YTL Corp executive chairman Tan Sri Francis Yeoh Sock Ping
PETALING JAYA: YTL Corp Bhd
reported an earnings before interest, tax, depreciation and amortisation (ebitda) of RM2.1bil for the quarter ended Sept 30, 2024 (1Q25), on the back of RM7.77bil in revenue.
In a statement, the conglomerate said the ebitda of RM2.1bil for 1Q25 came in lower compared to the RM2.4bil in the previous corresponding quarter.
However, its executive chairman Tan Sri Francis Yeoh Sock Ping noted that the group achieved a “good set” of results for 1Q25, with revenue across most divisions remaining stable or registering growth.
“Operating profit remained healthy, registering a 12% increase compared to the preceding quarter, excluding non-cash unrealised foreign exchange losses of RM289.5mil for the current quarter and the one-off fair value gain of RM203.5mil due to the acquisition of shares in Ranhill Utilities Bhd recognised in the preceding quarter,” he noted.
For 1Q25, YTL Corp recorded revenue of RM7.77bil compared to RM8.32bil in the preceding quarter ended June 30, 2024 (4Q24).
Profit before tax for the quarter under review came in at RM899.2mil compared to RM1.26bil 4Q24.
Meanwhile, YTL Corp subsidiary, YTL Power International Bhd, reported an ebitda of RM1.5bil for 1Q25, compared to RM1.9bil in 1Q24.
YTL Power’s revenue for the quarter was RM5.68bil, down from RM6.31bil in 4Q24.
Profit before tax stood at RM664.8mil for 1Q25 compared to RM1.14bil in the preceding quarter.
Yeoh, who is also the executive chairman for YTL Power, noted that YTL Power made a “strong start” to its financial year ending June 30, 2025 (FY25).
“Operating profit increased 2% this quarter compared to the preceding quarter, after adjusting for non-cash items,” he added.
Meanwhile, YTL Corp’s indirect unit, Malayan Cement Bhd, saw a 17% increase in ebitda to RM339.2mil for 1Q25 compared to RM291.2mil in the previous corresponding quarter.
Malayan Cement’s revenue for the quarter under review rose by 2% to RM1.17bil, up from RM1.15bil in the corresponding period last year.
Profit before tax grew 31% to RM203.1mil, from RM154.6mil in 1Q24, while profit after tax surged 45% to RM139.6mil, compared to RM96.1mil in the same period last year.
Yeoh, also the executive chairman of Malayan Cement, attributed the positive results to stable revenue, with the ready-mixed concrete segment contributing a higher share due to increased demand for high-grade ready-mixed concrete and bespoke products.
“The increase in profit before tax was mainly the result of ongoing improvements in operational efficiencies and lower production costs,” he noted.
As for its real estate investment trust (REIT) arm YTL Hospitality REIT, the REIT recorded a slight increase in revenue to RM132.7mil for 1Q25 compared to the RM130.9mil in the previous corresponding quarter.
Net property income (NPI) also grew marginally to RM68.9mil, up from RM68.3mil in 1Q24, while income available for distribution was approximately RM26.5mil, about the same as the previous year’s quarter.
Commenting on the performance, Yeoh, the executive chairman of the REIT’s manager Pintar Projek Sdn Bhd, explained that hotel segment revenue for the quarter remained consistent with the previous year.
However, NPI was slightly impacted by higher property operating expenses due to the guest room maintenance programme at the Sydney Harbour Marriott.
“Meanwhile, the property rental segment registered higher revenue and NPI due mainly to new rental income from Hotel Stripes, step-up rental income from the renewal of the lease agreement with the JW Marriott Hotel and additional rental income from the AC hotels in Kuala Lumpur, Penang and Kuantan, following completion of refurbishment works in the preceding quarter,” he added.
