Global Healthcare Analyst

Tina Banerjee

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare companies. I have been helping investors to find future winners in healthcare space to grow their wealth by focusing on the strength and potential of the business models of the companies. My initiating coverage reports and pitch help investors to know ‘what to buy’, ‘why to buy’, and ‘when to buy’. My clients always remain on top of the sector with the help of my timely and detailed notes on earnings or any news update. I also provide broader view on the entire healthcare sector through periodic thematic reports.

Top Glove Corp (TOPG MK): Competitive Pricing Alongside Cost Control Drive Sales and Margins

Top Glove Corp (TOPG MK): Recovery Continues, ASP Improves, Demand Outlook Stays Strong

Top Glove Corp (TOPG MK): Break-Even Achieved in 1QFY25, Strong Demand to Persist in Coming Quarters

Top Glove Corp (TOPG MK): Volumes Rise as Demand Revival Cycle On; US to Be the Key Market

Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/top-glove-corp-bhd" target="_blank" data-smartkarma-citation="entities:20759:1" rel="noopener">Top Glove Corp (TOPG MK)</a> revenue grew 30% YoY to RM 830M in 3QFY25. Revenue dropped 6% QoQ despite sales volume increasing 4%, due to lower ASP and weaker USD.</li>
<li>The revenue in Europe (contributes 37% of total revenue) softened further in 3QFY25 due to heightened competition. North America region (26% of revenue) witnessed 24% QoQ sales growth in 3QFY25.</li>
<li>Decline in raw material prices in 3QFY25 coupled with competitive pressure led to the ASPs being adjusted downwards.</li>
</ul>



Top Glove Corp (TOPG MK) revenue grew 30% YoY to RM 830M in 3QFY25. Revenue dropped 6% QoQ despite sales volume increasing 4%, due to lower ASP and weaker USD.
The revenue in Europe (contributes 37% of total revenue) softened further in 3QFY25 due to heightened competition. North America region (26% of revenue) witnessed 24% QoQ sales growth in 3QFY25.
Decline in raw material prices in 3QFY25 coupled with competitive pressure led to the ASPs being adjusted downwards.


Top Glove Corp (TOPG MK): Competition in Europe Along With ASP Softness to Remain a Concern