7 GROUP FINANCIAL HIGHLIGHTS FYE 2023 AT A GLANCE Financial year ended 31 January 2019 RM million 2020 RM million 2021 RM million 2022 RM million 2023 RM million Revenue 1,035 2,519 4,849 3,607 6,324 Profit before tax 344 331 580 716 855 Profit after Tax and Minority Interests (“PATAMI”) 235 210 315 401 589 Share capital 1,101 1,107 1,126 1,134 2,220 Total equity 3,624 3,774 4,026 4,740 6,458 Number of ordinary shares issued 1,093 1,095 1,100 1,101 3,054 Weighted average number of ordinary shares in issue(c)(d) 1,096 1,079 2,411(g) 2,409(g) 2,707 Total assets 8,083 9,515 11,886 15,205 19,259 Total liabilities 4,459 5,741 7,860 10,465 12,801 Total borrowings 3,150 3,830 6,106 8,758 9,584 Non-recourse borrowings(h) 2,563 2,339 2,985 4,020 3,731 Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) 801 770 1,236 1,402 1,782 Basic earnings per share (sen)(b)(c)(d) 21.4 19.5 7.3(g) 10.9(g) 16.7 Dividends rate (sen)(c)(d) 6.0 6.0 3.0(g) 3.0(g) 1.0 Net Assets Per Share (RM)(a)(c)(d) 3.31 3.45 1.62(g) 1.91(g) 2.11 Gearing (times): - Total borrowings 0.87 1.01 1.52 1.85 1.48 - Excluding non-recourse borrowings(f)(h) 0.16 0.40 0.78 1.00 0.91 Net Gearing (times) - Total borrowings 0.51 0.63 1.01 1.24 1.23 - Excluding non-recourse borrowings(f)(h) (0.19)(i) 0.01 0.27 0.39 0.65 Adjusted Revenue(e) 1,194 2,672 5,007 3,775 6,381 Adjusted Core EBITDA(e) 897 865 1,533 1,476 1,972 Adjusted Core EBITDA Margin (%)(e) 75.2 32.4 30.6 39.1 30.9 Adjusted Net Debt(e) 1,854 2,475 4,102 5,683 7,778 Adjusted Net Debt/Adjusted Core EBITDA (times)(e) 2.07 2.86 2.68 3.85 3.94 Notes: (a) Computed based on number of ordinary shares issued as at financial year end. (b) Computed based on weighted average number of ordinary shares in issue as at financial year end (excluding treasury shares). (c) Amount restated for FYE 2021. (d) Amount restated for FYE 2022. (e) Adjusted amount/ratio is defined as the Group's relevant financials plus the Group's share of relevant financials of its joint ventures and associates. (f) Computed based on total loans and borrowings of the Group less non-recourse borrowings. (g) Amount adjusted for FYE 2022 and FYE 2021 to reflect the bonus issue of 1 bonus share for 1 existing ordinary share which was completed on 14 April 2022, the bonus element of the rights issue of 2 rights shares for every 5 existing ordinary shares which was completed on 28 June 2022 and distributions declared to holders of perpetual securities in determining the profits attributable to ordinary equity shareholders. Refer to Note 14 to the Financial Statements for further details on the restatement of prior years’ basic earnings per share. (h) Non-recourse borrowings refers to project financing loans where the Group’s guarantee has been released and the lenders are only entitled to loan repayments from cash flows of the projects the loan is financing, and not from any other assets of the Group. (i) Excluding non-recourse borrowings, the Group was in a net cash position of RM703 million as at 31 January 2019.
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