Financial Performance - The company reported a revenue of $372.4 million for the fiscal year 2024, reflecting an 18% growth over the past five years[10]. - Shareholder profit (PATMI) for fiscal year 2024 was $8.5 million, up from $4.95 million in fiscal year 2023[16]. - The gross profit for fiscal year 2024 was $94.9 million, compared to $91.1 million in fiscal year 2023[16]. - The company reported a basic earnings per share of 1.91 cents for fiscal year 2024, an increase from 1.12 cents in fiscal year 2023[16]. - For the fiscal year 2024, the company's revenue increased by 9.0% year-on-year, with shareholder earnings rising by 72.1%[83]. - The group's total revenue increased from SGD 341.8 million in FY2023 to SGD 372.4 million in FY2024, representing a growth of approximately SGD 30.6 million or 9.0%[98]. - Renewable energy revenue surged to SGD 22.3 million from SGD 6.7 million, with operational income contributing SGD 10.3 million and construction income SGD 12.0 million[98]. - The overall gross profit increased by 4.1% to SGD 94.9 million, while the gross profit margin decreased from 26.7% to 25.5%[100]. - The company reported a 25% increase in net profit and a 72% increase in shareholder profit due to revenue growth and prudent cost management[128]. Market Expansion and Strategy - The company has over 10,000 enterprise customers across more than 75 locations in Asia[10]. - The company has established 78 offices across the Asia-Pacific region, enhancing its market presence[17]. - The company aims to leverage the "Asia-for-Asia" transformation and the "China+1" strategy to benefit from geopolitical shifts[20]. - The company is focusing on expanding its industrial automation business and investing in new technologies to meet evolving customer needs[29]. - The company is actively pursuing more small hydropower projects in Indonesia to expand its renewable energy solutions, aligning with the government's target to increase installed renewable energy capacity to 100 GW by 2040[36]. - The company is committed to sustainable industrial growth through its green industrial solutions and clean energy product offerings[7]. - The company is focused on developing renewable energy solutions for solar, energy storage, and smart energy grids, contributing to a greener industrial future[52]. Investments and Acquisitions - The company increased its stake in IDI Laser Services Pte Ltd from 33.3% to 70%, integrating advanced laser solutions into its product portfolio, part of a strategy to promote industrial automation in Asia[35]. - The company has invested in three small hydropower stations in Southeast Asia, demonstrating its commitment to sustainable industrial practices[52]. - The company made an additional investment of USD 1 million (approximately SGD 1.36 million) into its wholly-owned subsidiary in Jiangxi for working capital[123]. - The company acquired 150,000 shares of FM and 7,500 shares of Centronics, representing 30% of their total issued share capital, for a total consideration of approximately SGD 2.05 million[122]. Corporate Governance - The board proposed a final dividend of 0.47 SGD cents for fiscal year 2024, representing a payout ratio of 25%[91]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring a majority of independent members[180]. - The company has established mechanisms to ensure independent opinions are communicated to the board, enhancing decision-making effectiveness[176]. - The board has complied with regulations requiring at least one-third of its members to be independent non-executive directors[177]. - The company recognizes the importance of board independence for effective governance and decision-making[176]. - The board has established four committees: Audit Committee (AC), Nomination Committee (NC), Remuneration Committee (RC), and Risk Management Committee (RMC) to assist in fulfilling its responsibilities[160]. Sustainability and Social Responsibility - The company is actively constructing more hydropower stations, demonstrating strong profitability in its hydropower business[24]. - The company collaborates with local communities in Indonesia to provide renewable energy and job opportunities, enhancing its social responsibility[52]. - The company is committed to providing tailored automation and control software products based on specific industrial customer needs[48]. Future Outlook - The company maintains a cautiously optimistic outlook for fiscal year 2025, driven by capacity enhancement and market expansion[92]. - The company anticipates a GDP growth target of approximately 5% for China in 2025, focusing on boosting consumption and strategic investments[37]. - The Chinese industrial automation market is expected to grow from USD 150 billion in 2024 to USD 250 billion by 2029, presenting significant opportunities for the company[94].
亿仕登控股(01656) - 2024 - 年度财报