EITA 5208 Share Price

The Group’s Profit Before Tax for FY2022 decreased by RM2.0 million or 7.4% to RM24.9 million as compared to RM26.9 million for FY2021. During the financial year, the Group experienced some margin compressions for projects in addition to the fair value loss on derivatives and higher write-down of inventories resulting in lower Profit Before Tax. Going Forward, EITA will continue to tender for major transportation projects, such as MRT 3, Johor-Singapore Rapid Transit System, and Bayan Lepas LRT. Now, having installed elevators running at 6 meter per second in buildings over 60 floors, EITA will be able to tender for high value, highend residential and commercial complexes.

The Group’s revenue for the current quarter decreased by RM0.8 million or 1.0% against the preceding quarter mainly due to lower revenues from the Marketing and Distribution, and Manufacturing segments. The Group’s PBT for the current quarter decreased by RM3.1 million or 54.7% against the preceding quarter mainly due to lower PBT from the Marketing and Distribution segment and the LBT in the High Voltage System segment.

The Group’s PBT for the current quarter decreased by RM6.0 million or 53.0% against the preceding quarter mainly due to lower PBT from all four of our Group’s business segments

The Group’s PBT for the current quarter increased by RM2.6 million or 75.1% mainly due to the higher PBT recorded for the Marketing and Distribution, Manufacturing and Services segments. Cumulatively, the Group’s PBT increased by RM0.6 million or 3.0% in tandem with the higher revenue.

EITA Resources Bhd’s internal target to achieve a revenue of RM1bil per year in the next five years will hinge on potential mergers and acquisitions (M&As), exploring new markets in South-East Asia and the Middle East as well as strengthening its presence in existing markets. To achieve this, the elevator and escalator maker would have to a generate a compounded annual growth rate (CAGR) revenue of 28.6% between financial year (FY) 2020 and FY25, said CGS-CIMB Research in its report.

The total revenue of the Group for the current quarter increased by RM18.5 million or 30.8% against preceding quarter mainly contributed by higher revenue from all segments. The total PBT of the Group for the current quarter increased by RM2.9 million or 84.8% against preceding quarter in tandem with higher revenue, reversal of provision for allowance for doubtful debts and reversal of foreseeable loss.

The total revenue of the Group was RM75.6 million for the current quarter increased by RM5.6 million or 7.9% against preceding quarter of RM70.0 million mainly due to higher revenue from Services and High Voltage System segments. The total PBT of the Group for the current quarter was RM7.2 million decreased by RM0.9 million or 11.1% against preceding quarter’s PBT of RM8.1 million mainly due to higher inventories written down to net realisable value.