ViTrox Berhad : Quarterly Report For The Financial Period Ended 31 March 2022

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

INTERIM FINANCIAL REPORT

FOR THE FIRST QUARTER

ENDED 31 MARCH 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 ………………………………………………… .	7-13

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2022

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(The figures have not been audited)

INDIVIDUAL QUARTER CUMULATIVE QUARTER

Corresponding

reclassified subsequently to profit

or loss)

Comprehensive income

for the financial period

Profit/(loss) for the financial period

attributable to:-

- Owners of the Company

- Non-controlling interests

Comprehensive income for the financial

period attributable to:-

- Owners of the Company

- Non-controlling interests

Earnings per share attributable

to owners of the Company (sen) B10

- Basic*

- Diluted*

Current quarter	preceding
ended	quarter ended
31-Mar-22	31-Mar-21
Note	RM'000	RM'000
185,277	129,882	185,277	129,882
2,222	1,398	2,222	1,398
(138,719)	(99,032)	(138,719)	(99,032)
(143)	(166)	(143)	(166)
(214)	(125)	(214)	(125)
B12	48,423	31,957	48,423	31,957
B5	1,447	(1,284)	1,447	(1,284)
49,870	30,673	49,870	30,673
183	487	183	487
50,053	31,160	50,053	31,160
50,024	30,696	50,024	30,696
(154)	(23)	(154)	(23)
49,870	30,673	49,870	30,673
50,207	31,183	50,207	31,183
(154)	(23)	(154)	(23)
50,053	31,160	50,053	31,160
5.30	3.25	5.30	3.25
5.29	3.25	5.29	3.25

Current preceding period-to-date period-to-date ended ended 31-Mar-22 31-Mar-21 RM'000 RM'000

Revenue

Other operating income

Operating expenses

Finance costs

Share of associate's loss

Profit before tax

Tax income/(expense)

Profit for the financial period

Other comprehensive income

for the financial period:-

- Currency translation differences

for the foreign operations

(representing item that may be

Corresponding

* 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 FIRST QUARTER ENDED 31 MARCH 2022

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at	As at
31-Mar-22	31-Dec-21
RM'000	RM'000
(Unaudited)	(Audited)
ASSETS
Non-current assets
Property, plant and equipment	113,760	109,414
Investment properties	40,600	40,600
Right-of-use assets	81,591	81,776
Investment in associate	21,460	21,674
Investments in club memberships, at cost	91	91
Deferred tax assets	101	1,018
257,603	254,573
Current assets
Inventories	209,295	194,058
Receivables	279,271	231,635
Prepayments	12,086	9,447
Current tax assets	1,837	1,397
Cash and cash equivalents	280,143	255,941
782,632	692,478
TOTAL ASSETS	1,040,235	947,051
EQUITY AND LIABILITIES
Equity
Share capital	55,514	55,455
Reserves	706,651	656,148
Equity attributable to owners of the Company	762,165	711,603
Non-controlling interests	(415)	(261)
Total equity	761,750	711,342
Non-current liabilities
Deferred tax liabilities	2,653	2,653
Loans and borrowings	62,775	27,522
Lease liabilities	66	92
Deferred income on government grants	582	586
Total non-current liabilities	66,076	30,853
Current liabilities
Derivatives	219	48
Payables	179,021	167,985
Dividend payable	0	11,807
Loans and borrowings	14,059	7,401
Lease liabilities	102	107
Contract liabilities	18,294	14,521
Current tax liabilities	714	2,987
Total current liabilities	212,409	204,856
Total liabilities	278,485	235,709
TOTAL EQUITY AND LIABILITIES	1,040,235	947,051
Net assets per ordinary share attributable to
owners of the Company (sen)	80.69	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.

2

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2022

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(The figures have not been audited)

Distributable
Equity
Currency	attributable	Non-
Share	Revaluation	Capital	option	translation	Retained	to owners of	controlling	Total
capital	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
Period ended 31 March 2022
Balance at 1 January 2022	55,455	14,160	520	1,587	1,109	638,772	711,603	(261)	711,342
Share-based payments	0	0	0	311	0	0	311	0	311
Issue of shares pursuant to Employees' Share
Option Scheme	59	0	0	(15)	0	0	44	0	44
Total transactions with owners	59	0	0	296	0	0	355	0	355
Profit/(loss) for the financial period	0	0	0	0	0	50,024	50,024	(154)	49,870
Currency translation differences for foreign
operations (representing other comprehensive
income for the financial period)	0	0	0	0	183	0	183	0	183
Comprehensive income for the financial period	0	0	0	0	183	50,024	50,207	(154)	50,053
Balance at 31 March 2022	55,514	14,160	520	1,883	1,292	688,796	762,165	(415)	761,750

Non-distributable

* 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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