MIKROMB 0112 Share Price

The Group’s Profit before taxation (PBT) for the financial year ended 30 June 2024 soared to RM37.7 million, an impressive 583.7% increase compared to RM5.5 million in the preceding financial year. This significant rise was driven by the deemed disposal of Mikro MSC shares related to the acquisition of Bio Eneco Sdn. Bhd. and RM8.4 million in profits from an associate. The Group has diversified into the business of the manufacturing and trading of biomass fuel products. Going forward, the Group is optimistic that its existing business operations will continue profitable and viable in the coming financial year.

The Group’s revenue for the CFQ of RM13.6 million saw a marginal decline of 4.1% compared with that of RM14.2 million achieved in the immediate preceding financial quarter. This decline was due to lower level of local sales in CFQ as compared with that in the immediate preceding financial quarter. However, the PBT has increased by 23.0% to RM3.0 million for the CFQ from that of RM2.5 million achieved in the immediate preceding financial quarter. This increase in PBT is partly due to the disposal of shop lots in the CFQ

As for the PBT, it increased by 49.3% to RM2.5 million for the CFQ from that of RM1.7 million achieved in the immediate preceding financial quarter. This increase in PBT was attained as a result of the higher gross margin of 36.3%. This higher margin quarter-on-quarter (“QoQ”) was achieved on the back of the appreciation of 4.6% in USD against RM during the CFQ and the increase in overseas sales of almost 38.4% QoQ.

FY2021’s PBT of RM6.5 million increased by 36.1% YoY (RM1.7 million) from that of RM4.8 million attained in the preceding financial year. This increase was contributed by both domestic and overseas sales which increased by 18.4% and 11.6% respectively YoY. The Group still expect to face challenging operating and market conditions as well as a global shortage
of electronic components especially IC in the coming financial year and as such, it shall continue to enhance its productivity and cost savings in order to ensure the Group’s sustainability and profitability going forward.

The Group’s revenue for the CFQ of RM11.5 million was 12.5% lower than that of RM13.1 million achieved in the immediate preceding financial quarter. This decline was mainly due to the disruptions in the Group’s production and marketing activities during the CFQ due to the various Movement Control Orders (MCO) and the Full MCO imposed on 1 June 2021. As a consequence of the decline in revenue, the PBT for the CFQ dropped by 38.2% to RM491,000 from that of RM795,000 achieved in the immediate preceding quarter.

The Group’s revenue for the CFQ of RM17.8 million was 12.5% higher than that of RM15.8 million achieved in the immediate preceding financial quarter. This increase in revenue was mainly due to the increase in overseas sales and local sales in CFQ. The higher PBT for the CFQ is contributed mainly by the increase in revenue and cost saving initiatives introduced.

The Group’s revenue for the current financial quarter (CFQ) of RM9.1 million was 46.4% lower than that of RM16.9 million achieved in the immediate preceding financial quarter. The decline in revenue was due to effect of COVID-19 pandemic outbreak. The imposing of Movement Control Order by the Malaysian Government has significantly affected our delivery of products locally and to our export markets. However the gross margin has decreased from 36.9% in the immediate preceding financial quarter to 29,7% for the CFQ, due to the new product mix.