KUALA LUMPUR, Feb 3 — Research houses remain upbeat on Westports Holdings Bhd following the port operator’s record performance in its financial year ended December 31, 2025 (FY2025).
CIMB Securities Sdn Bhd said Westports’ core net profit in FY2025, which surpassed RM1 billion, came in slightly above expectations, supported by higher port tariffs and lower operating costs.
“Westports delivered a record performance in FY2025, with core net profit rising 12.7 per cent year-on-year to RM1.01 billion, supported by higher revenue contributions across its container, conventional, rental and marine services segments,” it said.
The research house also said earnings visibility into FY2026 remained firm, supported by the second phase of tariff hikes and stable container throughput.
Meanwhile, Maybank Investment Bank Bhd said Westports’ FY2025 earnings were broadly in line with expectations, meeting 103 per cent of its estimates and 101 per cent of market consensus forecasts, supported by resilient transhipment volumes.
“We remain positive on Westports’ outlook, supported by resilient volumes and tariff-led earnings uplift,” it said.
Similarly, RHB Research opined that Westports’ outlook remained stable, backed by steady throughput growth and further support from tariff increases in January 2026.
“With inbound waste headwinds largely reflected, both the gateway and transhipment segments are expected to grow in tandem this year,” it said.
Hong Leong Investment Bank Bhd said the port operator’s results were within expectations.
“Management expects low single-digit growth in container throughput in 2026 after achieving growth of 3.4 per cent in 2025, driven by a 7.4 per cent increase in transshipment volumes, partially offset by a 1.6 per cent decline in gateway cargo,” it said.
Accordingly, CIMB Securities set Westports’ target price at RM6.70, while Maybank Investment Bank, RHB Research and Hong Leong Investment Bank pegged it at RM6.74, RM6.89 and RM6.55, respectively.
