Bermaz Auto saw its quarter reporting higher revenue and higher pre-tax profit of RM716.9 million and RM74.6 million as compared to the preceding year’s corresponding quarter which reported a group revenue and pre-tax profit of RM320.8 million and RM14.5 million respectively.
The higher group revenue of RM396.1 million or an increase of 123.5% was achieved mainly due to the increase in overall sales volume from the Group’s Mazda, PEUGEOT, and Kia operations in Malaysia as consumers rushed to register their vehicles before the expiry of the sales tax exemption incentive period on 30 June 2022. The exceptional lower revenue recorded in the preceding year’s corresponding quarter was mainly due to the total lockdown under Phase 1 of the National Recovery Plan (“NRP”) in June and July 2021.
In line with the increase in revenue, the Group’s pre-tax profit had also improved by RM60.1 million or an increase of 415.1% compared to the preceding year’s corresponding quarter largely due to similar reasons for the higher Group revenue as explained above. In addition, positive contributions from its associated company, Mazda Malaysia Sdn Bhd, in the current quarter and the strengthening of the MYR against JPY had also contributed to the improved results.
For the quarter ended 31 July 2022, the Group reported lower revenue and pre-tax of RM716.9 million and RM74.6 million respectively compared to Group revenue and pre-tax profit of RM897.4 million and RM115.4 million respectively for the preceding quarter. Despite strong vehicle bookings received prior to the expiration of the sales tax exemption incentive period, the Group’s current quarter revenue fell by RM180.5 million or 20.1%. This is mainly due to the ongoing shortages in semiconductor chips and components, continued lockdowns in China, and disruption in the global supply chain, which had impacted the Group’s Mazda sales volume but was partly offset by higher sales volume from its Kia vehicles.
Likewise, the Group pre-tax profit for the current quarter under review had also reduced by RM40.9 million or 35.4% for similar reasons as explained above for the reduction in Group revenue, which had also impacted the contribution from MMSB.
The Group has also accounted for the expense relating to the Group’s Employees’ Share Scheme of about RM0.4 million in this quarter under review, similar to the RM0.4 million recorded in the preceding quarter
