Financial Performance - The company's revenue for the six months ended June 30, 2022, was RM 297.3 million, an increase of 21.1% compared to RM 245.6 million in the same period of 2021[6] - The gross profit for the same period was RM 91.6 million, up from RM 73.2 million, reflecting a growth of 24.9%[6] - Profit for the period was RM 64.3 million, representing a 15.4% increase from RM 55.7 million in the previous year[6] - Operating profit for the six months was RM 66.4 million, an increase from RM 58.2 million in the previous year[8] - The company reported a net profit of RM 31.1 million for the quarter ended June 30, 2022, compared to RM 29.2 million in the same quarter of 2021[9] - The profit before tax for the six months ended June 30, 2022, was RM 65,948 thousand, compared to RM 57,619 thousand in the same period of 2021, indicating a growth of 14%[25] - The net profit for the first half of 2022 was RM 64.3 million, a 15.4% increase from RM 55.7 million in the first half of 2021, with EBITDA rising to RM 69.9 million, up 14.0% from RM 61.4 million[51] Cash and Cash Equivalents - Cash and cash equivalents as of June 30, 2022, were RM 307.8 million, down from RM 350.0 million as of December 31, 2021[7] - The total cash and cash equivalents at the end of the reporting period were 307,783 thousand MYR, down from 333,947 thousand MYR at the end of June 30, 2021, reflecting a decrease of approximately 7.8%[17] - The company reported a cash and cash equivalents balance of 699,396 thousand MYR, up from 600,594 thousand MYR, indicating an increase of about 16.4%[11] Assets and Liabilities - As of June 30, 2022, total assets increased to 934,903 thousand MYR from 825,080 thousand MYR as of December 31, 2021, representing a growth of approximately 13.3%[11] - Current liabilities increased to 266,882 thousand MYR from 184,038 thousand MYR, a rise of approximately 45.0%[12] - Trade payables rose significantly to 123,022 thousand MYR from 77,553 thousand MYR, an increase of approximately 58.5%[12] - The company’s retained earnings increased to 538,405 thousand MYR from 475,457 thousand MYR, reflecting a growth of approximately 13.2%[14] - Trade receivables as of June 30, 2022, amounted to 235,705 thousand MYR, up from 164,043 thousand MYR as of December 31, 2021, indicating a year-on-year increase of about 43.6%[34] Revenue Segmentation - Revenue from external customers for the six months ended June 30, 2022, was RM 290,678 thousand, compared to RM 242,431 thousand in 2021, reflecting an increase of 20%[28] - The automation testing equipment segment generated RM 264,156 thousand in revenue, while the factory automation solutions segment contributed RM 76,254 thousand, totaling RM 297,333 thousand[24] - The automotive sector accounted for 34.6% of the total revenue in H1 2022, with revenue of 103.0 million MYR, compared to 10.6% and 25.9 million MYR in H1 2021[47] - The semiconductor industry contributed approximately 18.2% to the automation testing equipment segment's revenue, with 54.2 million MYR in H1 2022, compared to 17.5% and 43.1 million MYR in H1 2021[47] Dividends - The company did not recommend any interim dividend for the six months ended June 30, 2022[7] - The company declared a final dividend of 25,766 thousand MYR for the previous year, which is consistent with its dividend policy[14] - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[32] Operational Challenges - The company experienced an increase in inventory by 44,082 thousand MYR and accounts receivable by 93,928 thousand MYR during the reporting period, indicating potential challenges in cash flow management[16] - The group is focusing on long-term supply chain strategies to mitigate ongoing supply chain challenges and geopolitical tensions affecting the market[42] Strategic Initiatives - The company aims to leverage the latest technology to provide quality and cost-effective solutions to its customers[3] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24] - The group plans to expand into Germany, targeting the automotive industry, with Indonesia and the Middle East as the next goals for factory automation and single-use medical devices[58] - The strategic roadmap for 2022-2025 includes product innovation, expansion, and diversification to ensure sustainable business growth[59] Employee and Governance - The company had a total of 719 full-time employees as of June 30, 2022, an increase from 689 employees as of December 31, 2021[67] - The company is committed to competitive compensation plans and regular training programs to enhance employee skills and retention[67] - The company has adhered to all applicable provisions of the corporate governance code as of June 30, 2022[69] - The audit committee was established on December 19, 2017, and includes two independent non-executive directors and one non-executive director[70] Financial Reporting - The interim financial statements for the six months ended June 30, 2022, were reviewed by the audit committee[70] - The company has not yet adopted new or revised International Financial Reporting Standards that may impact its financial performance, indicating a stable accounting policy environment[20]
槟杰科达(01665) - 2022 - 中期财报