PETALING JAYA: DRB-Hicom Bhd
expects the introduction of new models across all marques within the group to boost the automotive sector and entice buying interest among consumers.
In a filing with Bursa Malaysia yesterday, the company said this will also provide a corresponding boost to the manufacturing and engineering companies within the group.
For its fourth quarter ended Dec 31, 2022, DRB-Hicom reported a net loss of RM100.06mil, compared with a net profit of RM117.47mil in the previous corresponding period.
Revenue in the fourth quarter rose to RM4.35bil compared with RM4.12bil in the previous corresponding period.
It reported a loss per share of 5.18 sen, versus an earnings per share of 6.08 sen a year earlier.
For the financial year ended Dec 31, 2022 (FY22), DRB-Hicom returned to the black with a net profit of RM187.71mil compared with a net loss of RM296.42mil a year earlier, while revenue rose to RM15.51bil from RM12.38bil previously.
In a statement, DRB-Hicom said three sectors led the sterling 25.3% revenue growth in FY2022, with the automotive sector leading the growth with an increase of RM2.89bil.
“The rise in automotive demand driven by the government’s sales tax holiday boosted revenue for Proton and other marques under the DRB-Hicom umbrella, sending revenue rising more than 35.2%.
“In addition to Proton and other automotive distribution companies, the increased demand also trickled down to manufacturing and engineering companies in the group, as the national total industry volume (TIV) set a new record of 720,658 units in FY2022.”
For FY2022, DRB-Hicom said national carmaker Proton sold its highest number of units since 2013 with a rise of 23.3% year-on-year.
“The aerospace and defence sector recorded an increase in revenue by RM254.46mil or 41%.
“The group’s defence unit recorded higher deliveries of their products, while the aerospace unit benefitted from the global resumption of commercial flights following the Covid-19-enforced travel bans.”
At the banking sector, DRB-Hicom said revenue growth for FY2022 was RM152.36mil or 13.7% better than the corresponding year, mainly contributed by higher financing income and volume from property and personal financing to customers.
“Other sectors in the group charted better year-on-year revenues except for the postal sector.”
Going forward, DRB-Hicom said its banking sector will continue to strengthen the business by intensifying its digitalisation efforts and technological capabilities.
“Meanwhile, the group’s postal sector remains focused on executing its transformation plan in an increasingly challenging business environment.
“The rest of the group’s sectors including defence and aerospace, services and properties will continue to explore growth opportunities and at the same time optimise operational excellence.”
