Latest news with #RM143
BusinessToday
3 days ago
- Business
- BusinessToday
Capital A Records Revenue Of RM5.3 Billion For 1QFY25, PAT Stood At RM194 Million
Capital A recorded revenue of RM5.3 billion for the current quarter (1QFY25) an increase of 1.4% over the corresponding period in 2024. EBITDA for the current period grew 7.2% to RM1.1 billion. The Group recorded a Profit Before Tax of RM 231.4 million as compared to a loss before taxation of RM 249.8 million in 1Q24. Profit After Tax stood at RM194 million—inclusive of RM143 million in one-off expenses relating to non-operating aircraft—to arrive at a 4% PAT margin. Highlights of the Aviation Group: Aviation revenue in 1Q2025 totaled RM4.9 billion, relatively flat Year-on-Year ('YoY') and marginally higher Quarter-on-Quarter (' QoQ'). EBITDA came in at RM980 million, with an EBITDA margin higher YoY at 20% due to an 11% drop in fuel expenses. Depreciation and interest expense costs related to non-operating aircraft amounted to RM143 million. Excluding these, net operating profit ('NOP') stood at RM241 million. Including all items, PAT was RM126 million. Operating cash flow was positive due to overall improvement in the business. Cash flow from investing activities included the purchase of property, plant and equipment and net changes in deposits with licensed banks with a maturity period of more than 3 months and deposits pledged as securities and restricted cash. Cash flow from financing activities for the current year are proceeds from borrowings and net of payment of debt and aircraft lease. Driven by the growth described above, the Continuing Operations reported revenue of RM778.3 million for 1Q25, a 15% increase from the corresponding period last year. Segmentally, the logistics sector contributed 33% of the revenue, MRO services 27% and the online travel platform 16%. The balance 24% was contributed by our brand, inflight and other businesses. The Continuing Operations recorded a positive EBITDA of RM101.9 million in 1Q25, an increase of 24%. Net profit after tax was at RM59.1 million, an increase of RM11.0 million. This improvement included unrealised foreign exchange gains of RM20.6 million, higher brand licence income and improved operating performance across the various segments. Related
New Straits Times
27-05-2025
- Business
- New Straits Times
KLK's earnings set to improve as derivatives losses recede, says CIMB Securities
KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) is expected to register a higher second half of (2H) financial year 2025 (FY25) net profit in absence of derivatives losses, said CIMB Securities Research. The research house said KLK lowered its FY25 fresh fruit bunch (FFB) output guidance to mid-single-digit growth but remains positive about 2H prospects, supported by improved production. "This suggests that 2HFY9/25 production could account for about 52 per cent of full-year output, supporting earnings momentum, although this will be partly offset by lower current crude palm oil (CPO) prices," it said. Meanwhile, CIMB Securities said KLK recorded a 2.5 per cent year on year (yoy) decline in ex-mill CPO production costs to RM2,100/tonne in 1HFY25, driven by lower fertiliser prices. However, the firm said refining margins are expected to remain weak, the glove division is still loss-making, and gas supply disruptions have affected oleochemical plant efficiency in third quarter (Q3) FY25. "KLK shared that the RM252 million in derivatives losses in 1HFY25 was mainly related to unrealised US dollar hedges of RM143 million. "We maintain our Hold call with an unchanged target price of RM21.50," it added.
BusinessToday
16-05-2025
- Business
- BusinessToday
99 Speedmart Poised To Weather Macroeconomic Challenges
RHB Investment Bank Bhd (RHB Research), CIMB Investment Bank Bhd (CIMB Securities) and Hong Leong Investment Bank bHD (HLIB) have all reiterated their BUY calls on 99 Speed Mart Retail Holdings Bhd following a strong set of first-quarter results for the financial year ending March 2025 (1Q25), with target prices of RM2.45, RM2.60 and RM2.98 respectively. Analysts said 99SMART delivered solid earnings driven by festive demand, continued outlet expansion and better operating efficiencies, with all three houses noting that the RM143 million core net profit – up 7–8% year-on-year (YoY) – came in within expectations, representing around a quarter of full-year forecasts. RHB Research remarked that the strong topline growth of 8% YoY to RM2.6 billion was supported by the addition of 246 new outlets over the past year, bringing the total to 2,833 stores. Improved gross profit margin of 12%, aided by supplier-driven promotional incentives, helped counteract higher operating expenses stemming from the implementation of the new minimum wage. The research house reported its DCF-derived target price was raised from RM2.39 to RM2.45, implying 35x FY25F P/E, supported by the group's domestic-centric profile and resilience amid external policy uncertainties such as the US tariff outlook. CIMB Securities also kept its projections intact, noting that while EBITDA margin dipped 0.2 percentage points YoY to 10% due to wage-related cost pressure, this was offset by top-line growth and a better sales mix. Analysts anticipate FY25 core earnings to grow 11.9% YoY, underpinned by 8.8% revenue growth from a projected 250 new store openings and same-store sales growth of 1.4%. CIMB Securities maintained its target price at RM2.60 based on a 33x CY26F P/E, arguing the premium valuation is justified by superior return on equity (ROE) and its essential goods-focused product offering. HLIB echoed the positive sentiment, highlighting that 99SMART's 1Q25 core profit of RM142.7 million showed a 12% quarter-on-quarter (QoQ) growth and 7% YoY improvement, also backed by festive-related sales and supplier incentives. With expansion plans to add 250 more outlets in 2025 and a new distribution hub in Cyberjaya to bolster logistics, HLIB expects the group's growth momentum to remain intact. Its RM2.98 target price is pegged to a 45x FY25 P/E multiple, reflecting confidence in the group's scale advantage and recurring revenue model. The company declared an interim dividend of 2.25 sen per share for the quarter. Analysts noted that this was consistent with expectations, with CIMB highlighting that part of the payout may reflect deferred FY24 dividends following 99SMART's listing in September 2024. Looking ahead, all three research houses said that 99SMART is poised to benefit from rising disposable income amid higher minimum wages and stronger government support for lower-income households. The analysts believe the group's wide-reaching store network and positioning as a value-for-money essential goods retailer place it in a favourable spot to weather macroeconomic challenges and shifting consumer preferences. Related
