Financial Performance - The group's revenue for the first quarter ended March 31, 2024, was RM 170.7 million, representing a 3.3% increase compared to RM 165.3 million in the same period last year[2][30]. - The net profit for the period was approximately RM 30.2 million, a decrease of 11.9% from RM 34.3 million in the previous year[16][30]. - The gross profit for the first quarter was RM 49.9 million, compared to RM 47.4 million in the same period last year[6]. - Operating profit for the quarter was RM 30.9 million, down from RM 33.9 million year-on-year[6]. - The group's earnings per share for the quarter were RM 1.27, compared to RM 1.44 in the previous year[5]. - The group's net profit for Q1 2024 was RM 30.2 million, down approximately 11.9% from RM 34.3 million in Q1 2023[66]. - EBITDA for Q1 2024 was RM 35.3 million, a decrease of 7.1% from RM 38.0 million in Q1 2023, primarily due to increased employee costs and R&D expenses for single-use medical devices[66]. - The company's total comprehensive income for the three months ended March 31, 2024, was 30,283 thousand MYR, compared to 34,335 thousand MYR for the same period in 2023[45]. Cash and Assets - Cash and cash equivalents as of March 31, 2024, were RM 351.1 million, down from RM 395.8 million as of December 31, 2023[3]. - The total assets as of March 31, 2024, were RM 1,140.4 million, a decrease from RM 1,159.0 million as of December 31, 2023[20]. - The cash and cash equivalents at the end of March 31, 2024, were 351,079 thousand MYR, an increase from 302,430 thousand MYR at the end of March 31, 2023[47]. - The operating cash flow for the three months ended March 31, 2024, was 1,290 thousand MYR, a significant improvement from the cash outflow of 8,438 thousand MYR in the same period of 2023[46]. Segment Performance - The group reported external customer revenue of RM 72.8 million from the automation testing equipment segment and RM 97.9 million from the factory automation solutions segment[30]. - The group’s performance in the automation testing equipment segment contributed RM 9.1 million to the profit, while the factory automation solutions segment contributed RM 23.5 million[30]. - In Q1 2024, the FAS division's revenue reached 98.8 million MYR, a 69.4% increase from 58.3 million MYR in Q1 2023, marking a record quarterly revenue for the division[32]. - The medical devices segment contributed significantly to the FAS division, with its contribution rate increasing from 35.4% in Q1 2023 to 80.2% in Q1 2024, reflecting a 310.5% growth[32]. - The automotive segment's revenue was 43.9 million MYR in Q1 2024, a significant decrease from 90.1 million MYR in Q1 2023, indicating a 51.2% decline[34]. - The revenue for the ATE division decreased from RM 111.4 million in Q1 2023 to RM 73.2 million in Q1 2024, a decline of approximately RM 38.2 million[54]. - The automotive segment contributed 60.3% to the ATE division's revenue in Q1 2024, but saw a 50.1% decrease compared to Q1 2023 due to overall weak demand in the automotive end market[54]. - The optoelectronics segment's revenue share increased significantly from 6.6% in Q1 2023 to 25.3% in Q1 2024, a growth of 152.8% driven by the delivery of flagship smart sensor testing equipment[54]. Financial Stability - Total equity increased to 880.1 million MYR from 848.0 million MYR year-over-year[44]. - Total liabilities decreased to 260.3 million MYR from 311.1 million MYR year-over-year, indicating improved financial stability[44]. - The company reported a decrease in trade receivables provision for expected credit losses of 268 thousand MYR for the three months ended March 31, 2024, compared to a provision of 720 thousand MYR in the same period of 2023[46]. Strategic Outlook - The group continues to navigate a challenging global environment with geopolitical tensions impacting economic uncertainty[28]. - The group is optimistic about the recovery of its ATE division, supported by long-term structural trends such as automotive electrification and the growth of artificial intelligence[32]. - The group is actively expanding its customer base in the medical devices segment to capture a larger market share, driven by technological advancements and industry trends[33]. - The group plans to focus resources on product development and talent training to capitalize on upcoming growth opportunities in AI, automotive, and medical equipment sectors[62]. - The group remains optimistic about the second half of the year, particularly in new generation AI, data centers, and automotive sectors despite a slight decline in order volume[67]. - The group will continue to implement targeted cost control measures while investing in R&D and production capacity to maintain a skilled workforce[62]. Administrative and Other Expenses - Administrative expenses decreased slightly from 19.4 million MYR in Q1 2023 to 19.1 million MYR in Q1 2024, primarily due to a reduction in administrative personnel costs[36]. - The group reported a foreign exchange gain of approximately 5.7 million MYR in Q1 2023, which should be considered alongside a foreign exchange loss of about 7.3 million MYR recorded in administrative expenses[35]. - Other income increased to RM 2.6 million in Q1 2024 from RM 2.1 million in Q1 2023, mainly due to bank interest income[59].
槟杰科达(01665) - 2024 Q1 - 季度业绩