Hartalega Holdings Berhad 17th Annual General Meeting
2023
Contents
- Financial Performance Review (FY2023)
- Challenging pathway to recovery
- Glove Market Outlook
- Key Strategy & Initiatives
- Navigating out of this difficult period
- Growth & Expansion - Preparing for future
- Sustainability Commitment at Hartalega
2 | This document is strictly private, confidential and only for the information of the intended recipients, and is in accordance to Hartalega's Records Management Policy. |
This document should not be copied, distributed or reproduced in whole or in part, nor passed to any third party without the prior written consent of Hartalega. | |
Sales Revenue
(RM million)
Revenue Revenue CAGR
(69.5%) 18.7%
7,888
6,703
YoY Change | FY05 - FY23 |
110 160 240 282 443 572 735
2,827 | 2,924 |
2,405 | 2,410 |
921 1,032 1,107 1,145 1,498 1,822
FY05 | FY06 | FY07 | FY08 | FY09 | FY10 | FY11 | FY12 | FY13 | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 |
COVID-19
Pandemic
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Profit After Tax (PAT)
(RM million)
Profit After Tax | 3,242 |
(107.4%)2,903
YoY Change
13 19 37 69 85 143 | 190201234233210258283439454434 | -239 | ||||||||||||||||||
FY22 | ||||||||||||||||||||
FY05 | FY06 | FY07 | FY08 | FY09 | FY10 | FY11 | FY12 | FY13 | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY23 | |||
COVID-19 | ||||||||||||||||||||
Pandemic |
Post-pandemic market challenges have adversely impacted on profitability, thus the Group did not declare a dividend for FY2023
Throughout FY2021 and FY2022, the Group made cumulative dividend payout amounting to appx. RM3.7 billion to shareholders
(payout ratio of 60.2% for both financial years)
The Group is committed to maintain dividend payout policy of minimum 60% of PAT
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FY2023 Financial Results Overview
Key financial highlights
Operating performance in 1H'FY23 offset by weaker 2H'FY23, primarily attributed to: -
- ASP declined sharply in 2H'FY23
- Higher operating costs compressed margins
- Higher energy costs (i.e. natural gas & electricity)
- Increase in labour cost (new minimum wage standard in Malaysia effective 1 May 2022)
Lower sales volume recorded for the year
(FY23: 22.5 bil pcs. v. FY22: 29.5 bil pcs.)
Operationally profitable on normalised basis, excluding one-offimpairment recognised in FY2023
Maintained healthy balance sheet with net cash position of RM1.6 billion as at end-FY2023
Reported Financial Performance | FY 2023 | ||
(RM'mil) | |||
Revenue | 2,410 | ||
EBITDA | (44) | ||
Profit before tax (PBT) | (214) | ||
Profit after tax (PAT) | (239) | ||
Normalised Financial Performance (RM'mil)
- Exclude: Impairment relating to plant decommissioning exercise of RM347 million
EBITDA* | 303 |
PBT * | 133 |
PAT * | 108 |
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Disclaimer
Hartalega Holdings Bhd published this content on 04 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 September 2023 07:19:05 UTC.