Management Discussion and Analysis

MANAGEMENT DISCUSSION
AND ANALYSIS
🔊
The Group achieved another record year with a total revenue of RM1,445.4 million and Profit Before Tax (“PBT”) of RM115.0 million in FY2023.

Aerospace

Revenue from the Aerospace business increased significantly, by 30.7% to RM329.1 million from the previous financial year. The increase was contributed by higher demand for our casing and aerostructure products, as the Aviation industry starts to recover from the COVID-19 pandemic. Although our Aerospace business still recorded a loss before tax of RM1.9 million in FY2023, this loss was primarily attributable to lower revenue in the first two quarters of the financial year as well as higher utility tariff and interest expenses.

Equipment

The Equipment business achieved 24.6% higher revenue to RM1,116.3 million than the previous financial year’s, with strong demand from the semiconductor industry. PBT increased by 4.3%, to RM116.9 million as compared with previous financial year. The start-up cost of our expansion project in Thailand, escalation of manpower costs and higher interest expenses have lowered the Group PBT.

Group

The Group’s total revenue of RM1,445.4 million is 25.9% higher than previous financial year’s. PBT increased 14.4% year-onyear to RM115.0 million while Profit After Tax (“PAT”) increased by 17.7% to RM88.8 million.

The Group invested RM222.9 million in FY2023 mainly for capacity expansion of Equipment business in Thailand.

The Group ended the year with a projected order book of RM4.8 billion.

Revenue
(RM’ Million)

  • 329.1

  • 1,116.3

  • 1,445.4

FY2023

  • 251.8

  • 895.8

  • 1,147.6

FY2022

Profit Before Tax
(RM’ Million)

  • -1.9

  • 116.9

  • 115.0

FY2023

  • -11.6

  • 112.1

  • 100.5

FY2022