Kuala Lumpur Kepong Berhad : First Quarter 2022Ended 31 December 2021

KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

Interim Financial Report

For the first quarter ended 31 December 2021

KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

The Directors are pleased to announce the unaudited financial results of the Group for the first quarter ended 31 December 2021.

Condensed Consolidated Statement of Profit or Loss

For the first quarter ended 31 December 2021

(The figures have not been audited.)

			Individual Quarter		Cumulative Quarter
			3 months ended		3 months ended
			31 December		31 December
			2021	2020	+/(-)	2021	2020	+/(-)
			RM'000	RM'000	%	RM'000	RM'000	%
Revenue	6,828,868	4,299,793	58.8	6,828,868	4,299,793	58.8
Operating expenses	(5,959,873)	(3,907,100)	52.5	(5,959,873)	(3,907,100)	52.5
Other operating income	139,205	148,235	(6.1)	139,205	148,235	(6.1)
Finance costs	(75,034)	(58,260)	28.8	(75,034)	(58,260)	28.8
Net impairment reversals/(losses)
on financial assets	5,728	(1,603)	N/M	5,728	(1,603)	N/M
Share of results of associates	3,438	3,919	(12.3)	3,438	3,919	(12.3)
Share of results of joint ventures	12,770	8,898	43.5	12,770	8,898	43.5
Profit before taxation	955,102	493,882	93.4	955,102	493,882	93.4
Taxation	(277,549)	(86,175)	222.1	(277,549)	(86,175)	222.1
Net profit for the period	677,553	407,707	66.2	677,553	407,707	66.2
Attributable to:
Equity holders of the Company	599,324	357,408	67.7	599,324	357,408	67.7
Non-controlling interests	78,229	50,299	55.5	78,229	50,299	55.5
			677,553	407,707	66.2	677,553	407,707	66.2
			Sen	Sen		Sen	Sen
Earnings per share - basic	55.6	33.1		55.6	33.1
Earnings per share - diluted	N/A	N/A		N/A	N/A
N/M	-	Not meaningful
N/A	-	Not applicable

The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the Annual Financial Report for the year ended 30 September 2021.

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KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

Condensed Consolidated Statement of Other Comprehensive Income

For the first quarter year ended 31 December 2021

(The figures have not been audited.)

	Individual Quarter	Cumulative Quarter
	3 months ended	3 months ended
	31 December	31 December
	2021	2020	2021	2020
	RM'000	RM'000	RM'000	RM'000
Net profit for the period	677,553	407,707	677,553	407,707
Other comprehensive (loss)/income that
will be reclassified subsequently to
profit or loss
Currency translation differences	(16,895)	64,537	(16,895)	64,537
Other comprehensive income that
will not be reclassified subsequently to
profit or loss
Net change in fair value of equity
instruments	23,740	36,556	23,740	36,556
Total other comprehensive income for the
period	6,845	101,093	6,845	101,093
Total comprehensive income
for the period	684,398	508,800	684,398	508,800
Attributable to:
Equity holders of the Company	616,447	450,538	616,447	450,538
Non-controlling interests	67,951	58,262	67,951	58,262
	684,398	508,800	684,398	508,800

The Condensed Consolidated Statement of Other Comprehensive Income should be read in conjunction with the Annual Financial Report for the year ended 30 September 2021.

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KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

Condensed Consolidated Statement of Financial Position

As at 31 December 2021

(The figures have not been audited.)

	31 December		30 September
	2021	2021
	RM'000		RM'000
Assets
Property, plant and equipment	11,723,716	11,014,851
Right-of-use assets	1,378,381	1,316,628
Inventories	2,040,144	2,035,257
Goodwill on consolidation	330,002	327,417
Intangible assets	19,625	20,907
Investments in associates	1,968,264	1,777,894
Investments in joint ventures	178,633	179,649
Other investments	622,076	598,959
Other receivables	398,708	444,389
Deferred tax assets	334,738		338,660
Total non-current assets	18,994,287		18,054,611
Inventories	3,199,891	2,991,026
Biological assets	187,581	210,218
Trade and other receivables	2,932,908	3,167,272
Contract assets	28,856	7,448
Tax recoverable	17,042	25,021
Derivative financial assets	145,817	162,459
Short term funds	185,802	253,405
Cash and cash equivalents	3,057,068		3,205,971
Total current assets	9,754,965		10,022,820
Total assets	28,749,252	28,077,431
Equity
Share capital	1,375,695	1,375,695
Reserves	11,036,456		10,510,376
	12,412,151	11,886,071
Less: Cost of treasury shares	(26,809)		(26,809)
Total equity attributable to equity holders of the Company	12,385,342	11,859,262
Non-controlling interests	1,729,333		2,347,778
Total equity	14,114,675	14,207,040
Liabilities
Deferred tax liabilities	1,106,393	965,959
Lease liabilities	130,912	133,457
Deferred income	96,273	98,465
Provision for retirement benefits	568,672	559,576
Borrowings	5,536,049		5,612,880
Total non-current liabilities	7,438,299		7,370,337
Trade and other payables	1,969,556	2,734,106
Contract liabilities	134,597	120,584
Deferred income	8,591	8,598
Lease liabilities	23,602	24,975
Borrowings	3,783,297	3,152,482
Tax payable	250,572	221,142
Derivative financial liabilities	163,753	238,167
Dividend payable	862,310		-
Total current liabilities	7,196,278		6,500,054
Total liabilities	14,634,577		13,870,391
Total equity and liabilities	28,749,252	28,077,431
Net assets per share attributable to equity holders
of the Company (RM)	11.49	11.00

The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Report for the year ended 30 September 2021.

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								KUALA LUMPUR KEPONG BERHAD
									197301001526 (15043-V)
	Condensed Consolidated Statement of Changes in Equity
		For the first quarter ended 31 December 2021
		(The figures have not been audited.)
			Attributable to the equity holders of the Company
			Exchange	Fair					Non-
	Share	Capital	fluctuation	value	Retained	Other	Treasury		controlling	Total
	capital	reserve	reserve	reserve	earnings	reserve	shares	Total	interests	Equity
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
At 1 October 2021	1,375,695	1,568,336	113,371	743,755	9,019,962	(935,048)	(26,809)	11,859,262	2,347,778	14,207,040
Net change in fair value of equity instruments	-	-	-	23,740	-	-	-	23,740	-	23,740
Transfer of reserves	-	57,228	-	-	(57,228)	-	-	-	-	-
Currency translation differences	-	(132)	(6,485)	-	-	-	-	(6,617)	(10,278)	(16,895)
Total other comprehensive income/(loss) for the period	-	57,096	(6,485)	23,740	(57,228)	-	-	17,123	(10,278)	6,845
Profit for the period	-	-	-	-	599,324	-	-	599,324	78,229	677,553
Total comprehensive income/(loss) for the period	-	57,096	(6,485)	23,740	542,096	-	-	616,447	67,951	684,398
Acquisition through business combination	-	-	-	-	-	-	-	-	213,187	213,187
Purchase of shares from non-controlling interests	-	-	-	-	(25,690)	799,861	-	774,171	(825,069)	(50,898)
Effect of changes in shareholdings in subsidiaries	-	-	(2,549)	-	321	-	-	(2,228)	(1,312)	(3,540)
Dividend payable	-	-	-	-	(862,310)	-	-	(862,310)	-	(862,310)
Dividends paid to non-controlling interests	-	-	-	-	-	-	-	-	(73,202)	(73,202)
Total transactions with owners of the Company	-	-	(2,549)	-	(887,679)	799,861	-	(90,367)	(686,396)	(776,763)
At 31 December 2021	1,375,695	1,625,432	104,337	767,495	8,674,379	(135,187)	(26,809)	12,385,342	1,729,333	14,114,675

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