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YTL Power Registers Half-Year Revenue of RM5.8 Billion (US$1.4 Billion) & Profit Before Tax of RM210 Million (US$51 Million)

Kuala Lumpur, Thursday, 20 February 2020 

YTL Power International Berhad registered revenue of RM5,755.1 million (US$1,390.1 mn) for the 6 months ended 31 December 2019, compared to RM5,730.8 million (US$1,384.2 mn) for the preceding corresponding period ended 31 December 2018. Meanwhile, profit before tax stood at RM210.1 million (US$50.8 mn) for the period under review compared to RM319.8 million (US$77.2 mn) for the same period last year.

Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, KBE, CBE, FICE, Executive Chairman of YTL Power, said, “The merchant multi-utilities business recorded an increase in revenue due to higher sales of fuel oil, whilst the segment’s loss before tax was pared back due to the absence of a one-off charge for impairment of receivables recognised last year and lower depreciation charges in the current period, partially offset by lower vesting contract levels and losses on fuel oil sales. Nevertheless, EBITDA for the segment remained positive.

“Our contracted power generation segment also continued to perform well, with higher generation volume driving increases in revenue and profit before taxation, whilst the water and sewerage segment achieved higher revenue resulting from the price increase allowed by the industry regulator, although profit before tax was impacted by higher operating costs.

“The investment holding segment performed well during this period, registering higher revenue from an increase in accrued technical service income, partially offset by lower interest income. Higher profit before tax was contributed by higher accrued technical service income, lower operating costs and a fair value gain on investments, partially offset by a lower share of profits of investments.

Meanwhile, the lack of project revenue in the current quarter resulted in the lower revenue and higher loss before tax in the telecommunications business, although the segment remains EBITDA positive for the period to date.

“The Group has also received the business viability guarantee letter from Indonesia’s Ministry of Finance for Tanjung Jati A, our 1,320 megawatt power generation project in Indonesia, and is continuing to work towards financial close on the project.”

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