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YTL Power Records Full-Year Revenue of RM10.6 Billion (US$2.6 Billion) & Profit of RM717 Million (US$175 Million)

Kuala Lumpur, Wednesday 29 August 2018

YTL Power International Berhad registered revenue of RM10,589.7 million (US$2,582.8 mn) for the 12 months ended 30 June 2018 compared to RM9,777.9 million (US$2,384.9 mn) for preceding corresponding 12 months ended 30 June 2017.

Profit before tax increased by 5.7% to RM943.2 million (US$230.1 mn) from RM892.2 million (US$217.6 mn) last year, whilst profit for the period decreased to RM716.9 million (US$174.8 mn) this year, compared to RM787.8 million (US$192.1 mn) for the same period last year. Net profit attributable to shareholders stood at RM620.7 million (US$151.4 mn) this year, compared to RM693.8 million (US$169.2 mn) last year.

The Board of Directors of YTL Power declared an interim cash dividend of 5.0 sen per ordinary share for the financial year ended 30 June 2018, the book closure and payment dates for which are 29 October 2018 and 13 November 2018, respectively. The interim dividend represents a yield of approximately 4.2% based on the 5-day weighted average share price of RM1.18 per share.

Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Power, said, "YTL Power's operating performance remained relatively sound for the financial year ended 30 June 2018. The contracted power generation segment registered higher revenue and profit before taxation arising from the commencement of supply from our Paka power station in September 2017 under the new short-term power purchase agreement.

"In our international operations, the merchant multi-utilities business in Singapore recorded lower revenue due to the strengthening of the Ringgit against the Singapore Dollar, while lower profit before tax resulted from lower margins recorded for electricity sales and oil tank leasing, in addition to higher finance costs. Meanwhile, lower revenue in the water and sewerage segment was the result of the strengthening of the Ringgit against the Sterling but the segment registered higher profit before tax, with a reduction in operating costs partially offsetting higher finance costs.

"In the Group's other operating segments, the mobile broadband network segment was adversely impacted by intense ongoing price competition in the telecommunications industry coupled with higher operating costs, whilst the investment holding activities segment recorded higher revenue as a result of higher interest income but this was offset by a significant increase in financing costs, fair value changes in investments and derivatives and the absence of a fair value gain arising from additional purchase of shares in an associate recorded last year."

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