For FY2024 Q4, Betamek achieved revenue of RM56 million and a PBT of RM5.6 million. This performance was primarily driven by the vehicle audio and visual products segment, which contributed RM43.5 million or 77.61% of the total revenue, while the balance was contributed by vehicle accessories segment.
On a year-on-year basis, Betamek’s revenue for FY2024 totalled RM222 million, compared to RM205.7 million in the corresponding financial year (“FY2023”), reflecting an increase of 7.93%. The group said the vehicle audio and visual products segment was the primary driver, contributing RM173.7 million or 78.22% of total revenue, where the Company’s revenue was entirely derived from Malaysian customers. FY2024’s PBT rose to RM26.4 million from RM22.4 million in the previous year, an increase of 17.72%, showcasing strong demand for Betamek’s automotive electronics products and components.
For Q4 FY2024, the Group’s revenue slightly decreased by RM3.2 million or 5.42% compared to the preceding quarter (“Q3 FY2024”), primarily due to the long festive holidays that reduced productive days for vehicle production.
The Gross Profit margin for Q4 was 14.89%, a slight decrease from 15.51% in the preceding quarter, mainly due to the continued weakness of the Malaysian Ringgit against the US Dollar. The PBT margin correspondingly decreased to 9.98% from 11.72% in Q3, influenced by the reduced GP margin and increased operational expenses.
Looking ahead, Betamek anticipates a dynamic FY2025, bolstered by the recent joint venture with Shenzen Zhonghong Technology Co., Ltd.,aimed at penetrating new ASEAN markets with advanced driver assistance systems and smart cockpit solutions. The strategic acquisition of Sanshin (Malaysia) Sdn. Bhd. it said will diversify the group’s customer base and expand its international footprint, enhancing product offerings and market reach.
