Gamuda Records 49% Surge in Full Year Domestic Construction Earnings

Gamuda Berhad saw its full year domestic construction earnings surge by 49% to RM461 million. Including its overseas projects, the overall construction earnings rose 19% to RM742 million, with domestic projects now the main growth engine, driven substantially by the data centre segment.

This brought the Group to break its full year earnings record for the fi fth consecutive year as net profi t rose 5% to RM1,052 million, and group revenue rose 14% to an all-time high RM18.6 billion and construction orderbook reached an unprecedented RM61 billion.

In terms of the fourth quarter (May 2026 - July 2026) - the Group’s overall net profi t rose 5% to RM350 million, and its revenue grew 19% to RM5.8 billion.

The property division’s quarterly revenue and net profi t decreased 14% and 41% respectively due to slower sales conversion across Malaysia townships.

Net gearing stood at 72% at end-July 2026, temporarily above the Group's self-imposed 70% limit following land acquisitions in Vietnam and Singapore earlier this year to replenish its quick-turnaround projects (QTP) portfolio.

The Group's continued ability to generate operating cashfl ow to fund its capex is evidenced by the near RM800 million surplus cash generated from its operating activities during the year. Gamuda expects gearing to reduce from next year onwards as cash infl ows from its record construction orderbook and RM7.6 billion of unbilled property sales, especially the nearly sold-out Eaton Park project in Vietnam, where, by Vietnamese law, developers can collect up to 50% of the sales value during construction, with the remaining 50% received as a bullet payment upon handover.

Gamuda Berhad saw its full year domestic construction earnings surge by 49% to RM461 million. Including its overseas projects, the overall construction earnings rose 19% to RM742 million, with domestic projects now the main growth engine, driven substantially by the data centre segment.

This brought the Group to break its full year earnings record for the fi fth consecutive year as net profi t rose 5% to RM1,052 million, and group revenue rose 14% to an all-time high RM18.6 billion and construction orderbook reached an unprecedented RM61 billion.

In terms of the fourth quarter (May 2026 - July 2026) - the Group’s overall net profi t rose 5% to RM350 million, and its revenue grew 19% to RM5.8 billion.

The property division’s quarterly revenue and net profi t decreased 14% and 41% respectively due to slower sales conversion across Malaysia townships.

Net gearing stood at 72% at end-July 2026, temporarily above the Group's self-imposed 70% limit following land acquisitions in Vietnam and Singapore earlier this year to replenish its quick-turnaround projects (QTP) portfolio.

The Group's continued ability to generate operating cashfl ow to fund its capex is evidenced by the near RM800 million surplus cash generated from its operating activities during the year. Gamuda expects gearing to reduce from next year onwards as cash infl ows from its record construction orderbook and RM7.6 billion of unbilled property sales, especially the nearly sold-out Eaton Park project in Vietnam, where, by Vietnamese law, developers can collect up to 50% of the sales value during construction, with the remaining 50% received as a bullet payment upon handover.

Gamuda Berhad saw its full year domestic construction earnings surge by 49% to RM461 million. Including its overseas projects, the overall construction earnings rose 19% to RM742 million, with domestic projects now the main growth engine, driven substantially by the data centre segment.

This brought the Group to break its full year earnings record for the fi fth consecutive year as net profi t rose 5% to RM1,052 million, and group revenue rose 14% to an all-time high RM18.6 billion and construction orderbook reached an unprecedented RM61 billion.

In terms of the fourth quarter (May 2026 - July 2026) - the Group’s overall net profi t rose 5% to RM350 million, and its revenue grew 19% to RM5.8 billion.

The property division’s quarterly revenue and net profi t decreased 14% and 41% respectively due to slower sales conversion across Malaysia townships.

Net gearing stood at 72% at end-July 2026, temporarily above the Group's self-imposed 70% limit following land acquisitions in Vietnam and Singapore earlier this year to replenish its quick-turnaround projects (QTP) portfolio.

The Group's continued ability to generate operating cashfl ow to fund its capex is evidenced by the near RM800 million surplus cash generated from its operating activities during the year. Gamuda expects gearing to reduce from next year onwards as cash infl ows from its record construction orderbook and RM7.6 billion of unbilled property sales, especially the nearly sold-out Eaton Park project in Vietnam, where, by Vietnamese law, developers can collect up to 50% of the sales value during construction, with the remaining 50% received as a bullet payment upon handover.

Gamuda Engineering Pty Ltd Australia (GE Australia), an indirect wholly-owned subsidiary of Gamuda Berhad, together with its joint venture partner B.M.D Constructions Pty Limited (BMD), has been awarded the Elizabeth Drive Upgrade – Mamre Road Upgrade Stage 2 project by Transport for New South Wales (TfNSW). The Project value is approximately AUD2 billion, jointly funded by the Australian and New South Wales Governments, of which the Contract Value is AUD624 million (approximately RM1.8 billion), in which GE Australia and BMD each hold a 50:50 equity stake. The project comprises design and construction of civil and structural works to upgrade 4.5km along Elizabeth Drive and 3km along Mamre Road at Kemps Creek in Western Sydney, together with utility relocation works. Works are targeted for completion by 2030. “This award is particularly meaningful for Gamuda as it further strengthens our partnership with Transport for NSW, following our successful collaborations at Raymond Terrace and Coffs Harbour. It also deepens Gamuda’s presence in Western Sydney. Together with our Sydney Metro West work, we are helping deliver the infrastructure that will support the continued growth and transformation of Western Sydney — improving connectivity, creating jobs and opportunities, and delivering lasting benefits for the communities who live and work there,” said Ewan Yee, Chief Executive Officer of GE Australia. This latest win adds to a growing portfolio of road projects delivered or currently underway by Gamuda across New South Wales:

• M1 Pacific Motorway Extension to Raymond Terrace: Black Hill to Tomago, completed ahead of schedule by the John Holland Gamuda Joint Venture.
• Coffs Harbour Bypass, currently under delivery.
• Richmond Road M7 Upgrade.

For Gamuda, the Elizabeth Drive Upgrade – Mamre Road Upgrade Stage 2 award reinforces Australia as the Group’s largest overseas base and a primary growth engine for its regional diversification strategy. It also demonstrates the value of Gamuda’s multi-disciplinary approach, while further deepening GE Australia’s design and construction capability in the road sector. Rendered image of the Elizabeth Drive Upgrade – Mamre Road Upgrade Stage 2 project.