1st Quarter FY2023 Financial Results
Hartalega Holdings Berhad
Analyst Briefing
9 August 2022
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Q1 FY2023 Financial Results Overview
Q1 FY23 | Q4 FY22 | QoQ | Q1 FY22 | YoY | |||||
Change | Change | ||||||||
Sales Volume | 7.3 | 7.3 | - | 10 | (27%) | ||||
('bil pieces) | |||||||||
Utilisation Rate | 69% | 69% | 88%* | ||||||
Revenue | 846 | 969 | (13%) | 3,902 | (78%) | ||||
(RM'mil) | |||||||||
Operating | 153 | 207 | (26%) | 2,851 | (95%) | ||||
Profit (RM'mil) | |||||||||
OP Margin | 18.1% | 21.4% | 73.1% | ||||||
PBT (RM'mil) | 134 | 218 | (39%) | 2,879 | (95%) | ||||
PBT Margin | 15.8% | 22.5% | 73.8% | ||||||
PAT (RM'mil) | 91 | (190) | 148% | 2,262 | (96%) | ||||
PAT Margin | 10.8% | (19.6%) | 58.0% | ||||||
* discounting volume from shipment delay in previous quarter | |||||||||
3 | This document is strictly private, confidential and only for the information of the intended recipients. This document should not be copied, | ||||||||
distributed or reproduced in whole or in part, nor passed to any third party without the prior written consent of Hartalega. |
Q1 FY2023 Financial Results Overview
Revenue (RM'mil) | PBT (RM'mil) | PAT (RM'mil) |
969 | 846 |
4Q'22 | 1Q'23 |
218 | 91 | |
134 | ||
4Q'22 | 1Q'23 | |
4Q'22 | 1Q'23 |
Factors affecting the quarter: | (190) |
Continued ASP moderation in the quarter due to global market oversupply situation
Margin compression resulting from higher overall operating costs amid declining ASP
PAT was higher following absence of the one-off tax expense provision for Prosperity Tax (Cukai Makmur) recorded in preceding Q4'22
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distributed or reproduced in whole or in part, nor passed to any third party without the prior written consent of Hartalega. |
Strong headwinds for the sector
Market competition continues amid rising costs
Billion pieces
Estimated Industry Supply - Key Players
400 | |||
350 | |||
40 | 42 | ||
300 | |||
250 | |||
33 | 83 | 83 | |
20024
150
100 | 182 | 198 | 198 | ||||
50 | |||||||
- | |||||||
2020 | 2021 | 2022 | |||||
Malaysia | China | Thailand | |||||
Continued strong market competition and excess capacities from major players capped
upward trajectory for ASP
Global inflationary pressure resulted in higher
operating costs environment
- Higher energy costs
(increase in electricity & natural gas tariffs in 2022)
- Increased labour cost with new minimum wage
standard in Malaysia starting 1 May 2022
(RM1,200 → RM1,500)
Source: Company estimates, press releases & announcements | |
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distributed or reproduced in whole or in part, nor passed to any third party without the prior written consent of Hartalega. |
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Hartalega Holdings Bhd published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 09:35:01 UTC.