ENRA Group Berhad Annual Report 2021

LEADERSHIP Annual Report 2021 | ENRA Group Berhad 17 KEY HIGHLIGHTS FOR THE YEAR i. Q Homes successfully launched its maiden affordable homes project in March 2021. The project was fully sold and has an expected GDV of RM7.86 mil; ii. ENRA Land’s maiden retirement living project in Rugby, UK, received development approval after a delayed application process due to lockdowns which resulted in council office closures; iii. EEFAB received a settlement of RM3.84 mil from its litigation with the Government of Malaysia; and iv. ENRA SPM overcame various operational hurdles to successfully complete the acquisition, modification and commissioning of Ratu ENRA in the first quarter of FYE 2021, despite the strict lockdowns imposed in Malaysia, Singapore, and Myanmar. FINANCIAL PERFORMANCE MANAGEMENT DISCUSSION AND ANALYSIS REVENUE PBT FYE 2019 (RM23.3 mil) RM4.3 mil RM8.4 mil RM6.3 mil FYE 2019 (excl.El) FYE 2020 FYE 2021 FYE 2021 (excl.El) (RM3.4 mil) RM164.7 mil FYE 2019 RM226.6 mil FYE 2020 RM112.8 mil FYE 2021 ENRA Group’s FYE 2021 total revenue decreased by 50.2% to RM112.80 mil from RM226.65 mil in FYE 2020 as a result of decreases from both key divisions of the Group. This in turn resulted in a reduction in gross profit and a reduction in PBT before EI, though profit margins before EI have generally improved in FYE 2021 (explained in further detail below).