YTL Corp Registers 1st Quarter Revenue of RM7.8 Billion (US$1.7 Billion) & Profit Before Tax of RM899 Million (US$201 Million)
Kuala Lumpur, Tuesday 26 November 2024
YTL Corporation Berhad recorded revenue of RM7,773.9 million (US$1,793.1 mn) for the 3 months ended 30 September 2024 compared to RM8,232.2 million (US$1,841.7 mn) for the preceding 3 months ended 30 June 2024. Profit before tax stood at RM899.2 million (US$201.2 mn) for the quarter under review compared to RM1,263.8 million (US$282.7 mn) for the preceding quarter.
Executive Chairman, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, “The Group achieved a good set of results for the first quarter of the 2025 financial year, with revenue across most divisions remaining stable or registering growth.
“Operating profit remained healthy, registering a 12% increase for the current quarter under review over the preceding quarter, after excluding non-cash unrealised foreign exchange losses of RM289.5 million for the current quarter and the one-off fair value gain of RM203.5 million due to the acquisition of shares in Ranhill recognised in the preceding quarter.”
The Group’s EBITDA (earnings before interest, tax, depreciation and amortisation) for the 3 months ended 30 September 2024 remained robust at RM2.1 billion, compared to RM2.4 billion for the 3 months ended 30 September 2023.
Comparison with Preceding Quarter
| 30.09.2024 RM million |
30.06.2024 RM million |
Variance % |
|
| Revenue | 7,773.9 | 8,232.2 | -6 |
| Profit before tax (as reported) | 899.2 | 1,263.8 | |
| Adjustments | 1 289.5 | 2 (203.5) | |
| Adjusted profit before tax | 1,188.7 | 1,060.3 | +12 |
1 Unrealised foreign exchange losses
2 One-off fair value gain on acquisition of Ranhill shares
YTL POWER INTERNATIONAL BERHAD
YTL Power Records 1st Quarter Revenue of RM5.7 Billion & Profit Before Tax of RM665 Million
YTL Power recorded revenue of RM5,683.5 million for the 3 months ended 30 September 2024 compared to RM6,305.2 million for the preceding 3 months ended 30 June 2024. Profit before tax stood at RM664.8 million for the 3 months under review compared to RM1,140.0 million for the preceding quarter.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, “The Group made a strong start to the 2025 financial year, turning in revenue of RM5.7 billion for the quarter under review.
“Operating profit increased 2% this quarter compared to the preceding quarter, after adjusting for non-cash items comprising the current quarter’s unrealised foreign exchange losses of RM293.3 million and the one-off fair value gain of RM203.5 million arising from the acquisition of shares in Ranhill recognised during the preceding quarter.”
EBITDA (earnings before interest, tax, depreciation and amortisation) for the 3 months ended 30 September 2024 stood at RM1.5 billion, compared to RM1.9 billion for the quarter ended 30 September 2023.
Comparison with Preceding Quarter
| 30.09.2024 RM million |
30.06.2024 RM million |
Variance % |
|
| Revenue | 5,683.5 | 6,305.2 | -10 |
| Profit before tax (as reported) | 664.8 | 1,140.0 | |
| Adjustments | 1 293.3 | 2 (203.5) | |
| Adjusted profit before tax | 958.1 | 936.5 | +2 |
1 Unrealised foreign exchange losses
2 One-off fair value gain on acquisition of Ranhill shares
MALAYAN CEMENT BERHAD
Malayan Cement Registers 1st Quarter Revenue of RM1.2 Billion & Profit Before Tax of RM203 Million
Malayan Cement recorded a 2% increase in revenue to RM1,170.4 million for the 3 months ended 30 September 2024 compared to RM1,148.1 million for the previous corresponding 3 months ended 30 September 2023. Profit before tax grew 31% to RM203.1 million for the 3 months under review compared to RM154.6 million for the same quarter last year, whilst profit after tax rose 45% to RM139.6 million this quarter over RM96.1 million for the same quarter last year.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, “Revenue for the current quarter was comparable to the corresponding quarter last year, with the ready-mixed concrete segment contributing a higher share of revenue mainly due to increased demand for high grade ready-mixed concrete and bespoke products. The increase in profit before tax was mainly the result of ongoing improvements in operational efficiencies and lower production costs”.
EBITDA (earnings before interest, tax, depreciation and amortisation) increased 17% to RM339.2 million for the 3 months ended 30 September 2024, compared to RM291.2 million for the previous corresponding 3 months ended 30 September 2023.
Comparison with Preceding Year Corresponding Quarter
| 30.09.2024 RM million |
30.09.2023 RM million |
Variance % |
|
| Revenue | 1,170.4 | 1,148.1 | +2 |
| Profit before tax | 203.1 | 154.6 | +31 |
YTL HOSPITALITY REIT
YTL Hospitality REIT Records 1st Quarter Revenue of RM133 Million & Distributable Income of RM26 Million
YTL Hospitality REIT’s revenue increased marginally to RM132.7 million for the 3 months ended 30 September 2024 compared to RM130.9 million for the previous corresponding 3 months ended 30 September 2023. Net property income (NPI) increased to RM68.9 million for the current quarter under review compared to RM68.3 million for the same period last year, whilst income available for distribution stood at RM26.5 million for the current quarter, approximating the same quarter last year.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “Hotel segment revenue for the current quarter remained relatively consistent with the corresponding quarter last year although NPI was slightly impacted by higher property operating expenses incurred in the guest room maintenance programme at the Sydney Harbour Marriott.
“Meanwhile, the property rental segment registered higher revenue and NPI due mainly to new rental income from Hotel Stripes, step-up rental income from the renewal of the lease agreement with the JW Marriott Hotel and additional rental income from the AC hotels in Kuala Lumpur, Penang and Kuantan following completion of refurbishment works in the preceding quarter.”
Comparison with Preceding Year Corresponding Quarter
| 30.09.2024 RM million |
30.09.2023 RM million |
Variance % |
|
| Revenue | 132.7 | 130.9 | +1 |
| NPI | 68.9 | 68.3 | +1 |
| Distributable income | 26.5 | 26.5 | 0 |
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