its financial results for the first half ended 30 September 2025 (1H FY2026).

Group Financial Performance

Group revenue for 1H FY2026 increased 16.7% to RM3,407.6 million, mainly from higher contributions from the Construction and Industry divisions. Group profit after tax and minority interest saw a modest increase of 0.2% to RM161.4 million, compared with RM161.1 million in the corresponding period last year, reflecting the stronger performance by the Construction and Industry divisions but lower contributions from the Property Development and Port divisions, as well as unrealised foreign exchange losses during the period.

For the period, the Group’s Construction Division recorded revenue of RM1,793.9 million, a 54.1% increase, supported by higher construction activities across ongoing civil engineering and industrial and data centre projects. The improved revenue and a higher share of profit from joint ventures led to an increase in pre-tax profits by 37.4% to RM71.9 million.

Property Division reported a decrease in revenue and PBT in the period to RM570.1 million and RM34.3 million respectively, due to lower sales and profit contribution from associates and joint ventures.

In 1H FY2026, Industry Division saw an increase in revenue of 16.2% to RM621.7 million, on the back of higher deliveries of piles and ready-mixed concrete. Correspondingly, pre-tax profit improved 16.3% to RM106.8 million.

IJM’s Toll Division reported a 6.7% decrease in revenue in 1H FY2026 as a result of the expiry of an overseas toll concession in July 2024. However, profit before tax increased by 127.0% to RM30.6 million arising from higher contributions from local tollways and the Group’s Argentinian associate in the period.

The Group’s Port Division recorded a 17.4% decrease in revenue to RM197.8 million in 1H FY2026 mainly due to lower cargo throughput arising from a key customer undertaking major maintenance. As a result, Port pre-tax profits for 1H FY2026 decreased to RM46.2 million. 

IJM continues to have ample liquidity and a healthy net gearing ratio of 0.40 times, providing the Group with sufficient capacity to undertake complex, large-scale projects.

Prospects for the Near Term

On the Group’s prospects, Dato’ Lee Chun Fai, Group CEO & Managing Director of IJM, said: “Post the reported period, the Group secured a data-centre contract worth RM2.1 billion, marking its largest data-centre project to-date. This milestone reinforces market confidence in our delivery capability and execution strength. With our established credentials and growing track record with leading hyperscale operators, IJM is well-positioned to capture further opportunities from the robust data centre infrastructure developments in Malaysia.”

The Group’s Construction outstanding order book stands at a record high RM14.4 billion, including RM5.3 billion in two newly secured large-scale data centre developments in Pulai, Johor, and Elmina Business Park, Selangor, as well as the New Pantai Expressway Extension (NPE2).

The Property Division remains steadfast in sustaining its business through product differentiation to align with evolving buyer expectations and affordability thresholds. The division is expected to maintain a satisfactory performance in the current financial year on the back of its unbilled sales of RM1.59 billion.

The Industry Division is expected to maintain its strong performance given its healthy order book position by leveraging on the continued roll-out of new data centres and large-scale infrastructure jobs.

Toll operations will contribute recurrent cashflows from its existing mature concessions, while NPE 2 is expected to support the division’s long-term earnings profile. The Port Division anticipates a softer outlook this year amid global trade uncertainties and subdued steel demand, which spurred a key customer to undertake major maintenance of its plant during the financial year.

Following the results, IJM declared a single-tier interim dividend of 2.0 sen per share.

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About IJM Corporation Berhad

IJM Corporation Berhad (“IJM”), formed in 1983, today ranks as one of Malaysia’s leading conglomerates with an international footprint forged by its four core businesses: construction, property development, industry (quarrying and the manufacture of building materials) and infrastructure concessions. IJM holds leading positions across all its business divisions. Its growth is the direct result of strong leadership, dedicated employees, financial prudence and commitment to good governance and quality.

The Group presently has a market capitalisation of around RM9.01 billion and as of September 2025, the Group employed around 3,500 employees and had total assets of RM22.1 billion.

For more information, visit www.ijm.com

For media enquiries, please contact:

Ms. Mandy Chen, Corporate Communications, at [email protected] or + 60 12 607 6121

Mr. Shane Guha Thakurta, Investor Relations, at [email protected] or + 60 3 7985 8041

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