On the back of a 25% revenue growth, DRB-HICOM Berhad recorded an RM409.99 million profit before tax for the financial year ended 31 December 2022, this reverses the pre-tax loss of RM291.27 million the Group recorded in the corresponding year ended 31 December 2021.
For the three-month period to 31 December 2022, the group registered a pre-tax loss of RM73.13 million, mainly due to the year-end assessment of impairment loss of assets.
Three sectors led the sterling 25.3% revenue growth in FY2022 at DRB-HICOM, with the Automotive sector leading the revenue growth with an increase of RM2.89 billion (FY2022: RM11.09 billion, FY2021: FY8.20 billion). The rise in automotive demand driven by the Government’s sales tax holiday boosted revenue for PROTON and other marques under the DRB-HICOM umbrella, sending revenue rising more than 35.2%. In addition to PROTON and other automotive distribution companies, the increased demand also trickled down to manufacturing and engineering companies in the Group, as the national total industry volume (“TIV”) set a new record of 720,658 units in FY2022 (FY2021:508,883 units, ↑41.6%).
For FY2022, the national carmaker PROTON sold its highest number of units since 2013 with a rise of 23.3% year-on-year.
Aerospace & Defence sector recorded increase in revenue by RM254.46 million or 41% (FY2022: 874.91 million, FY2021: RM620.44 million). The Group’s defence unit recorded higher deliveries of their products, while the aerospace unit benefitted from the global resumption of commercial flights following the COVID-19-enforced travel bans.
At the Banking sector, revenue growth for FY2022 was RM152.36 million or 13.7% better than the corresponding year (FY2021:RM1.12 billion), mainly contributed by higher financing income and volume from property and personal
financing to customers. Other sectors in the Group charted better year-on-year revenues except for the Postal sector
