From GlobeNewswire: 2025-05-13 11:44:00

VCI Global Limited (NASDAQ: VCIG) reported record-high revenue of US$27.8 million for fiscal year 2024, a 41% YoY increase. Gross profit rose 39% to US$22.9 million, with technology revenue up 155%. The carve-out IPO of V Capital Consulting Group Limited is underway, and office expansion into Singapore and Hong Kong is planned.

VCI Global is focusing on a cross-sector platform strategy, integrating AI, Cybersecurity-as-a-Service (CSaaS), fintech, renewable energy, and capital markets. Key milestones for 2025 include the public listing of VCCG and expansion of AIaaS and CSaaS through V Gallant. Solar energy initiatives are also planned to support the digital economy.

Financial results for fiscal year 2024 show revenue of US$27.8 million, a 41% increase from 2023. Revenue from technology development increased by 155% to US$11.4 million, driven by new projects. Interest income grew 194% to US$1.2 million, and revenue from other services increased by over 52% to US$373,000.

VCI Global reported an EBITDA of US$8.3 million in fiscal year 2024, a 30% margin of revenue, and a net income of US$7.6 million. Employee benefit expenses increased to US$6.8 million, and operating income rose to US$7.7 million. Basic and diluted earnings per share were US$54.74 for 2024.

Net cash generated from operating activities in fiscal year 2024 was US$22.3 million, compared to US$1.2 million in 2023. Net cash used in investing activities was US$48.6 million, with net cash generated from financing activities at US$34.5 million. Cash and cash equivalents were US$8.1 million as of December 31, 2024, a 702% increase from 2023.



Read more at GlobeNewswire:: VCI Global Reports Explosive Growth Across AI, Technology,