ViTrox Berhad : Quarterly Report For The Financial Period Ended 30 June 2022

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

INTERIM FINANCIAL REPORT

FOR THE SECOND QUARTER

ENDED 30 JUNE 2022

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

CONTENTS

	Page
Condensed Consolidated Statement of Comprehensive Income…………………..	1
Condensed Consolidated Statement of Financial Position……..…………………..	2
Condensed Consolidated Statement of Changes in Equity...………………………	3-4
Condensed Consolidated Statement of Cash Flows…..…………………………….	5-6
Notes to the Interim Financial Report………………………………………………….	7-14

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE SECOND QUARTER ENDED 30 JUNE 2022

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

		(The figures have not been audited)
			INDIVIDUAL QUARTER		CUMULATIVE QUARTER
									Corresponding
					Corresponding		Current		preceding
			Current quarter	preceding quarter		period-to-date		period-to-date
			ended		ended		ended		ended
			30-Jun-22		30-Jun-21		30-Jun-22		30-Jun-21
	Note		RM'000		RM'000		RM'000		RM'000
Revenue		189,396	196,194	374,673	326,076
Other operating income		1,903	1,849	4,125	3,247
Operating expenses		(138,132)	(145,677)	(276,851)	(244,709)
Finance costs		(376)	(164)	(519)	(330)
Share of associate's loss		(246)	(428)	(460)	(553)
Profit before tax	B12	52,545	51,774	100,968	83,731
Tax (expense)/income	B5	(1,423)	(1,187)	24	(2,471)
Profit for the financial period			51,122		50,587	100,992	81,260

Other comprehensive income for the financial period:-

• Currency translation differences for the foreign operations

(representing item that may be
reclassified subsequently to profit
or loss)	(110)	246	73	733
Comprehensive income
for the financial period		51,012		50,833	101,065	81,993
Profit/(loss) for the financial period
attributable to:-
- Owners of the Company	51,351	50,640	101,375	81,336
- Non-controlling interests		(229)		(53)		(383)		(76)
		51,122		50,587	100,992	81,260
Comprehensive income for the financial
period attributable to:-
- Owners of the Company	51,241	50,886	101,448	82,069
- Non-controlling interests		(229)		(53)		(383)		(76)
		51,012		50,833	101,065	81,993
Earnings per share attributable
to owners of the Company (sen)	B10
- Basic*		5.44		5.37	10.73	8.62
- Diluted*	4.95	5.36	9.78	8.61

• Basic and diluted EPS are calculated based on the weighted average of ordinary shares which has been adjusted for bonus issue retrospectively.

The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying explanatory notes and audited financial statements for the financial year ended 31 December 2021.

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VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE SECOND QUARTER ENDED 30 JUNE 2022

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	As at		As at
	30-Jun-22		31-Dec-21
	RM'000		RM'000
	(Unaudited)		(Audited)
ASSETS
Non-current assets
Property, plant and equipment	120,223	109,414
Investment properties	40,600	40,600
Right-of-use assets	81,564	81,776
Investment in associate	21,214	21,674
Investments in club memberships, at cost	91	91
Deferred tax assets	101		1,018
	263,793	254,573
Current assets
Inventories	221,470	194,058
Receivables	301,384	231,635
Prepayments	19,254	9,447
Current tax assets	1,811	1,397
Cash and cash equivalents	299,111		255,941
	843,030		692,478
TOTAL ASSETS	1,106,823	947,051
EQUITY AND LIABILITIES
Equity
Share capital	55,899	55,455
Reserves	727,427		656,148
Equity attributable to owners of the Company	783,326	711,603
Non-controlling interests	(644)		(261)
Total equity	782,682	711,342
Non-current liabilities
Deferred tax liabilities	2,653	2,653
Loans and borrowings	62,114	27,522
Lease liabilities	160	92
Deferred income on government grants	576		586
Total non-current liabilities	65,503	30,853
Current liabilities
Derivatives	2,054	48
Payables	194,333	167,985
Dividend payable	31,456	11,807
Loans and borrowings	14,821	7,401
Lease liabilities	136	107
Contract liabilities	15,021	14,521
Current tax liabilities	817		2,987
Total current liabilities	258,638		204,856
Total liabilities	324,141	235,709
TOTAL EQUITY AND LIABILITIES
1,106,823	947,051
Net assets per ordinary share attributable to
owners of the Company (sen)	82.86	75.31	*

* Net assets value per share is calculated based on the ordinary shares which has been adjusted for bonus issue retrospectively.

The Condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying explanatory notes and audited financial statements for the financial year ended 31 December 2021.

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VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE SECOND QUARTER ENDED 30 JUNE 2022

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(The figures have not been audited)

				Non-distributable			Distributable
								Equity
				Share	Share	Currency		attributable	Non-
	Share	Revaluation	Capital	option	grant	translation	Retained	to owners of	controlling	Total
	capital	reserve	reserve*	reserve	reserve	reserve	profits	the Company	interests	equity
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
Period ended 30 June 2022
Balance at 1 January 2022	55,455	14,160	520	1,587	0	1,109	638,772	711,603	(261)	711,342
Share-based payments	0	0	0	486	911	0	0	1,397	0	1,397
Issue of shares pursuant to Employees' Share
Option Scheme	444	0	0	(110)	0	0	0	334	0	334
Dividends	0	0	0	0	0	0	(31,456)	(31,456)	0	(31,456)
Total transactions with owners	444	0	0	376	911	0	(31,456)	(29,725)	0	(29,725)
Profit/(loss) for the financial period	0	0	0	0	0	0	101,375	101,375	(383)	100,992
Currency translation differences for foreign
operations (representing other comprehensive
income for the financial period)	0	0	0	0	0	73	0	73	0	73
Comprehensive income for the financial period	0	0	0	0	0	73	101,375	101,448	(383)	101,065
Balance at 30 June 2022	55,899	14,160	520	1,963	911	1,182	708,691	783,326	(644)	782,682

* This represents the cumulative amount transferred from the retained profits of a subsidiary under the statutory requirements of the People's Republic of China.

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