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Multi Ways (MWG) - 2023 Q2 - Quarterly Report
MWGMulti Ways (MWG)2023-05-16 20:30

Financial Performance - Multi Ways Holdings Limited reported fiscal year 2022 revenue of approximately 38.4million,representinga1538.4 million, representing a 15% increase year-over-year from approximately 33.4 million in 2021[3] - Gross profit for the fiscal year 2022 was approximately 9.7million,withaprofitmarginof25.49.7 million, with a profit margin of 25.4%, compared to a margin of 28% in 2021[3] - Net income for fiscal year 2022 was approximately 1 million, a decrease from approximately 1.8millionin2021,primarilyduetoincreasedsellingandadministrativeexpenses[3]RevenueSources−41.21.8 million in 2021, primarily due to increased selling and administrative expenses[3] Revenue Sources - 41.2% of total revenue in 2022 was generated from customers in Singapore, while 23.6% came from Australia, and 35.2% from other countries[3] Cash Flow and Assets - Cash provided by operating activities decreased to approximately 0.8 million in 2022, down from approximately 5.6millionin2021[7]−Cashandcashequivalentsdecreasedtoapproximately5.6 million in 2021[7] - Cash and cash equivalents decreased to approximately 1.0 million as of December 31, 2022, compared to approximately 1.5millionin2021[7]−Workingcapitaldecreasedtoapproximately1.5 million in 2021[7] - Working capital decreased to approximately 2.9 million at the end of 2022, down from approximately 4.4millionattheendof2021[7]−TotalassetsasofDecember31,2022,wereapproximately4.4 million at the end of 2021[7] - Total assets as of December 31, 2022, were approximately 52.8 million, while total liabilities were approximately 46.5million[7]Shareholders′Equity−Shareholders′equityincreasedtoapproximately46.5 million[7] Shareholders' Equity - Shareholders' equity increased to approximately 6.3 million as of December 31, 2022, compared to approximately $5.4 million in 2021[7] Future Plans - The company plans to invest in expanding and renewing its fleet of heavy construction equipment to meet growing demand following its initial public offering[6]