YTL Corp's 9-Month Profit Before Tax Soars 162% to RM1.4 Billion (US$315 Million)

Kuala Lumpur, Thursday 26 May 2022

YTL Corporation Berhad's revenue climbed by 39.2% to RM18,086.9 million (US$4,120.0 mn) for the 9 months ended 31 March 2022 as compared to RM12,990.3 million (US$2,959.1 mn) for the previous corresponding 9 months ended 31 March 2021. 

Profit before tax increased significantly by 162.1% to RM1,384.9 million (US$315.5 mn) for the current period under review compared to RM528.4 million (US$120.4 mn) for the same period last year, with profit after tax growing 370.1% to RM1,070.0 million (US$243.7 mn) this year over RM227.6 million (US$51.8 mn) last year.

YTL Corp Executive Chairman, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, "The Group saw significantly better results for the 9 months ended 31 March 2022, with the essential services provided by our cornerstone utilities segment remaining foundational to the success of our Group. 

"Our construction and cement segments continued to rally in line with the phased reopening of economic sectors as the country moves towards endemic management of the pandemic, which has seen more favourable demand on the back of the revival and acceleration of major infrastructure and affordable housing projects.

"The property segment recorded better performance due to better sales and a higher share of profits from the Group's investment in Starhill Global REIT in Singapore, whilst our hotels division continued to improve following the easing of movement restrictions in the UK and Malaysia.

"Meanwhile, EBITDA (earnings before interest, tax, depreciation and amortisation) remained strong, registering a 26% increase to RM3.9 billion (US$890.5 mn) for the current period compared to RM3.1 billion (US$704.0 mn) for the same period last year."

Comparison with Preceding Year Corresponding Period

YTL POWER INTERNATIONAL BERHAD
YTL Power's 9-Month Profit Before Tax Jumps 151% to RM1.2 Billion (US$276 Million) & Interim Cash Dividend of 2 Sen per Share Declared

YTL Power's revenue increased 71.7% to RM13,318.1 million (US$3,033.7 mn) for the 9 months ended 31 March 2022 compared to RM7,755.9 million (US$1,766.7 mn) for the previous corresponding 9 months ended 31 March 2021.

Profit before tax increased 150.7% to RM1,213.6 million (US$276.4 mn) for the period under review compared to RM484.0 million (US$110.3 mn) for the same period last year, whilst profit after tax grew 194.3% to RM1,070.0 million (US$243.7 mn) this year over RM363.6 million (US$82.8 mn) last year.

The Group's EBITDA increased by 34.3% to RM2.8 billion (US$645.6 mn) for the current period compared to RM2.1 billion (US$480.8 mn) for the same period last year. 

The Board of Directors of YTL Power declared an interim cash dividend of 2 sen per ordinary share, the book closure and payment dates for which are 13 June 2022 and 29 June 2022, respectively. 

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, "Performance improved significantly for the period under review with higher revenue from the merchant multi-utilities business in Singapore and the water and sewerage segment in the United Kingdom, whilst profit before tax was bolstered by the disposal of the Group's investment in ElectraNet in Australia, completed in March 2022.

"On 29 April 2022, Bank Negara Malaysia announced the award of a digital banking licence to our consortium with Sea Limited. This new venture, which will also create and leverage synergies between the Group and Sea's Shopee e-commerce platform, will enable us to further contribute to the growth of the country's digital transformation efforts and broaden access to financial services, including the underserved and underbanked, as well as micro, small and medium enterprises in Malaysia.

"YTL Power is also developing the YTL Green Data Center Park in Kulai, Johor, which will be the first data center campus in Malaysia to be powered by on-site renewable solar energy. To date, we have partnered with Shopee as a co-locator and Chinese data center developer, GDS, one of the largest data center companies, to anchor the initial phases of this world-class green facility. The campus will incorporate innovative and sustainable solutions in design and operations to achieve high-energy efficiency and is expected to serve a growing demand in the region for eco-friendly, cost-efficient data center solutions from hyperscalers and co-location customers alike."

Comparison with Preceding Year Corresponding Period

MALAYAN CEMENT BERHAD
Malayan Cement's 9-Month Revenue Increases 74% to RM1.9 Billion (US$433 Million) & Profit Before Tax Grows to RM74 million (US$17 million)

Malayan Cement's revenue increased by 73.9% to RM1,900.5 million (US$432.9 mn) for the 9 months ended 31 March 2022 compared to RM1,093.2 million (US$249.0 mn) for the previous corresponding 9 months ended 31 March 2021.

Profit before tax improved significantly to RM73.6 million (US$16.8 mn) this year compared to a loss before tax of RM1.1 million (US$ 0.2 mn) recorded in the same period last year, whilst profit after tax grew to RM48.3 million (US$11.0 mn) compared to a loss after tax of RM3.4 million (US$0.8 mn) last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, "The Group recorded higher revenue and profit before tax due to the consolidation of results of the 10 cement and ready-mixed concrete companies as well as their respective subsidiaries acquired in September 2021 from YTL Cement Berhad.

"The Group's EBITDA increased substantially to RM345.1 million (US$78.6 mn) for the current period, 134% higher compared to RM147.7 million (US$33.6 mn) for the same period last year." 

Comparison with Preceding Year Corresponding Period

YTL HOSPITALITY REIT
YTL Hospitality REIT's 9-Month Revenue Grows 9% to RM257 Million (US$59 Million) & Distributable Income Increases to RM54 Million (US$12 Million)

YTL Hospitality REIT recorded higher revenue of RM257.4 million (US$58.6 mn) for the 9 months ended 31 March 2022, an 8.7% increase compared to RM236.9 million (US$54.0 mn) for the previous corresponding 9 months ended 31 March 2021.

Net property income (NPI) grew 5.0% to RM158.1 million (US$36.0 mn) for the period under review compared to RM150.6 million (US$34.3 mn) for the same period last year, whilst income available for distribution increased 1.2% to RM53.9 million (US$12.3 mn) this year over RM53.3 million (US$12.1 mn) last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, "The Trust's revenue and NPI increased during the current financial period due to the participation of the Australian portfolio in the government isolation group business programme as well as the success of cost-saving efforts, whilst revenue and NPI for the Malaysian and Japanese assets approximated results of the same period last year.

"The Group's EBITDA increased by 9.1% to RM86.8 million (US$19.8 mn) for the current period compared to RM79.5 million (US$18.1 mn) for the same period last year."

Comparison with Preceding Year Corresponding Period

Read the individual reports below:

YTL CORPORATION BERHAD

YTL POWER INTERNATIONAL BERHAD

MALAYAN CEMENT BERHAD

YTL HOSPITALITY REIT

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