Press Releases

YTL Corp's 9-Month Profit After Tax Rises 186% to RM2.8 Billion (US$596 Million); Revenue Increases 9% to RM22.3 Billion (US$4.7 Billion)

Kuala Lumpur, Thursday 23 May 2024 — YTL Corporation Berhad recorded revenue of RM22,258.5million (US$4,735.9 mn) for the 9 months ended 31 March 2024, a 9% increase compared to RM20,410.2 million (US$4,342.6 mn) for the previous corresponding 9 months ended 31 March 2023.

Profit before tax grew 173% to RM3,569.2 million (US$759.4 mn) for the 9 months under review compared to RM1,306.3 million (US$277.9 mn) for the same period last year, whilst profit after tax rose 186% to RM2,802.3 million (US$596.2 mn) this year compared to RM979.7 million (US$208.4mn) for the same period last year.

Executive Chairman, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, "We continued to see strong results through the third quarter of the 2024 financial year, with profit after tax up 186% and revenue increasing 9%, driven by better performance across the Group. All divisions contributed to the higher profit seen for the nine months under review.

"The Group's EBITDA (earnings before interest, tax, depreciation and amortisation) increased 64% to RM7.0 billion for the 9 months ended 31 March 2024 compared to RM4.3 billion for the same period last year."

Comparison with Preceding Year Corresponding Period

	9 months ended
	31.03.2024 RM million	31.03.2023 RM million	Variance %
Revenue	22,258.5	20,410.2	+9
Profit before tax	3,569.2	1,306.3	+173
Profit after tax	2,802.3	979.7	+186

YTL POWER INTERNATIONAL BERHAD
YTL Power's 9-Month Profit After Tax Grows 176% to RM2.4 Billion
Interim Dividend of 3.0 Sen per Share Declared

YTL Power recorded an 8% increase in revenue to RM15,979.1 million for the 9 months ended 31 March 2024 compared to RM14,804.7 million for the previous corresponding 9 months ended 31 March 2023.

Profit before tax increased 164% to RM2,875.5 million for the 9 months under review compared to RM1,091.2 million for the same period last year, whilst profit after tax grew 176% to RM2,391.9 million this year over RM866.0 million for the same period last year.

The Board of Directors of YTL Power declared an interim dividend of 3.0 sen per ordinary share in respect of the financial year ending 30 June 2024, the book closure and payment dates for which are 12 June 2024 and 28 June 2024, respectively.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, "The Group achieved strong growth for the 9 months under review, driven primarily by better margins in the power generation segment. The water and sewerage segment recorded higher revenue due to new contracts secured within the non-household retail market and the price increase allowed by the industry regulator".

EBITDA (earnings before interest, tax, depreciation and amortisation) for the 9 months ended 31 March 2024 increased 68% to RM5.2 billion, compared to RM3.1 billion for the same period last year.

Comparison with Preceding Year Corresponding Period

	9 months ended
	31.03.2024 RM million	31.03.2023 RM million	Variance %
Revenue	15,979.1	14,804.7	+8
Profit before tax	2,875.5	1,091.2	+164
Profit after tax	2,391.9	866.0	+176

MALAYAN CEMENT BERHAD
Malayan Cement's 9-Month Revenue Increases 24% to RM3.4 Billion & Profit After Tax Rises 301% to RM319 Million
Interim Dividend of 4.0 Sen per Share Declared

Malayan Cement's revenue increased 24% to RM3,405.0 million for the 9 months ended 31 March 2024 compared to RM2,746.5 million for the previous corresponding 9 months ended 31 March 2023.

Profit before tax grew 296% to RM503.4 million for the 9 months under review compared to RM127.1 million for the same period last year, whilst profit after tax rose 301% to RM318.7 million this year over RM79.5 million for the same period last year.

The Board of Directors of Malayan Cement declared an interim dividend of 4.0 sen per ordinary share in respect of the financial year ending 30 June 2024, the book closure and payment dates for which are 11 June 2024 and 26 June 2024, respectively.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, "Malayan Cement's better performance for the 9 months under review was attributed to stabilisation of the selling price for both domestic cement and ready-mixed concrete, coupled with continued improvements in operational efficiencies".

EBITDA (earnings before interest, tax, depreciation and amortisation) increased 93% to RM907.4 million for the 9 months ended 31 March 2024, compared to RM469.4 million for the same period last year.

Comparison with Preceding Year Corresponding Period

	9 months ended
	31.03.2024 RM million	31.03.2023 RM million	Variance %
Revenue	3,405.0	2,746.5	+24
Profit before tax	503.4	127.1	+296
Profit after tax	318.7	79.5	+301

YTL HOSPITALITY REIT
YTL Hospitality REIT's 9-Month Revenue Increases 15% to RM425 Million with 26% Growth in Distributable Income to RM106 Million

YTL Hospitality REIT's revenue increased 15% to RM424.7 million for the 9 months ended 31 March 2024 compared to RM369.3 million for the previous corresponding 9 months ended 31 March 2023.

Net property income (NPI) rose 17% to RM223.7 million for the 9 months under review compared to RM191.3 million for the same period last year, whilst income available for distribution grew 26% to RM106.1 million this year compared to RM84.2 million for the same period last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, "Improved performance of the Trust's Australian portfolio was driven by increased international arrivals owing to entertainment and sports events held in Sydney and Brisbane, which drove up average daily room rates and occupancy rates. In the property rental
segment, better performance was due to rental income from the new Hotel Stripes Kuala Lumpur, acquired on 31 October 2023, and step-up rental from the renewal of the lease agreement for the JW Marriott Hotel Kuala Lumpur".

Comparison with Preceding Year Corresponding Period

	9 months ended
	31.03.2024 RM million	31.03.2023 RM million	Variance %
Revenue	424.7	369.3	+15
NPI	223.7	191.3	+17
Distributable Income	106.1	84.2	+26