Financial Performance - Multi Ways Holdings Limited reported fiscal year 2022 revenue of approximately $38.4 million, representing a 15% increase year-over-year from approximately $33.4 million in 2021[3] - Gross profit for the fiscal year 2022 was approximately $9.7 million, with a profit margin of 25.4%, compared to a margin of 28% in 2021[3] - Net income for fiscal year 2022 was approximately $1 million, a decrease from approximately $1.8 million in 2021, primarily due to increased selling and administrative expenses[3] Revenue Sources - 41.2% of total revenue in 2022 was generated from customers in Singapore, while 23.6% came from Australia, and 35.2% from other countries[3] Cash Flow and Assets - Cash provided by operating activities decreased to approximately $0.8 million in 2022, down from approximately $5.6 million in 2021[7] - Cash and cash equivalents decreased to approximately $1.0 million as of December 31, 2022, compared to approximately $1.5 million in 2021[7] - Working capital decreased to approximately $2.9 million at the end of 2022, down from approximately $4.4 million at the end of 2021[7] - Total assets as of December 31, 2022, were approximately $52.8 million, while total liabilities were approximately $46.5 million[7] Shareholders' Equity - Shareholders' equity increased to approximately $6.3 million as of December 31, 2022, compared to approximately $5.4 million in 2021[7] Future Plans - The company plans to invest in expanding and renewing its fleet of heavy construction equipment to meet growing demand following its initial public offering[6]
Multi Ways (MWG) - 2023 Q2 - Quarterly Report