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GAMUDA BERHAD (Company No. 197601003632 (29579-T))

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GAMUDA BERHAD (Company No. 197601003632 (29579-T)) GAMUDA BERHAD (Company No. 197601003632 (29579-T)) Condensed Consolidated Income Statement for the period ended 30 April 2021 INDIVIDUAL QUARTER CUMULATIVE PERIOD Preceding Year Current Year Comparative Current Year Corresponding Quarter Quarter To Date Period 30-Apr-21 30-Apr-20 30-Apr-21 30-Apr-20 RM'000 RM'000 RM'000 RM'000 Revenue (Note 1) 971,178 549,904 77% 2,630,545 2,736,447 -4% Operating expenses (852,428) (582,772) 46% (2,397,679) (2,538,698) -6% Other income 46,486 38,574 21% 122,465 132,811 -8% Profit from operations 165,236 5,706 >100% 355,331 330,560 7% Finance costs (24,714) (17,299) 43% (79,326) (76,252) 4% Share of profit of associated companies 32,290 15,281 >100% 101,448 91,425 11% Share of profit of joint ventures 28,184 61,401 -54% 119,813 157,026 -24% Profit before taxation 200,996 65,089 >100% 497,266 502,759 -1% Income tax expenses (54,223) (17,675) >100% (94,730) (83,859) 13% Profit for the period 146,773 47,414 >100% 402,536 418,900 -4% -152% 34% 33% Profit attributable to:- Owners of the Company 141,830 40,232 >100% 374,232 389,020 -4% Non-controlling interests 4,943 7,182 -31% 28,304 29,880 -5% 146,773 47,414 >100% 402,536 418,900 -4% -39% -34% Earnings per share attributable 39% to owners of the Company Basic earnings per share (sen) 5.64 1.60 >100% 14.89 15.64 -5% Fully diluted earnings per share (sen) 5.64 1.60 >100% 14.89 15.63 -5% Note 1: Group revenue (including share of joint venture companies' revenue) Individual Quarter Cumulative Period 30-Apr-21 30-Apr-20 30-Apr-21 30-Apr-20 RM'000 RM'000 RM'000 RM'000 Revenue as reported above 971,178 549,904 77% 2,630,545 2,736,447 -4% Share of joint venture companies' revenue * 103,486 439,933 -76% 1,337,279 2,278,897 -41% Total revenue 1,074,664 989,837 9% 3,967,824 5,015,344 -21% * Pursuant to the Malaysian Financial Reporting Standard (MFRS) 11, Joint Arrangements, the revenue of joint venture companies (eg. KVMRT- Elevated & Systems works and Horizon Hills) are excluded from Gamuda Group's Consolidated Income Statement. Instead Gamuda only recognises its share of profits of the joint venture companies. The Condensed Consolidated Income Statement should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2020 and the accompanying explanatory notes attached to the interim financial statements. 1 GAMUDA BERHAD (Company No. 197601003632 (29579-T)) Condensed Consolidated Statement of Comprehensive Income for the period ended 30 April 2021 INDIVIDUAL QUARTER CUMULATIVE PERIOD Preceding Year Current Year Comparative Current Year To Corresponding Quarter Quarter Date Period 30-Apr-21 30-Apr-20 30-Apr-21 30-Apr-20 RM'000 RM'000 RM'000 RM'000 Profit for the period 146,773 47,414 >100% 402,536 418,900 -4% Other comprehensive (loss)/income: Other comprehensive income/(loss) to be reclassified to profit or loss in subsequent periods: Foreign currency translation 17,568 140,923 -88% (71,271) 113,777 >-100% Share of associated companies' foreign currency translation (364) (619) -41% (2,407) (5,384) -55% Net asset accretion in an associated company arising from capital contribution 59 327 100% 1,204 2,610 -54% 17,263 140,631 -88% (72,474) 111,003 >100% Other comprehensive income not to be reclassified to profit or loss in subsequent periods: Remeasurement gain on defined benefit plan - - - 5 - 100% Total comprehensive income for the period 164,036 188,045 -13% 330,067 529,903 -38% 329,904 225,470 Total comprehensive income attributable to: 158 - Owners of the Company 159,032 180,922 -12% 302,042 500,830 -40% Non-controlling interests 5,004 7,123 -30% 28,025 29,073 -4% 164,036 188,045 -13% 330,067 529,903 -38% The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2020 and the accompanying explanatory notes attached to the interim financial statements. 2 GAMUDA BERHAD (Company No. 197601003632 (29579-T)) Condensed Consolidated Statement Of Financial Position As at 30 April 2021 As at As at 30-Apr-21 31-Jul-20 RM'000 RM'000 ASSETS Non-current assets Property, plant and equipment 1,022,114 1,063,066 Land held for property development 3,409,434 3,169,895 Investment properties 626,376 455,501 Right-of-use assets 13,810 15,138 Concession development expenditure 1,235,591 1,355,472 Interests in associated companies 788,087 952,787 Interests in joint arrangements 939,888 1,057,348 Other investments 812 812 Deferred tax assets 31,092 40,665 Receivables 428,887 890,835 8,496,091 9,001,519 Current assets Property development costs 1,630,886 1,847,214 Inventories 895,190 917,734 Receivables 1,975,366 2,223,689 Contract assets 2,088,910 1,701,664 Tax recoverable 47,722 44,056 Investment securities 988,724 644,467 Cash and bank balances 2,700,049 2,147,202 10,326,847 9,526,026 TOTAL ASSETS 18,822,938 18,527,545 EQUITY AND LIABILITIES Equity attributable to Owners of the Company Share capital (Note 2) 3,620,946 3,620,946 Reserves 5,222,188 4,920,146 Owners' equity 8,843,134 8,541,092 Non-controlling interests 335,060 426,502 TOTAL EQUITY 9,178,194 8,967,594 Non-current liabilities Payables 222,593 235,550 Contract liabilities 40,629 38,446 Provision for liabilities 92,191 111,309 Deferred tax liabilities 328,369 335,904 Long term borrowings 3,793,654 2,952,171 4,477,436 3,673,380 Current liabilities Short term borrowings 1,797,646 2,512,960 Payables 1,628,038 1,760,450 Contract liabilities 1,489,827 1,353,551 Provision for liabilities 183,996 171,660 Tax payable 67,801 87,950 5,167,308 5,886,571 TOTAL LIABILITIES 9,644,744 9,559,951 TOTAL EQUITY AND LIABILITIES 18,822,938 18,527,545 Net assets per share attributable to Owners of the Company (RM) 3.52 3.40 Note 2 : Share capital includes share premium pursuant to the new Companies Act 2016 - the number of ordinary shares issued as at 30 April 2021 is 2,513,527,654 (31 July 2020: 2,513,527,654). The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2020 and the accompanying explanatory notes attached to the interim financial statements. 3 GAMUDA BERHAD (Company No. 197601003632 (29579-T)) Condensed Consolidated Statement of Changes in Equity for the period ended 30 April 2021 ------------------------------------------- Attributable to owners of the Company ------------------------------------- --------------------------- Non-Distributable ---------------------------Distributable Non- Share Option Other Retained Controlling Total capital reserves reserves profits Total interests equity RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 FY2021 9 months ended 30 April 2021 At 1 August 2020 3,620,946 - 440,943 4,479,203 8,541,092 426,502 8,967,594 Total comprehensive income - - (72,195) 374,237 302,042 28,025 330,067 Transactions with owners: Issuance of shares by a subsidiary - - - - - 2,981 2,981 to non-controlling interest Transfer warrant reserves to retained profit - - (96,806) 96,806 - - - upon expiry of warrants Dividends paid by subsidiaries - - - - - (122,448) (122,448) to non-controlling interests At 30 April 2021 3,620,946 - 271,942 4,950,246 8,843,134 335,060 9,178,194 FY2020 9 months ended 30 April 2020 At 1 August 2019 3,469,729 72,584 341,874 4,187,120 8,071,307 399,317 8,470,624 Total comprehensive income - - 111,810 389,020 500,830 29,073 529,903 Transactions with owners: Exercise of Employees' Share Options ("ESOS") 70,950 - - - 70,950 - 70,950 Conversion of warrants 2,050 - (119) - 1,931 - 1,931 Share options granted under ESOS - 18,202 - - 18,202 - 18,202 Share options exercised under ESOS 6,830 (6,830) - - - - - Transfer share options reserves to retained - (83,956) - 83,956 - - - profit upon expiry of ESOS Acquisition of equity interest - - - - - (900) (900) from non-controlling interests Dividends paid by a subsidiary - - - - - (22,560) (22,560) to non-controlling interests Dividends paid to shareholders - Dividend reinvestment scheme 71,387 - - (71,387) - - - - Cash settlement - - - (77,503) (77,503) - (77,503) At 30 April 2020 3,620,946 - 453,565 4,511,206 8,585,717 404,930 8,990,647 The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2020 and the accompanying explanatory notes attached to the interim financial statements. 4 GAMUDA BERHAD (Company No. 197601003632 (29579-T)) Condensed Consolidated Statement Of Cash Flows for the period ended 30 April 2021 Preceding Current Year Year To Date Corresponding Period 30-Apr-21 30-Apr-20 RM'000 RM'000 Cash Flows From Operating Activities Profit before tax 497,266 502,759 Adjustments for non-cash items/non-operating items (55,174) (88,716) Operating profit before working capital changes 442,092 414,043 Changes in working capital Net changes in assets 1,033,670 151,711 Net changes in liabilities (334,407) (94,443) Net cash generated from operations 1,141,355 471,311 Income taxes paid (113,218) (111,816) Interest and other payments (189,486) (175,169) Net cash generated from operating activities 838,651 184,326 Cash Flows From Investing Activities Additions to property, plant and equipment (67,139) (130,336) Additions to land held for development expenditures (340,931) (139,160) Additions to investment properties expenditures (35,230) (98,519) Additions to concession development expenditures (26,368) (6,840) Proceeds on disposal of plant and equipment 1,018 688 Proceeds on disposal of investment property 3,023 5,001 Net purchase of
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