Financial Statements and Related Announcement::First Quarter Results

TOP GLOVE CORPORATION BHD.

Company No.199801018294 [474423-X]

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The World's Largest Manufacturer of Gloves

Website : www.topglove.com E-mail : [e-mail]

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

FOR THE FIRST QUARTER ENDED 30 NOVEMBER 2021

	Current		Corresponding		Current		Corresponding
	Quarter Ended		Quarter Ended		Year To Date		Year To Date
	30 Nov 2021	30 Nov 2020	30 Nov 2021	30 Nov 2020
	RM'000		RM'000		RM'000		RM'000
Revenue	1,584,120		4,758,333		1,584,120		4,758,333
Operating expenses	(1,367,064)		(1,712,230)		(1,367,064)		(1,712,230)
Other operating income	43,496		38,734		43,496		38,734
Profit from operations	260,552		3,084,837		260,552		3,084,837
Finance costs	(1,077)		(936)		(1,077)		(936)
Share of results of an associate	(630)		763		(630)		763
Profit before tax	258,845		3,084,664		258,845		3,084,664
Taxation	(56,472)		(697,408)		(56,472)		(697,408)
Profit net of tax	202,373		2,387,256		202,373		2,387,256
Profit attributable to:
Owners of the parent	185,718		2,357,785		185,718		2,357,785
Holders of Perpetual Sukuk	12,802		12,873		12,802		12,873
Non controlling interests	3,853		16,598		3,853		16,598
	202,373		2,387,256		202,373		2,387,256
Earnings per share attributable to owners
of the parent, sen:
Basic	2.32		29.02		2.32		29.02
Diluted	2.32		28.97		2.32		28.97

The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the

Annual Financial Report for the financial year ended 31 August 2021.

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TOP GLOVE CORPORATION BHD.

Company No.199801018294 [474423-X]

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE FIRST QUARTER ENDED 30 NOVEMBER 2021

	Current		Corresponding		Current		Corresponding
	Quarter Ended		Quarter Ended		Year To Date		Year To Date
	30 Nov 2021		30 Nov 2020		30 Nov 2021		30 Nov 2020
	RM'000		RM'000		RM'000		RM'000
Profit net of tax	202,373		2,387,256		202,373		2,387,256
Other comprehensive (loss)/income :
Items that may be reclassified subsequently to
profit or loss:
Net movement on debt securities at fair value
through other comprehensive income	(1,709)		182		(1,709)		182
Foreign currency translation differences of
foreign operations	(15,478)		2,804		(15,478)		2,804
Cash flow hedge	0		2,690		0		2,690
Other comprehensive (loss)/income, net of tax
(17,187)	5,676	(17,187)	5,676
Total comprehensive income
185,186	2,392,932	185,186	2,392,932
Total comprehensive income attributable to:
Owners of the parent	169,372		2,363,283		169,372		2,363,283
Holders of Perpetual Sukuk	12,802		12,873		12,802		12,873
Non controlling interests	3,012		16,776		3,012		16,776
	185,186		2,392,932		185,186		2,392,932

The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the

Annual Financial Report for the financial year ended 31 August 2021.

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TOP GLOVE CORPORATION BHD.

Company No.199801018294 [474423-X]

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 NOVEMBER 2021

	Unaudited as at		Audited as at
	30 Nov 2021		31 Aug 2021
ASSETS	RM'000		RM'000
Non current assets
Property, plant and equipment	4,090,377		3,958,715
Right-of-use assets	208,582		210,649
Investment property	227,400		227,400
Investment in an associate	12,439		13,069
Deferred tax assets	15,788		17,073
Biological assets	684		574
Investment securities: Unquoted investments	392		392
Intangible assets	1,007,907		1,008,795
Current assets	5,563,569		5,436,667
Inventories	997,032		1,144,705
Trade and other receivables	344,660		566,299
Other current assets	122,885		118,174
Current tax asset	172,263		5,803
Derivative financial instruments	0		2,411
Investment securities: Money market funds	605,848		1,323,297
Investment securities: Debt securities	316,282		306,622
Cash and bank balances	894,949		878,446
Total assets	3,453,919		4,345,757
9,017,488		9,782,424
EQUITY AND LIABILITIES
Current liabilities
Trade and other payables	755,018		692,361
Contract liabilities	505,203		737,627
Loans and borrowings	305,551		312,704
Lease liabilities	5,562		5,542
Income tax payable	130,640		450,023
Derivative financial instruments	869		230
Net current assets	1,702,843		2,198,487
1,751,076		2,147,270
Non current liabilities
Loans and borrowings	133,501		146,002
Lease liabilities	16,349		18,127
Deferred tax liabilities	202,327		191,200
Provisions	7,265		8,448
Total liabilities	359,442		363,777
2,062,285		2,562,264
Net assets	6,955,203		7,220,160
Equity attributable to owners of the parent
Share capital	1,842,021		1,841,654
Treasury shares	(1,413,274)		(1,413,274)
Retained earnings	5,094,964		5,342,360
Other reserves	85,948		101,663
	5,609,659		5,872,403
Perpetual Sukuk	1,295,262	1,295,262
Non controlling interests	50,282	52,495
Total equity	6,955,203		7,220,160
Total equity and liabilities	9,017,488		9,782,424
Net assets per share attributable to ordinary equity holders
of the parent, RM	0.70	0.73

The Condensed Consolidated Statement of Financial Position should be read in conjunction with the

Annual Financial Report for the financial year ended 31 August 2021.

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