Hartalega's 2026 Profit Forecast Raised By 12% On Strong World Glove Demand
Hartalega's 2026 Profit Forecast Raised By 12% On Strong World Glove Demand
Analysts believe that the increase in overseas sales volume will also offset the impact from the stronger ringgit.Kenanga Investment Bank Bhd (Kenanga Research) has raised the 2026 net profit forecast for Hartalega Holdings Bhd by 12%, along with the upward revision of the company's target price from RM3.20 to RM3.25, citing strong demand recovery.
肯納財團投資銀行（肯納研究）已將2026年Hartalega Holdings Bhd的淨利潤預測上調12%，並將公司目標價從3.20令吉上調至3.25令吉，稱強勁需求復甦。
Meanwhile, the 2025 forecast remains as analysts factor in appreciating ringgit and higher utilisation rate for the year.
與此同時，2025年的預測保持不變，分析師考慮到馬幣升值和全年利用率較高的因素。
As reported, Hartalega, which has been into glove manufacturing over three-and-a-half decades, has seen more enquiries from its international customers from the US, leading to strong demand recovery into 2026 that exceeds market expectation. In 2025, a lower margin is expected due to the strengthening of the US dollar-to-ringgit foreign exchange (forex) rate, though the effect of ringgit's appreciation is partially offset by a higher utilisation rate.
據報道，Hartalega已從事手套製造業達三年半以上，美國的國際客戶對其提出了更多查詢，導致2026年的強勁需求復甦超過了市場預期。預計2025年由於美元對馬幣的匯率期貨走強，預計較低的利潤率，雖然馬幣升值的影響部分被更高的利用率所抵消。
Analysts believe that the increase in overseas sales volume will also offset the impact from the stronger ringgit.
分析師認爲，境外銷量的增加也將抵消馬幣升值的影響。
The group revealed that the growth momentum will sustain as customers continue to replenish their depleting glove stockpile, thus lifting the utilisation rate, which was 78% in 1QFY2024/251, or mid-year 2024, to 88% and 95% in FY2024/252 and FY2025/263, respectively. The estimated rates of utilisation are against analysts' assumption of 78% and 90% for the stated financial years.
該集團透露，增長勢頭將持續下去，因客戶繼續補充其減少的手套儲備，從而提高利用率。在2024年/251財年第一季度或2024年中，利用率達到了78%，分別爲2024年/252和2025年/263財年中期的88%和95%。預計的利用率水平與分析師對上述財年的78%和90%的假設進行了比較。
The recently announced US import tariffs, including a 100% imposition of taxes on rubber medical and surgical gloves from the Mainland, will take effect in 2025 and 2026.
最近宣佈的美國進口關稅，包括對來自大陸的橡膠醫用和外科手套徵收100%的稅，將於2025年和2026年生效。
Meanwhile, average selling prices (ASP) are expected to inch up gradually, potentially by US$1.00 to US$2.00 per 1,000 pieces to US$22 to
US$23 per 1000 pieces.
與此同時，預計平均銷售價格（ASP）將逐漸上漲，每1000隻手套可能增加1.00至2.00美元，達到每1000隻手套22至23美元。
23美元每1000隻手套。
Kenanga Research has awarded an OUTPERFORM call and has revised upward the target price for Hartalega to RM3.25 from RM3.20.
肯納加研究已經發布了一個看漲的評級，並將哈達利加的目標價從RM3.20上調至RM3.25。
As at 11:42am Oct 10, Hartalega's stock price traded at RM2.90. (Stock updates from Bursa Malaysia)
截至馬來西亞交易所時間10月10日上午11:42，哈達利加的股價爲RM2.90。（股票信息來自馬來西亞交易所）
- 1QFY2024/25 = The first quarter of the financial year to end 31 March 2025, comprising the months of April, May, June of year 2024. ︎
- FY2024/25 = Financial year to end 31 March 2025 (from 1 April 2024 to 31 March 2025) ︎
- FY2025/26 = Financial year to end 31 March 2026 (from 1 April 2025 to 31 March 2026) ︎
- 2024/25財年第一季度 = 截至2025年3月31日的財政年度的第一個季度，包括2024年4月、5月、6月。
- 2024/25財年 = 截至2025年3月31日的財政年度（2024年4月1日至2025年3月31日）
- 2025/26財年 = 截至2026年3月31日的財政年度（2025年4月1日至2026年3月31日）
譯文內容由第三人軟體翻譯。
