Sime Darby : Third Quarter Ended 31 March 2023 Results Announcement

FY2023 Results Announcement

Analyst Briefing: Third Quarter ended 31 March 2023 24 May 2023

Sime Darby Berhad Group Results

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FY2023 Financial Results

Reported Profit: 9 months ended 31 March 2023

In RM Million	9M FY2023	9M FY2022	YoY %
Revenue	35,002	31,651	10.6
PBIT	1,225	1,287	(4.8)
Finance income	47	28
Finance costs	(206)	(102)
Profit before tax	1,066	1,213	(12.1)
Taxation	(308)	(336)
Profit from continuing operations	758	877	(13.6)
Non-controlling interests	(40)	(81)
Net profit from continuing operations	718	796	(9.8)
Net profit from discontinued operations1	118	29
Net profit attributable to owners of the Company	836	825	1.3

1. The Logistics segment is classified as discontinued operations up to the completion of the Group's divestment of the entire equity interest in the Weifang port companies on 7 November 2022.

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FY2023 Financial Results

Core Profit: 9 months ended 31 March 2023

In RM Million	9M FY2023	9M FY2022	YoY %
Reported PBIT from continuing operations	1,225	1,287	(4.8)
Adjustments:
• Forex gain on settlement of net investment	(19)	-
• Income from legacy corporate exercise	-	(12)
Core PBIT from continuing operations	1,206	1,275	(5.4)
Net finance costs	(159)	(74)
Taxation	(308)	(333)
Non controlling interests	(40)	(81)
Core Net Profit from continuing operations	699	787	(11.2)
Core Net (Loss)/Profit from discontinued operations	(8)1	29
Core Net Profit	691	816	(15.3)

Adjustment:

1. Excludes net gain on disposal of the Weifang port companies and adjustments for depreciation, impairment and deferred tax (total of RM126m)

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FY2023 Financial Results

Segmental PBIT: 9 months ended 31 March 2023

		9M FY2023			9M FY2022		Reported	Core PBIT
In RM Million							PBIT
	Reported	Adjustments	Core	Reported	Adjustments	Core	YoY %	YoY %
	PBIT	PBIT	PBIT	PBIT
Continuing operations
Industrial	676	-	676	523	-	523	29.3	29.3
Motors	497	-	497	748	-	748	(33.6)	(33.6)
Healthcare	48	-	48	37	-	37	29.7	29.7
Others	51	-	51	30	(12)	18	70.0	>100.0
Corporate	(66)	-	(66)	(51)	-	(51)	(29.4)	(29.4)
Forex	19	(19)	-	-	-	-	-	-
PBIT from
continuing	1,225	(19)	1,206	1,287	(12)	1,275	(4.8)	(5.4)
operations
PBIT from	112	(122)1	(10)	20	-	20
discontinued
operations
PBIT	1,337	(141)	1,196	1,307	(12)	1,295	2.3	(7.6)

Adjustment:

1. Net gain on disposal of the Weifang port companies and adjustments for impairment and depreciation

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