19 INTEGRATED ANNUAL REPORT 2024 Overview of Wasco Berhad Key Messages Value Creation Commitment to Governance Sustainability Journey Financial Statements Other Information CHIEF FINANCIAL OFFICER’S REVIEW Our core profits stood at RM182.1 million, markedly exceeding the full-year consensus of RM144.0 million, and we improved both our Return on Equity and Return on Capital Employed, reinforcing our dedication to sustainable growth and shareholder value creation. In light of the achievements above, for the fiscal year 2024, the Group announced and distributed dividends of 2 sen per share, amounting to a total of approximately RM15.5 million. It is noteworthy that the previous dividend payment occurred in fiscal year 2020, subsequently, we concentrated on strengthening our financial foundations. Strategic Revenue Growth & Business Restructuring In FY2024, our revenue recorded a high of RM3.2 billion, including approximately RM269.9 million from our trading business (previously categorised as “Asset Held for Sale”). After eliminating the contribution from our trading business, our adjusted revenue of RM2.9 billion was a respectable 11.9% higher compared to FY2023. This increase was primarily driven by a surge in project execution activities during the year, despite both domestic and global economic uncertainties and industry challenges. RAMANATHAN SINGARAM Chief Financial Officer 2024 2023 2022 2021 2020 Gross Profit (“GP”) maintained upward momentum, rising to RM552.2 million in FY2024—a robust 23.9% increase from RM445.8 million in FY2023. Excluding the revenue contribution from our trading business, our GP margin of 18.9% is slightly higher than in FY2023. 3,500 3,000 2,500 2,000 1,500 1,000 500 0 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 2,915* 2,606 2,366 1,429 1,409 Note: * excluding contribution from trading business Revenue (RM million) GP Margins 18% 17% 15% 5 Year CAGR = 20% 12% 13%
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