Financial Performance - The group's revenue for the fiscal year ended December 31, 2023, was RM 691.9 million, an increase of 15.2% compared to the previous year[2]. - The operating profit for the fiscal year was RM 143.1 million, compared to RM 136.5 million in the previous year, reflecting a growth of 4.8%[5]. - The net profit for the fiscal year was RM 142.2 million, an increase from RM 133.3 million in the previous year, representing a growth of 6.7%[5]. - Basic earnings per share for the fiscal year was RM 5.97, compared to RM 5.59 in the previous year, indicating an increase of 6.8%[5]. - The company reported a gross profit of RM 209.6 million for the fiscal year, compared to RM 185.5 million in the previous year, marking an increase of 13.0%[5]. - Other income for the fiscal year was RM 17.9 million, compared to RM 11.4 million in the previous year, reflecting a growth of 56.1%[5]. - Total revenue for the year ended December 31, 2023, was RM 691.85 million, an increase of 15.2% from RM 600.59 million in 2022[13]. - Gross profit for 2023 was RM 209.64 million, up from RM 185.45 million in 2022, reflecting a growth of 13.0%[13]. - Net profit for the year was RM 142.23 million, representing a 6.7% increase compared to RM 133.30 million in the previous year[13]. - Basic earnings per share increased to 5.97 sen in 2023 from 5.59 sen in 2022[13]. - The group recorded a net profit of MYR 142.2 million in 2023, up 6.7% from MYR 133.3 million in 2022, with EBITDA increasing by 10.7% to MYR 158.7 million[134]. Cash and Liquidity - Cash and cash equivalents as of December 31, 2023, amounted to RM 395.8 million, up from RM 328.6 million the previous year[3]. - Cash and cash equivalents increased to RM 395.80 million in 2023 from RM 328.63 million in 2022, a rise of 20.4%[18]. - The net cash generated from operating activities increased to 216,751 thousand MYR in 2023, up from 59,947 thousand MYR in 2022, representing a significant growth[43]. - The group's cash and cash equivalents increased by 20.4% to MYR 395.8 million as of December 31, 2023, compared to MYR 328.6 million in 2022[136]. - The company has no bank borrowings as of December 31, 2023, maintaining a robust working capital of MYR 502.9 million[136]. Equity and Liabilities - Total equity as of December 31, 2023, was RM 847.97 million, up from RM 736.71 million the previous year[7]. - Total liabilities increased to RM 311.07 million from RM 264.95 million in the previous year[7]. - The company’s total liabilities decreased to 27,557 thousand MYR in 2023 from 26,904 thousand MYR in 2022, indicating improved financial stability[44]. - The company recorded a contract liability of 137.9 million MYR from manufacturing order deposits, up from 100.6 million MYR in 2022[109]. Market Segments and Growth - Revenue from external customers in the automation testing equipment segment was RM 452.25 million, while the factory automation solutions segment generated RM 239.60 million[34]. - The automotive sector generated revenue of 329.39 million Malaysian Ringgit, accounting for 47.6% of total revenue, up from 42.4% in 2022[163]. - The medical instruments segment saw revenue increase to 148.20 million Malaysian Ringgit, representing 21.4% of total revenue, compared to 14.1% in the previous year[163]. - The automotive segment within the ATE division saw a significant contribution of 71.7%, growing by 31.9% year-on-year[141]. - The medical instruments sector experienced an astonishing year-on-year growth of 98.7%, contributing 61.9% to the FAS division's revenue in 2023[129]. - The semiconductor division's revenue grew by 17.4% in 2023, contributing 21.7% to the ATE division's overall performance[142]. - The company’s semiconductor division experienced double-digit revenue growth despite overall challenges in the technology sector in 2023[104]. - The company anticipates strong growth in the medical instruments segment in 2024, driven by automation in medical manufacturing[139]. Investments and Future Plans - The company plans to continue expanding its market presence and investing in new product development to drive future growth[12]. - The company plans to complete the construction of its third factory by Q1 2025, with the first two phases covering approximately 720,000 square feet currently underway[150]. - The company is actively pursuing CE mark registration for its IVC product, with plans to complete this by the end of 2024, facilitating entry into European and Middle Eastern markets[159]. - The company has strategically invested in medical technology, focusing on automation and single-use medical device design and manufacturing[121]. - The establishment of a new international business office in Germany in March 2023 aims to enhance operations in Europe, particularly in the automotive and medical technology sectors[122]. Dividends - The board proposed a final dividend of HKD 0.02 per share, subject to shareholder approval at the upcoming annual general meeting[14]. - The company declared a proposed final dividend of 0.02 HKD per ordinary share for both 2023 and 2022, with total dividends for 2023 amounting to 27,557 thousand MYR[66]. - The company has proposed a final dividend of HKD 0.02 per share for the fiscal year ending December 31, 2023, consistent with the previous year[153]. Operational Efficiency - The overall gross margin for 2023 was 30.3%, slightly down from 30.9% in 2022, maintaining over 30% gross margin for six consecutive years since the company's listing[130]. - The group's administrative expenses increased from MYR 55.1 million in 2022 to MYR 76.2 million in 2023, a rise of MYR 21.1 million, primarily due to foreign exchange losses of MYR 18.6 million compared to MYR 8.4 million in 2022[133]. - The company achieved a revenue of 691.9 million MYR for the fiscal year 2023, a 15.2% increase from 600.6 million MYR in 2022[115]. - The company recognized government grants totaling 725 thousand MYR in 2023, an increase from 479 thousand MYR in 2022[61]. Challenges and Risks - The company incurred a foreign exchange loss of 18,613 thousand MYR in 2023, compared to a gain of 756 thousand MYR in 2022, indicating a substantial negative shift[80]. - The electronic optics segment's contribution decreased from 19.5% to 9.5% due to weak demand in the consumer electronics and smartphone markets[172]. - The smartphone shipment volume in 2023 was 1.14 billion units, a decline of 4.0% compared to 2022, impacting the electronic optics segment[172].
槟杰科达(01665) - 2023 - 年度业绩