YOMA STRATEGIC HOLDINGS LTD. 2 7 J u l y 2 0 2 3
AGM 2023
ECONOMIC
OVERVIEW
GDP GROWTH
Myanmar's economy is projected to expand by 3.0% in FY2023 following an estimated ~18% contraction in FY2021 and a slight recovery of 3.0% in FY2022.
$90 | 15% | |||||||||||||
$80 | 10% | |||||||||||||
$70 | ||||||||||||||
GDP (USD billion) | 5% | |||||||||||||
$60 | Growth Rate % | |||||||||||||
$50 | 0% | |||||||||||||
$40 | -5% | |||||||||||||
$30 | -10% | |||||||||||||
$20 | -15% | |||||||||||||
$10 | ||||||||||||||
$0 | -20% | |||||||||||||
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | ||
GDP US$ bn | Growth |
Source: WorldBank, ADB
ECONOMIC
OVERVIEW
The business environment has shown gradual improvement in recent quarters. However, Myanmar continues to face significant challenges.
REGULATORY
Changes in government policies have created operational hurdles for businesses.
EXCHANGE RATE
Trade deficit, reduced FDI and the overall economic downturn have caused a significant depreciation of MMK.
INFLATION
Inflationary environment fueled by the depreciation of MMK, global pressures and elevated fuel prices.
HUMAN CAPITAL
Exodus of human capital seeking better opportunities abroad.
KEY FINANCIAL HIGHLIGHTS
Strong performance in core businesses:
- Record home sales*, record F&B sales and completion of the Wave Money acquisition drove revenue growth by 54.5%.
- Improved profitability with Core EBITDA increasing by 50.4% to US$17.6 million.
- Net loss was driven by fair value and impairment losses related to Yoma Central and finance costs.
REVENUE
US$ Million | +54.5% | ||
140 | |||
120
100
80
60
40
20
0
12M-Mar202212M-Mar2023
Core EBITDA
US$ Million | +50.4% | ||
20 | |||
18
16
14
12
10
8
6
4
2
0
12M-Mar202212M-Mar2023
* By number of units sold
KEY FINANCIAL
NET DEBT AND NET GEARING RATIO
HIGHLIGHTS
Significant improvement in financial position:
- Strong cash flow generation led to a substantial reduction in the Group's net debt by US$125.2 million to US$159.1 million and in the net gearing ratio to 18.6%.
- The Group anticipates net debt to decline by a further US$15-25 million in the current financial year.
US$ Million
350
300
250
200
150
100
50
0
-US$125.2 million
28.2% | 30% | |||
25%
18.6% | 20% | |||
15%
10%
5%
0%
12M-Mar2022 | 12M-Mar2023 | |
Net Debt (LHS) | Net Gearing (RHS) | |
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Disclaimer
Yoma Strategic Holdings Ltd. published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 09:35:10 UTC.
