KPower Berhad posted a massive 300% jump in revenue for the cumulative 12 months ended 30 June 2021, the consolidated revenue of RM386.09 million represents a growth of RM290.25 million or 303%, from RM95.84 million as compared to the corresponding period of 2020.
The group posted an increase in its PAT amounting to RM38.23 million as compared to RM12.78 million from the same reporting period representing an increase of RM25.46 million or 199%. Concurrently, the Group also generated a PBT of RM51.40 million, recording an increase of approximately RM33.50 million or 187% for the same period.
For Q4, the Group posted a significant growth of 157% or RM61.94 million in its revenue to RM101.31 million. KPower also registered RM6.61 million in Profit After Tax (“PAT”), a slight decrease of approximately RM0.70 million or 10% as compared to the corresponding period of FPE 30 June 2020. Correspondingly, the Group also recorded a slight decline in its Profit Before Tax (“PBT”) of approximately RM1.71 million or 17% for the same reporting period.
The Group’s largest business segment, the Construction Related Activities segment, driven mainly by its Renewable Energy business, remains its largest revenue contributor generating RM95.49 million or approximately 94% of its total revenue for Q4. Representing an increase of RM57.57 million or 152% from the corresponding period of the previous year, contributed by the progress of existing projects and order-based projects in Malaysia and Indonesia.
Meanwhile, its Logistics segment contributed RM5.12 million whereas the Group’s Healthcare segment contributed RM0.49 million to the Group’s topline in Q4 FPE 30 June 2021.
Group Managing Director, Mustakim Mat Nun commented, “While hydro remains our strong point, we also intend to build our capabilities in other renewable energy spectrum. KPower’s diversification of RE sector into solar energy was massively enhanced by the recent signing of the 21-year large-scale solar photovoltaic power purchase agreement with Tenaga Nasional Berhad in respect to our successful bid for the fourth round of large-scale solar programme (“LSS4”) initiated by the Energy Commission.
He added, that the future of the RE sector in Malaysia continues to look promising especially with the revised energy transition plans which saw an upward revision of the projected RE installed capacity from 20% by 2025 to 31% by 2025 and 40% in 2035. To date, the installed capacity for RE in Malaysia is 7,995MW. The RE installed capacity is projected to increase more than double to 18,000MW by 2035, presenting us with boundless opportunities to be captured. Being only one of the few players with capabilities in the hydro and solar segments, KPower has stong interest to capitalise on these opportunities through its asset ownership business initiatives for the Group’s long-term benefits.
As for its Logistics segment’s its optimistic on the future performance due increased demand from the reopening of all economic activities. Currently, Chemtrax Sdn. Bhd., which is 51% owned by KPower is on a growth trend from its existing customers under the rubber glove manufacturing sector.
Besides focusing on its core competencies in activities relating to sustainable energy and utilities, KPower also intends to grow its Healthcare and Technologies segment.
