Press Releases
YTL Corp’s 2nd Quarter Revenue Increases 4% to RM8.1 Billion (US$1.8 Billion)
Profit After Tax Grows 57% to RM1.0 Billion (US$228 Million)
Kuala Lumpur, Thursday 20 February 2025
YTL Corporation Berhad recorded a 4% increase in revenue to RM8,058.9 million (US$1,806.9 mn) for the 3 months ended 31 December 2024 compared to RM7,773.9 million (US$1,743.0 mn) for the previous 3 months ended 30 September 2024.
Profit before tax rose 44% to RM1,296.1 million (US$290.6 mn) for the quarter under review compared to RM899.2 million (US$201.6 mn) for the preceding quarter, whilst profit after tax increased 57% to RM1,018.8 million (US$228.4 mn) this quarter over RM650.0 million (US$145.7 mn) last quarter.
YTL Group Executive Chairman Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, “The Group reported robust results for the second quarter of the 2025 financial year. The increase in revenue was mainly due to our cement, property and hotels segments, whilst the higher profit was driven primarily by consolidation of results of NSL Ltd, acquired during the current quarter under our cement segment, unrealised foreign exchange gains and improved performance of our hotels segment”.
For the cumulative 6 months ended 31 December 2024, the Group’s EBITDA (earnings before interest, tax, depreciation and amortisation) remained steady at RM4.7 billion, compared to RM4.8 billion for the previous corresponding 6 months ended 31 December 2023.
Comparison with Preceding Quarter
| 31.12.2024 RM million |
30.09.2024 RM million |
Variance % |
|
| Revenue | 8,058.9 | 7,773.9 | +4 |
| Profit before tax | 1,296.1 | 899.2 | +44 |
| Profit after tax | 1,018.8 | 650.0 | +57 |
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers 2nd Quarter Revenue of RM5.7 Billion & 51% Growth in Profit After Tax to RM773 Million
YTL Power recorded revenue of RM5,679.8 million for the 3 months ended 31 December 2024 compared to RM5,683.5 million for the preceding 3 months ended 30 September 2024. Profit after tax rose 51% to RM773.1 million this quarter over RM510.6 million last quarter.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, “For the second quarter under review, we have continued to see good performance, with higher profit driven mainly by unrealised foreign exchange gains.
“For the cumulative half-year to date, the Group continued to make sound progress on projects under development, including the YTL Green Data Center Park in Kulai, Johor. Meanwhile, in ongoing operations, Singapore’s power generation market has normalised following the exceptional performance seen last year and remains stable, whilst our water and sewerage businesses in the UK and Malaysia and telecommunications segment saw better performance for the period under review.”
For the cumulative 6 months ended 31 December 2024, EBITDA (earnings before interest, tax, depreciation and amortisation) stood at RM3.4 billion compared to RM3.6 billion for the previous corresponding 6 months ended 31 December 2023.
Comparison with Preceding Quarter
| 31.12.2024 RM million |
30.09.2024 RM million |
Variance % |
|
| Revenue | 5,679.8 | 5,683.5 | 0 |
| Profit before tax | 938.7 | 664.8 | +41 |
| Profit after tax | 773.1 | 510.6 | +51 |
MALAYAN CEMENT BERHAD
Malayan Cement Registers 2nd Quarter Revenue of RM1.2 Billion, Profit After Tax Increases 32% to RM185 Million
Interim Dividend of 5.0 Sen per Share Declared
Malayan Cement’s revenue stood at RM1,153.1 million for the 3 months ended 31 December 2024 compared to RM1,170.4 million for the previous 3 months ended 30 September 2024. Profit before tax increased 26% to RM256.0 million for the 3 months under review compared to RM203.1 million for the preceding quarter, whilst profit after tax rose 32% to RM184.9 million this quarter over RM139.6 million last quarter.
The Board of Directors of Malayan Cement declared an interim dividend of 5.0 sen per ordinary share in respect of the financial year ending 30 June 2025, the book closure and payment dates for which are 6 March 2025 and 27 March 2025, respectively.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, “Whilst revenue for the current quarter declined marginally due mainly to lower domestic cement sales, higher profit resulted primarily from a gain on the compulsory acquisition of land, as well as lower
borrowing costs.
“The Group’s ongoing efforts to reduce costs and improve efficiency continued to yield positive results for the financial year to date, supported by strong leadership and a strategic focus on innovation. All business units contributed to the improved performance, reflecting the strength of the Group’s diversified portfolio. Notably, the ready-mix business continues to excel by delivering high-value, bespoke products tailored to the evolving needs of the construction industry.”
For the cumulative 6 months ended 31 December 2024, EBITDA (earnings before interest, tax, depreciation and amortisation) increased 16% to RM710.6 million compared to RM613.8 million for the previous corresponding 6 months ended 31 December 2023.
Comparison with Preceding Quarter
| 31.12.2024 RM million |
30.09.2024 RM million |
Variance % |
|
| Revenue | 1,153.1 | 1,170.4 | -1 |
| Profit before tax | 256.0 | 203.1 | +26 |
| Profit after tax | 184.9 | 139.6 | +32 |
YTL HOSPITALITY REIT
YTL Hospitality REIT 2nd Quarter Revenue increases 11% to RM147 Million
Distribution of 2.9128 Sen per Unit Declared
YTL Hospitality REIT’s revenue increased 11% to RM147.5 million for the 3 months ended 31 December 2024 compared to RM132.7 million for the previous 3 months ended 30 September 2024. Net property income (NPI) grew 15% to RM79.5 million for the current quarter under review compared to RM68.9 million last quarter, whilst income available for distribution stood at RM25.8 million for the current quarter, compared to RM26.5 million for the preceding quarter.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “The hotel segment, comprising the Australia portfolio, registered an increase in revenue and NPI mainly driven by corporate groups, conferences and large-scale and major events including concerts, festivals and sporting activities, which contributed to higher average daily room and occupancy rates. Meanwhile, revenue and NPI in the property rental segment, consisting of the Malaysian and Japanese properties, approximated that of the previous quarter”.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 2.9128 sen per unit for the 6 months from 1 July 2024 to 31 December 2024, the book closure and payment dates for which are 6 March 2025 and 27 March 2025, respectively. The total income distribution amounts to RM49.6 million, representing approximately 95% of the total distributable income for the financial period ended 31 December
2024.
Comparison with Preceding Quarter
| 31.12.2024 RM million |
30.09.2024 RM million |
Variance % |
|
| Revenue | 147.5 | 132.7 | +11 |
| NPI | 79.5 | 68.9 | +15 |
| Distributable income | 25.8 | 26.5 | -3 |
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