 |
| UEM Edgenta Berhad |
KUALA LUMPUR, Feb 28 (Bernama) -- UEM Edgenta Berhad (UEM Edgenta), a leading Asset Management and Infrastructure Solutions company in the region, today announces its unaudited financial results for the financial year ended 31 December 2024 (“FY2024”). The Company recorded Year-on-Year (“YoY”) revenue growth of 5.8% increasing from RM2.9 billion to RM3.0 billion compared to the previous year. In line with its commitment to delivering shareholder value, UEM Edgenta has declared a single-tier interim dividend of 4.0 sen per ordinary share for FY2024.
The Company reported a strong improvement in profitability, with profit after tax (“PAT”) rising by 70.6% to RM51.4 million compared to RM30.1 million in FY2023. The Company’s Normalised PAT (excluding Exceptional Items) has improved significantly from RM31.3 million in FY2023 to RM66.4 million in FY2024, recording 112.1% increase. This solid growth was primarily driven by expansion in international business through major contract renewals and new contract wins, along with enhanced operational efficiencies and strategic cost management initiatives implemented throughout the year.
In the fourth quarter of FY2024, UEM Edgenta recorded a revenue of RM819.4 million, up from RM793.2 million in the preceding quarter. Net profit for the quarter stood at RM17.9 million, marking a 72.1% Quarter-on-Quarter (“QoQ”) increase from RM10.4 million in Q3 FY2024. Cost optimisation programmes at both the operating and corporate levels, coupled with a procurement cost savings programme, have been instrumental in driving the positive performance.
Following the company’s success in achieving RM100 million savings under Edgenta of The Future 2025 (EoTF25) a year ahead of schedule, additional cost-saving initiatives totalling RM150 million were launched in early 2024. As of 31 Dec 2024, company achieved savings of RM41.1 million which signified its commitment to operational excellence towards delivering sustainable value to its stakeholders in an increasingly challenging business environment.
Internationally, the company has successfully expanded its service offerings beyond the Healthcare sector in Singapore into high-end Hospitality sector and Grade A Office Buildings. Contributing approximately RM20.0 million to UEM Edgenta's order book as of end 2024, the strategic acquisition of UAE-based Kaizen Group provides the essential platform for the company to scale up the property management market value chain in the Middle East region. In the fourth quarter of FY2024, the company launched the MEEM Facility Management Graduate Training Program, an impactful initiative by UEM Edgenta Berhad which is a testament to our strong partnership with the Kingdom of Saudi Arabia.
UEM Edgenta’s strong financial performance was also contributed by execution leadership in the domestic market which secured new contract wins for the company in key infrastructure projects namely the Pan Borneo Highway new work packages and the North South Expressway lane widening in Johor. Committed towards supporting the national sustainability agenda, more than 50% of the company’s RM100 million Sustainable Zero Capex programme has been earmarked for utilisation by its clients.
Commenting on the results, UEM Edgenta’s Managing Director and Chief Executive Officer, Syahrunizam Samsudin, highlighted the company’s resilience amid economic headwinds. “Despite macroeconomic challenges and inflationary pressures, we have maintained steady revenue growth and enhanced profitability. This reflects our agility in adapting to market dynamics and the effectiveness of our strategic initiatives in digital transformation, operational excellence, and regional expansion,” he stated.
“As we chart our path forward, we remain steadfast in leveraging technology and innovation to enhance service excellence while embedding sustainability across our operations. Our commitment to being a reliable partner drives us to strengthen our regional footprint and deepen collaborations with key stakeholders, ensuring long-term value creation for our shareholders, clients, and the communities we serve. With a strong foundation and a clear strategic direction, we are confident in sustaining our growth momentum and navigating the evolving market landscape with agility and resilience," he added
Looking ahead to FY2025, UEM Edgenta remains committed to leveraging its core strengths to seize emerging opportunities in high-growth markets. With a strategic focus on operational excellence through technology and innovation, UEM Edgenta aims to drive growth through service and product offerings which are pivoted by its proprietary digital asset management platform, Asseto, which is designed to optimize the lifecycle management of assets. It integrates multiple asset management functions, leveraging data analytics, automation, and Internet of Things (IoT) technologies to enhance efficiency, reduce costs, and improve decision-making for its clients. Continuously strengthening its delivery in smart and sustainable asset management services, UEM Edgenta is poised to further expand its market footprint across the domestic and international markets it currently operates in which include Singapore, Taiwan, United Arab Emirates, Kingdom of Saudi Arabia and Indonesia.
For further information on UEM Edgenta, log on to https://www.uemedgenta.com.
About UEM Edgenta Berhad
UEM Edgenta (www.uemedgenta.com) is a leading Asset Management and Infrastructure Solutions company in the region and is a subsidiary of the UEM Group. Listed on the Main Market of Bursa Malaysia Securities Berhad (KLSE: EDGENTA), our expertise covers Healthcare Support and Property & Facility Solutions, and Infrastructure Services covering Expressways and Rail, including project management & engineering design capabilities via our Opus Consultants business arm.
Guided by our ‘Edgenta of the Future 2025’ vision, UEM Edgenta’s full suite of business services is driven by technological advancements throughout the business assets’ life cycle including consultancy, procurement & construction planning, operations & maintenance, as well as optimisation, rehabilitation and upgrades. Digital solutions across multiple industries positions UEM Edgenta as a powerhouse to become a Technology-Enabled Solutions Company with a focus on healthcare by 2025.
UEM Edgenta has operational presence in Malaysia, Singapore, Indonesia, Taiwan, United Arab Emirates and The Kingdom of Saudi Arabia.
Issued by UEM Edgenta Berhad
SOURCE: UEM Edgenta Berhad
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Wan Laila Fatihah
Head, Corporate Communication
Email: wanlaila@edgenta.com
Name: Ali Baizuri Razali
Manager, Media Relations
Email: alibaizuri@edgenta.com
--BERNAMA
No comments:
Post a Comment