EPMB Overcomes Challenges with Strong Q4 and New Partnerships

EP Manufacturing Berhad (EPMB) wrapped up a solid financial year, driven by its expansion into the car seat manufacturing segment.

Key to this is a new partnership with Jujin China, which sees EPMB now supplying seats for various Proton models, with potential opportunities to work with Geely in the future.

In 2024, the company recorded a nett profit of RM18.96 million, slightly lower than the RM20.36 million posted in 2023 - a 6.9% dip. Revenue also declined by 9% year-on-year to RM594.71 million.

Despite the overall drop, EPMB had a strong Q4, with net profit jumping more than threefold to RM9.60 million. This was largely driven by lower tax provisions and deferred tax income.

However, quarterly revenue still fell 28% to RM145.34 million due to reduced tooling reimbursements and lower sales of automotive parts and components.

Executive Chairman Hamidon Abdullah remains optimistic about the company’s future, highlighting its ability to adapt and stay competitive in an evolving industry. He also reaffirmed EPMB’s commitment to moving up the value chain, particularly in vehicle assembly.

Currently, EPMB is assembling the Haval H6 HEV for GWM in its Pegoh Plant, Melaka, catering to both local and export markets. The partnership is set to grow in 2025, with two new models joining the lineup - the GWM Jolion crossover, set to launch in Q2l, and the GWM WEY 80 MPV in Q4, both for local and ASEAN markets.

EPMB is also expanding its partnership with BAIC under a 10-year agreement signed in 2024. Two BAIC models - the BJ40 Plus 4x4 SUV and the X55 crossover - are expected to enter the Malaysian market by Q2 2025.

With more Chinese automakers making their way into the region and demand across ASEAN on the rise, EPMB is gearing up to strengthen its presence in the regional export market. The company remains focused on forming long-term strategic partnerships that align with its growth ambitions.

Adding to this momentum, EPMB has signed a joint venture with Sanly China to localise the production for the soon-to-be-launched Proton Saga MC3’s front corner modules, sub-frame modules, and rear axle assemblies.

All these initiatives are expected to positively impact earnings in the coming year.

Moving forward, EPMB is focused on improving supply chain efficiency and increasing local content while ensuring compliance with regulatory standards. With a strong foundation in place, the company is well-positioned to navigate industry shifts while driving long-term growth.