Shah Alam, 25 Apr 2013 – The UMW Group announced today that its Group revenue of RM15,863.6 million for the financial year ended 31 December 2012 exceeded the RM13,535.8 million registered in the same period of 2011, an increase of RM2,327.8 million or 17.2 percent (14.67). All four core business segments of the Group reported higher revenue during the period under review.
In tandem with the rise in revenue, the Group profit before taxation increased substantially to RM2,009.7 million, a growth of 47.2% or RM644.4 million from the RM1,365.3 million registered in the same period of 2011. This achievement represents a new record for the Group. All four core business segments of the Group registered better profit for the financial year of 2012.
Consequently, net profit attributable to equity holders of the Company for the financial year ended 31 December 2012 improved significantly to RM994.3 million from the RM485.8 million registered during the year 2011, a surge of RM508.5 million or 104.7%. “2012 was another record-year for the UMW Group. In tandem with the rise in revenue, our profit before taxation increased substantially to RM2 billion, from the RM1.4 billion registered in 2011. We look forward to challenging ourselves for a better 2013.”, said Datuk Syed Hisham Syed Wazir, UMW President and Group CEO.
Prospects for 2013
The Malaysian Automotive Association (MAA) forecasts the total industry volume (TIV) for the year 2013 to improve by about 2% to 640,000 units from the 627,753 units achieved in 2012.
Collectively, UMW Toyota Motor and Perodua target to sell more units than the 295,759 units sold in 2012. The UMW Group had a market share of 47.1% in 2012.
2013 will remain challenging due to intense competition in the market with aggressive promotions on new model launches in the automotive industry.
Revenue for the Equipment segment is expected to be slightly lower than 2012. Uncertain external factors may affect the demand for equipment.
However, the profitability of this segment is expected to sustain resulting from better cost management and increased parts sales.
Oil & Gas Segment
The performance of the Oil & Gas segment is expected to improve in 2013 contributed by:-
Full-year contribution from NAGA 1
Contribution from NAGA 4. NAGA 4 received a contract from Petronas Carigali Sdn. Bhd. for a 3-year period worth USD157.68 million in April 2013.
Commissioning of the new Electric Resistance Welded (ERW) and coating plant in China.
Manufacturing & Engineering Segment
The performance of this segment is expected to improve considering the following major activities planned for 2013:-
Higher capacity utilisation of our automotive component plants in India and lubricant plant in China, and
Increased sales of Repsol and Pennzoil lubricants.