Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 8 CHAIRMAN’S MESSAGE MANAGEMENT DISCUSSION AND ANALYSIS ANOTHER RECORD-BREAKING YEAR Financial performance Once again, Frontken achieved a record-breaking year with growth across our top and bottom lines and also cash balances. The revenue for 2022 was RM517.2 million, a double-digit growth of 15% compared to the same period a year ago due to improved contributions and strong demand from the Group’s global customers in both the semiconductor and oil and gas (“O&G“) industries. The Group’s profit before tax for the year was at RM174.8 million, a 17% increase from the preceding financial year. At the same time, our earnings before interest tax, depreciation and amortisation (“EBITDA”) also grown by 15% compared to last year. Our profit after tax (“PAT”) of RM135.2 million was also at its highest, with an increase of 18% compared to RM114.2 million recorded a year ago. The improved bottom line was attributable to the Group’s higher revenue, strict cost management and continual enhancement of processes leading to better production efficiency. Dear Shareholders, Welcome to our Annual Report 2022. On behalf of the Board of Directors, I’m pleased to present to you the Annual Report and Audited Financial Statements of the Frontken’s group (the “Group”) for the financial year 2022 (“FY2022”). As part of this Annual Report, we have also included the Management Discussion and Analysis to provide our shareholders with a more insightful and informative details of the Group’s operation and performance. Over the past few years, our business has shown remarkable resilience despite numerous challenges. We were able to face and overcome these challenges placed before us as a result of the dedication, capability and resilience of our excellent team of people. REVENUE (RM’000) 600,000 500,000 400,000 300,000 200,000 100,000 - Revenue and Revenue CAGR chart from FY2012 to FY2022 CAGR +11% 181,035 190,611 261,844 339,911 222,717* 296,580 368,319 250,543* 327,218 450,222 517,183 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 *Note: Excluded the one-off ATB project for a like-for-like comparison.
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