Malakoff Corporation Berhad (200601011818/731568-V) | Page 1 of 20 | |||||||
Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income | ||||||||
Quarterly Report on Unaudited Consolidated Results | ||||||||
For the Period Ended 30 September 2021 | ||||||||
Cumulative | Cumulative | |||||||
3 months | 3 months | 9 months | 9 months | |||||
ended | ended | ended | ended | |||||
30.09.2021 | 30.09.2020 | 30.09.2021 | 30.09.2020 | |||||
RM'000 | RM'000 | RM'000 | RM'000 | |||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||
Revenue | 1,583,751 | 1,482,895 | 4,519,367 | 4,763,037 | ||||
Cost of sales | (1,287,782) | (1,239,038) | (3,575,929) | (3,912,988) | ||||
Gross profit | 295,969 | 243,857 | 943,438 | 850,049 | ||||
Other income | 5,425 | 7,562 | 16,224 | 64,071 | ||||
Administrative expenses | (49,280) | (54,071) | (159,763) | (163,206) | ||||
Impairment loss on financial instruments | (6,210) | (6,137) | (18,423) | (19,327) | ||||
Other operating expenses | (40,747) | (28,655) | (96,095) | (73,912) | ||||
Results from operating activities | 205,157 | 162,556 | 685,381 | 657,675 | ||||
Finance income | 28,208 | 40,975 | 88,266 | 136,607 | ||||
Finance costs | (172,276) | (185,622) | (515,445) | (565,003) | ||||
Net finance costs | (144,068) | (144,647) | (427,179) | (428,396) | ||||
Share of profit of equity-accounted associates | ||||||||
and joint ventures, net of tax | 57,495 | 49,676 | 146,758 | 141,033 | ||||
Profit before tax | 118,584 | 67,585 | 404,960 | 370,312 | ||||
Tax expense | (45,846) | (6,997) | (128,413) | (91,414) | ||||
Profit for the period | 72,738 | 60,588 | 276,547 | 278,898 | ||||
Other comprehensive income/(expense), net of tax | ||||||||
Items that will not be reclassified subsequently to | ||||||||
profit or loss | ||||||||
Remeasurement of defined benefit liabilities | - | - | (32) | (4,393) | ||||
Items that may be reclassified subsequently to | ||||||||
profit or loss | ||||||||
Cash flow hedge | 17,259 | (2,568) | 38,068 | (72,223) | ||||
Share of gain/(loss) on hedging reserve of | ||||||||
equity-accounted associates and joint ventures | 8,826 | (17,431) | 52,447 | (47,175) | ||||
Foreign currency translation differences | ||||||||
for foreign operations | 1,254 | (6,445) | 9,319 | 18 | ||||
27,339 | (26,444) | 99,834 | (119,380) | |||||
Other comprehensive income/(expense) for the period | 27,339 | (26,444) | 99,802 | (123,773) | ||||
Total comprehensive income for the period | 100,077 | 34,144 | 376,349 | 155,125 | ||||
Malakoff Corporation Berhad (200601011818/731568-V) | Page 2 of 20 |
Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income
Quarterly Report on Unaudited Consolidated Results
For the Period Ended 30 September 2021
3 months | 3 months | 9 months | 9 months | ||||
ended | ended | ended | ended | ||||
30.09.2021 | 30.09.2020 | 30.09.2021 | 30.09.2020 | ||||
RM'000 | RM'000 | RM'000 | RM'000 | ||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||
Profit attributable to: | |||||||
Owners of the Company | 67,160 | 50,802 | 245,338 | 244,939 | |||
Non-controlling interests | 5,578 | 9,786 | 31,209 | 33,959 | |||
Profit for the period | 72,738 | 60,588 | 276,547 | 278,898 | |||
Total comprehensive income attributable to: | |||||||
Owners of the Company | 94,499 | 24,358 | 345,140 | 121,166 | |||
Non-controlling interests | 5,578 | 9,786 | 31,209 | 33,959 | |||
Total comprehensive income for the period | 100,077 | 34,144 | 376,349 | 155,125 | |||
Earnings per ordinary share (sen) | |||||||
Basic/diluted | 1.37 | 1.04 | 5.02 | 5.01 |
Malakoff Corporation Berhad (200601011818/731568-V) | Page 3 of 20 | ||
Condensed Consolidated Statements Of Financial Position | |||
As At 30 September 2021 | |||
As at | As at | ||
30.09.2021 | 31.12.2020 | ||
RM'000 | RM'000 | ||
(Unaudited) | (Audited) | ||
Assets | |||
Property, plant and equipment | 11,843,507 | 12,391,428 | |
Investment properties | 15,300 | 15,300 | |
Concession assets | 156,060 | 167,837 | |
Intangible assets | 2,913,359 | 3,144,168 | |
Investments in associates | 905,983 | 798,841 | |
Investments in joint ventures | 760,007 | 668,364 | |
Other investments | 2,484 | 23,999 | |
Derivative financial assets | 290,354 | 231,170 | |
Trade and other receivables | 445,541 | 480,666 | |
Deferred tax assets | 191,699 | 194,583 | |
Total non-current assets | 17,524,294 | 18,116,356 | |
Trade and other receivables | 1,284,259 | 884,184 | |
Inventories | 741,384 | 591,799 | |
Current tax assets | 87,394 | 90,627 | |
Other investments | 3,034,535 | 3,378,157 | |
Cash and cash equivalents | 754,128 | 1,062,600 | |
Assets classified as held for sale | 65,000 | 65,000 | |
Total current assets | 5,966,700 | 6,072,367 | |
Total assets | 23,490,994 | 24,188,723 | |
Equity | |||
Share capital | 5,693,055 | 5,693,055 | |
Treasury shares | (98,647) | (98,647) | |
Reserves | 161,803 | 61,969 | |
Accumulated losses | (262,763) | (348,468) | |
Equity attributable to owners of the Company | 5,493,448 | 5,307,909 | |
Perpetual sukuk | 800,000 | 800,000 | |
Non-controlling interests | 310,210 | 336,802 | |
Total equity | 6,603,658 | 6,444,711 | |
Liabilities | |||
Loans and borrowings | 8,912,830 | 9,717,431 | |
Lease liabilities | 7,614 | 6,746 | |
Employee benefits | 109,128 | 100,483 | |
Provision for decommissioning cost | 104,798 | 99,893 | |
Provision for concession assets | 293,595 | 267,715 | |
Deferred income | 3,135,071 | 3,357,888 | |
Derivative financial liabilities | 10,897 | 15,381 | |
Deferred tax liabilities | 1,131,146 | 1,200,943 | |
Total non-current liabilities | 13,705,079 | 14,766,480 |
Malakoff Corporation Berhad (200601011818/731568-V) | Page 4 of 20 | ||
Condensed Consolidated Statements Of Financial Position | |||
As At 30 September 2021 | |||
As at | As at | ||
30.09.2021 | 31.12.2020 | ||
RM'000 | RM'000 | ||
(Unaudited) | (Audited) | ||
Trade and other payables | 1,287,827 | 1,360,268 | |
Current tax liabilities | 33,476 | 16,894 | |
Loans and borrowings | 1,421,006 | 1,164,663 | |
Lease liabilities | 2,770 | 6,616 | |
Provision for decommissioning cost | 20,056 | 11,809 | |
Provision for concession assets | 26,691 | 26,691 | |
Deferred income | 390,431 | 390,591 | |
Total current liabilities | 3,182,257 | 2,977,532 | |
Total liabilities | 16,887,336 | 17,744,012 | |
Total equity and liabilities | 23,490,994 | 24,188,723 | |
Net assets per share attributable to | |||
ordinary equity holders of the parent (RM) | 1.12 | 1.09 |
Malakoff Corporation Berhad (200601011818/731568-V) | Page 5 of 20 |
Condensed Consolidated Statement of Changes in Equity
For the Period Ended 30 September 2021
/---------------- | Attributable to owners of the Company | ----------------/ | ||||||||
/--------------------- | Non-distributable--------------------- | / | Distributable | |||||||
Reserves | ||||||||||
Share | Treasury | Accumulated | Perpetual | Non-controlling | Total | |||||
Capital | Shares | Translation | Hedging | Losses | Total | Sukuk | Interests | Equity | ||
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | ||
At 1 January 2021 | 5,693,055 | (98,647) | (12,657) | 74,626 | (348,468) | 5,307,909 | 800,000 | 336,802 | 6,444,711 | |
Remeasurement of defined benefit liabilities | - | - | - | - | (32) | (32) | - | - | (32) | |
Foreign currency translation | ||||||||||
differences for foreign operations | - | - | 9,319 | - | - | 9,319 | - | - | 9,319 | |
Cash flow hedge | - | - | - | 38,068 | - | 38,068 | - | - | 38,068 | |
Share of gain on hedging reserve of | ||||||||||
equity-accounted associates and joint ventures | - | - | - | 52,447 | - | 52,447 | - | - | 52,447 | |
Other comprehensive income/(expense) | ||||||||||
for the period | - | - | 9,319 | 90,515 | (32) | 99,802 | - | - | 99,802 | |
Profit for the period | - | - | - | - | 245,338 | 245,338 | - | 31,209 | 276,547 | |
Comprehensive income for the period | - | - | 9,319 | 90,515 | 245,306 | 345,140 | - | 31,209 | 376,349 | |
Profit distribution of perpetual sukuk | - | - | - | - | (47,200) | (47,200) | - | - | (47,200) | |
Dividends to owners of the Company | - | - | - | - | (112,401) | (112,401) | - | - | (112,401) | |
Dividends to non-controlling interests | - | - | - | - | - | - | - | (52,711) | (52,711) | |
Redemption of preference shares | ||||||||||
to non-controlling interests | - | - | - | - | - | - | - | (5,090) | (5,090) | |
Total distribution to owners | - | - | - | - | (112,401) | (112,401) | - | (57,801) | (170,202) | |
At 30 September 2021 | 5,693,055 | (98,647) | (3,338) | 165,141 | (262,763) | 5,493,448 | 800,000 | 310,210 | 6,603,658 | |
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Malakoff Corporation Berhad published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 06:49:05 UTC.