Shah Alam, 23 May 2014 – UMW Holdings Berhad announced today that the Group revenue of RM3,583.4 million for the first quarter ended 31st March 2014 was RM224.1 million or 6.7% higher than the RM3,359.3 million recorded in the same period of 2013. The improved revenue was mainly contributed by higher sales of motor vehicles and oil and gas drilling services.Consequently, a higher profit before taxation of RM479.4 million was recorded for the first quarter ended 31st March 2014 compared to RM432.7 million recorded in the same period of 2013. The Automotive and Oil & Gas segments contributed to the better profit performance.
Dr. Wafi Nazrin Abdul Hamid, Executive Director, UMW Corporation Sdn. Bhd. presented a mock cheque for the sponsorship to Sr. Dato’ Zaharin Md. Arif, President, Malaysian Zoological Society during a presentation ceremony at Zoo Negara Malaysia on 28 April 2014.
The net profit attributable to equity holders of the Company for the first quarter ended 31st March 2014 has increased by RM15.8 million or 7.2%, to RM235.5 million from RM219.7 million registered in the previous year’s corresponding quarter.
Revenue for the Automotive Segment for the first quarter of 2014 of RM2,656.4 million increased by RM264.3 million or 11.1% from the RM2,392.1 million registered in the first quarter of 2013. Overall Toyota vehicles sales improved by 16.7% compared to the previous corresponding quarter. The increase was mainly driven by Vios and Altis full model change.
In line with the higher revenue, profit before taxation in the first quarter of 2014 of RM406.6 million recorded an increase of RM38.5 million or 10.5% from RM368.1 million registered in the previous corresponding quarter. Higher sales of 6% from Alza and new MyVi also contributed to a better profit before taxation.
Equipment Segment recorded a revenue of RM434.9 million compared to RM479.4 million recorded in the same period of 2013.
Our overseas subsidiaries have recorded lower revenue due to the continued drop in commodity prices in Papua New Guinea and the continued suspension of mining activities in Myanmar.
In line with the reduction in revenue, profit before taxation for the Equipment Segment reduced to RM39.1 million from RM59.1 million recorded in the previous corresponding quarter.
Oil & Gas Segment
Revenue for the Oil & Gas Segment of RM195.6 million for the current quarter was higher than the same quarter of 2013 of RM157.5 million.
The improved revenue in Q1 2014 was contributed by –
Full contribution from NAGA 4 which commenced operations on 5th April 2013;
Higher Daily Operating Rates for NAGA 2; and
Higher operating days for NAGA 1.
In tandem with the increase in revenue, profit before taxation increased to RM58.3 million in the current quarter of 2014 from RM20.6 million registered in the preceding year’s corresponding quarter. In addition, the profit before taxation improved further from the higher investment income from placement of the IPO proceeds.
Manufacturing & Engineering Segment
Manufacturing & Engineering Segment’s revenue for the current quarter of RM181.9 million was marginally higher than that of the same quarter in 2013. Higher revenue was due to better sales from its subsidiaries in India. Profit before taxation increased marginally in line with the increase in revenue.
The UMW Group is an international conglomerate that develops industries, manages partnerships and facilitates growth. It is involved in four core businesses – Automotive, Equipment, Manufacturing & Engineering, and Oil & Gas.
Adopting its rallying call – Beyond Boundaries®, UMW is set to play a leading role in shaping the future of its industries globally. The Company will do this by inspiring vibrant ideas, nurturing potential, pioneering partnerships and delivering excellence in everything it does; the rewards of which will contribute to the progress and well-being of all its stakeholders.