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2009 1ST QUARTER REPORT 
Group revenue of RM2,349.8 million for the first quarter ended 31st March 2009 was RM635.3 million or 21.3% lower than the RM2,985.1 million achieved in the preceding year’s corresponding quarter. Lower sales of Toyota vehicles and heavy equipment resulted in the decline in revenue.
In line with the lower turnover, the Group’s profit before taxation for the first quarter ended 31st March 2009 of RM123.7 million was RM169.2 million or 57.8% lower than the RM292.9 million registered in the same quarter of 2008. Higher cost of sales resulting from the strengthening of the Japanese Yen and the US Dollar, coupled with lower profit contributions from our associated companies, also contributed to the lower profit before taxation for the current quarter.
As a result of the above, net profit attributable to the equity holders of the Company for the first quarter of 2009 was RM66.0 million compared to the RM141.8 million achieved in the same quarter of 2008, a decrease of RM75.8 million or 53.5%.
UMW QUARTERLY IR UPDATES 1Q09
2009 is turning out to be a challenging year as expected. The Automotive Division is feeling some of the impact of the slowdown. We expect lower sales volume and profit levels in the Division. Our aim for the year is to maintain our market share, reduce cost and maximise profitability. We are however confident that the increased contribution from our Oil & Gas Division can partially offset the lower numbers from our Automotive Division, as we see some of the Oil & Gas investments commencing operations in 2009. UMW will maintain dividend payout policy of 50% of our net profit despite challenging year. Please refer to UMW's quarterly IR report for more details of our performance and prospects.
2008 4TH QUARTER REPORT
Group revenue of RM2,918.3 million for the fourth quarter ended 31st December 2008 was RM228.5 million or 8.5% higher than the RM2,689.8 million registered in the preceding year’s corresponding quarter. The improved sales registered by core business segments of the Group resulted in the revenue growth.
However, Group profit before taxation for the fourth quarter ended 31st December 2008 of RM269.9 million was lower than the RM315.6 million achieved in the same quarter of 2007 by RM45.7 million or 14.5%. Lower margins recorded by all segments of the Group resulted in the lower profit before taxation for the current quarter ended 31st December 2008.
As a result of the above, net profit attributable to the equity holders of the Company for the fourth quarter ended 31st December 2008 of RM116.1 million was less than the RM143.0 million recorded in the preceding year’s corresponding quarter by RM26.9 million or 18.8%.
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2009 Headline KPIs - a) minimum annual return on shareholders’ funds of 10%; and b) annual dividend payout ratio of at least 50% of net profit attributable to shareholders. |
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UMW's associated company, WSP Holdings Limited, listed on the New York Stock Exchange, is a leading manufacturer of API (American Petroleum Institute) and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction ("Oil Country Tubular Goods" or "OCTG"), and other pipes and connectors, It announced a net revenue of $195.5 million for the first quarter ended March 31, 2009. Net income increased 35% from the first quarter of 2008 to $21.4 million. |
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