Cyberjaya, 21 May 2026 – Dagang NeXchange Berhad (“DNeX” or “the Group”) today announced its financial results for the first quarter ended 31 March 2026 (“1QFY2026”), returning to profitability on the back of stronger operating performance across its core segments.
The Group recorded a Profit After Tax (“PAT”) of RM13.5 million in 1QFY2026, compared to a net loss of RM91.9 million in the corresponding quarter last year (“1QFY2025”). Profit attributable to owners of the Company stood at RM12.8 million, compared with a loss of RM79.0 million previously. Excluding foreign currency translation effects, Group Profit Before Tax (“PBT”) increased to RM31.1 million (1QFY2025: RM20.9 million).
Group Earnings Before Interest, Taxes, Depreciation, and Amortisation (“EBITDA”) expanded 20% year-on-year (“YoY”) to RM81.6 million (1QFY2025: RM67.9 million), reflecting improved product mix in Semiconductor segment, elevated crude oil prices in Energy segment, and continued cost discipline across the Group.
Group revenue moderated to RM267.6 million from RM296.8 million in 1QFY2025, primarily reflecting the translation effect of a stronger Ringgit against the US Dollar and Pound Sterling on the Group’s cross-border businesses. Excluding the effect of currency translation, Group revenue declined by approximately 2% YoY.
Segmental Performance 1QFY2026
Semiconductor
The Semiconductor segment posted revenue of RM155.1 million (1QFY2025: RM178.7 million), a decline mainly attributed to currency translation. Excluding currency impact, revenue was marginally lower by 3% YoY. While wafer shipments softened to 45,000 units (1QFY2025: 63,000 units), this was substantially cushioned by a 37% surge in the average selling price (“ASP”) to USD805 per wafer (1QFY2025: USD589), supported by a higher contribution from high-value Emerging Technology products, which accounted for 55% of segment revenue (1QFY2025: 38%).
The segment returned to profit with a PBT of RM0.9 million, compared to a Loss Before Tax (“LBT”) of RM10.2 million in 1QFY2025, driven by the improved product mix and continuous costs optimisation initiatives.
Energy
The Energy segment recorded revenue of RM75.6 million (1QFY2025: RM78.8 million), primarily affected by the translation effect arising from a stronger Ringgit. Excluding currency movements, segment revenue grew 5% YoY with a 23% rise in the average lifted crude oil price to USD91.3 per barrel (1QFY2025: USD74.3 per barrel), mitigating a 15% decline in lifting volumes to 148,000 barrels.
Segment PBT was RM11.1 million (1QFY2025: RM25.4 million), mainly due to a RM6.8 million foreign currency translation loss in the current quarter compared to RM7.8 million foreign currency translation gain a year ago. Excluding these currency impact, the underlying PBT was broadly stable at RM17.9 million (1QFY2025: RM17.6 million).
Information Technology (“IT”)
The IT segment posted revenue of RM36.8 million, representing a 6% YoY decline following the completion of a major project in the preceding quarter. Notwithstanding the lower headline revenue, segment PBT grew 12% to RM16.7 million (1QFY2025: RM14.9 million), benefiting from healthier margin contribution from ongoing business activities. The segment continues to be anchored by long-term contracts, which provide recurring revenue visibility.
Balance Sheet Strength
As at 31 March 2026, DNeX maintains a healthy balance sheet, with total cash balances of RM574.7 million, total assets of RM3.5 billion, and total equity of RM1.7 billion. Borrowings stood at RM146.0 million, keeping the Group in a net cash position. This provides financial flexibility and significant headroom to fund the Group’s strategic capital allocation across its three operating segments.
Management Commentary
Vinie Chong Pui Ling, Group Chief Operating Officer (“GCOO”) and Group Chief Financial Officer (“GCFO”) of DNeX, said “Our 1QFY2026 results mark a strong turnaround to profitability for the Group. Despite foreign currency translation movements weighing on reported topline performance, the resilience in profitability across all operating segments was underpinned by improved operational execution, stronger margin performance, prudent financial discipline, and the progressive contributions from restructuring and optimisation initiatives implemented in prior periods.”
The Group’s Semiconductor segment continues to benefit from long-term structural demand driven by artificial intelligence (“AI”), high-performance computing, automotive electronics and data centre applications. While near-term market conditions remain influenced by macroeconomic and geopolitical uncertainties, the Group remains focused on strengthening operational excellence, advancing manufacturing capabilities, expanding market reach and maintaining prudent cost management to capture sustainable growth opportunities across the semiconductor value chain.
The Group’s Energy segment remains resilient, with continued focus on maximising value from the producing Anasuria Cluster, progressing towards first oil from the Abu Cluster reactivation in Malaysia, and advancing its longer-term development assets. Amid ongoing crude oil price volatility and geopolitical uncertainties, the Group continues to prioritise disciplined risk management, financial resilience and operational agility to support sustainable long-term growth.
The Group’s IT segment remains well-positioned to benefit from accelerating digital transformation initiatives across both the public and private sectors, supported by growing demand for AI, cloud and digital infrastructure solutions. The Group continues to strengthen its capabilities in AI solutions, digital transformation and mission-critical systems through innovation, strategic partnerships and operational excellence, while maintaining disciplined execution to capture emerging opportunities arising from national digitalisation initiatives and increasing enterprise technology adoption.
“While the Group has returned to profitability this quarter, we remain focused on strengthening the operational and financial fundamentals across all business segments to ensure sustainable long-term growth. As we navigate an evolving operating environment shaped by macroeconomic, geopolitical and market uncertainties, we will continue to prioritise disciplined execution, financial resilience and strategic investments to capture opportunities across the semiconductor, energy and IT sectors,” Chong added.