Genting Berhad for 4Q22, revenue was RM6,361.8 million, an increase of 32% compared with the previous year’s corresponding quarter’s (“4Q21”) revenue of RM4,837.6 million. The increase in revenue came mainly from the Leisure & Hospitality Division of the Group. The Group’s adjusted earnings before interest, tax, depreciation and amortisation (“EBITDA”) for 4Q22 of RM1,904.9 million improved by 18% compared with RM1,610.3 million in 4Q21.
A profit before taxation of RM119.8 million was recorded in 4Q22 compared with RM301.5 million in 4Q21. The lower profit in 4Q22 was mainly due to higher depreciation charges, net unrealised foreign exchange losses, and net impairment losses, partly mitigated by the Group’s higher EBITDA and a lower share of loss in joint ventures and associates was recorded in 4Q22 compared with 4Q21. The lower share of loss in joint ventures and associates was mainly attributable to the lower share of loss from the Meizhou Wan power plant in China due to higher tariff rates in 4Q22.
In FY2022, Group revenue of RM22,383.7 million and EBITDA of RM7,296.5 million registered an increase of 65% and 82% respectively over the full year of 2021 (“FY2021”). The improved results are attributed mainly to the better performance of the Leisure & Hospitality division. Revenue and EBITDA from RWS rebounded strongly with the recovery of Singapore’s international visitors, resulting in a significant improvement over FY2021. However, the EBITDA had been partially
impacted by higher utility tariffs and increased casino taxes.
A profit before taxation of RM1,265.1 million was recorded in FY2022 compared with a loss before taxation of RM970.8 million in FY2021.
The Board of Directors has declared a final single-tier dividend of 9.0 sen per ordinary share for FY2022. Total dividend for FY2022 will amount to 16.0 sen per ordinary share. In comparison, the total dividend amounted to 11.0 sen per ordinary share for FY2021.
