Press Releases

YTL Corp's Half-Year Revenue Increases 10% to RM13.1 Billion (US$3.0 Billion) & Profit Jumps 33% to RM320 Million (US$73 Million)

Kuala Lumpur, Thursday 23 February 2023

YTL Corporation Berhad’s revenue increased by 10% to RM13,081.2 million (US$2,979.8 mn) for the 6 months ended 31 December 2022 compared to RM11,916.3 million (US$2,714.4 mn) for the previous corresponding 6 months ended 31 December 2021.

Profit before tax increased by 5% to RM490.6 million (US$111.7 mn) for the 6 months under review compared to RM467.3 million (US$106.5 mn) for the same period last year, whilst profit after tax jumped 33% to RM320.3 million (US$73.0 mn) this year compared to RM241.3 million (US$55.0 mn) last year.

YTL Corp Executive Chairman, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, “The Group registered a solid set of results in the second quarter of 2023, mainly contributed by our utilities and hotels segments, with the cement division also performing steadily. The utilities segment saw ongoing stable performance from its core businesses. Meanwhile, our hotels division has continued to register significantly better results following the easing of pandemic restrictions and increasing return to normalcy in the global tourism industry.

“The Group’s EBITDA (earnings before interest, tax, depreciation and amortisation) continued to strengthen, with a 14% increase to RM2.48 billion for the half-year under review, compared to RM2.18 billion for the same period last year.”

Comparison with preceding year

	6 months ended 31.12.2022 RM million	6 months ended 31.12.2021 RM million	Variance
Revenue	13,081.2	11,916.3	+10%
Profit before tax	490.6	467.3	+5%
Profit after tax	320.3	241.3	+33%

YTL POWER INTERNATIONAL BERHAD

YTL Power’s Half-Year Revenue Grows 10% to RM9.4 Billion & Profit Surges 284% to RM358 Million

YTL Power’s profit after tax surged 284% to RM358.3 million for the 6 months ended 31 December 2022 compared to RM93.3 million for the previous corresponding 6 months ended 31 December 2021.

Revenue increased 10% to RM9,447.2 million for the half-year under review over RM8,620.7 million for the same period last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, “Higher revenue recorded for the current half-year under review was driven mainly by improved performance in our power generation segment and stable results from our water and sewerage business”.

The YTL Power Group’s EBITDA (earnings before interest, tax, depreciation and amortisation) grew 42% to RM1.82 billion for the current half-year, over RM1.28 billion for the same period last year.

Comparison with preceding year

	6 months ended 31.12.2022 RM million	6 months ended 31.12.2021 RM million	Variance
Revenue	9,447.2	8,620.7	+10%
Profit before tax	480.8	176.5	+172%
Profit after tax	358.3	93.3	+284%

MALAYAN CEMENT BERHAD

Malayan Cement’s Half-Year Revenue increased 59% to RM1.8 Billion

Malayan Cement’s revenue increased 59% to RM1,755.8 million for the 6 months ended 31 December 2022 compared to RM1,105.6 million for the previous corresponding 6 months ended 31 December 2021. Profit before tax stood at RM28.4 million for the current period under review compared to RM47.1 million for the same period last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, “The Group registered a significant increase in revenue mainly due to the full consolidation of the new cement and ready-mixed concrete businesses acquired in September 2021. However, the increase in production costs, in particular coal and electricity, impacted profit for the half-year under review”.

EBITDA (earnings before interest, tax, depreciation and amortisation) grew 22% to RM257.1 million for the 6 months under review, compared to RM210.7 million for the same period last year.

Comparison with preceding year

	6 months ended 31.12.2022 RM million	6 months ended 31.12.2021 RM million	Variance
Revenue	1,755.8	1,105.6	+59%
Profit before tax	28.4	47.1	-40%

YTL HOSPITALITY REIT

YTL Hospitality REIT’s Half-Year Revenue Increases 35% to RM242 Million & Distributable Income increases 62% to RM58 Million

YTL Hospitality REIT’s revenue increased 35% to RM242.4 million for the 6 months ended 31 December 2022 compared to RM179.9 million for the previous corresponding 6 months ended 31 December 2021.

Net property income (NPI) increased 10% to RM124.4 million for the half-year under review compared to RM113.5 million recorded in the same period last year. Income available for distribution grew 62% to RM57.9 million for the current period over RM35.7 million last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “In our hotels segment, the performance of the Australian properties improved as a result of the reopening of Australia’s international borders in the beginning of 2022 which revived the demand from corporate and leisure markets. As for our property rental segment, revenue and NPI from the Malaysian and Japanese properties approximated that of the same period last year”.

Comparison with preceding year

	6 months ended 31.12.2022 RM million	6 months ended 31.12.2021 RM million	Variance
Revenue	242.4	179.9	+35%
NPI	124.4	113.5	+10%
Distributable income	57.9	35.7	+62%