PETALING JAYA: Bermaz Auto Bhd (BAuto) reported lower group revenue and profit before tax (PBT) of RM602.1 million and RM34.8 million respectively in the third quarter ended Jan 31, 2025 compared to the preceding year’s corresponding quarter, which saw group revenue and PBT of RM896.5 million and RM95.1 million respectively.
Group revenue declined by RM294.4 million (32.8%) largely due to drop in sales volume from domestic operations of its Mazda and Kia marques as they were mainly impacted by the continuous influx of Chinese-made vehicles into the market.
The higher revenue in the preceding year’s corresponding quarter was mainly due to domestic operations of its Mazda marque, especially its CX-30 CKD model, which continued to register strong sales since its launch in March 2023.
In line with the decrease in revenue, the group’s PBT decreased by RM60.2 million (63.4%) compared to the preceding year’s corresponding quarter.
The group has accounted for expenses relating to its employees’ share scheme amounting to RM1.3 million in the quarter under review. There was none in the preceding year’s corresponding quarter.
For the nine-month period ended Jan 31, 2025, the group reported lower revenue and PBT of RM2.1 billion and RM189.7 million respectively compared to the preceding year’s corresponding period, which posted revenue and PBT of RM2.99 billion and RM358.6 million respectively.
Revenue declined by RM897.6 million (30%) largely due to drop in sales volume from domestic operations of its Mazda and Kia marques. In line with the lower revenue, the group’s decreased by RM168.9 million (47.1%) compared to the preceding year’s corresponding period.
The group accounted for expenses relating its employees’ share scheme of about RM5.3 million in the period under review compared to RM0.3 million in the preceding year’s corresponding period.
For the quarter ended Jan 31, 2025, the board has approved and declared a third interim dividend of 1.75 sen single-tier dividend per share in respect of the financial year ending April 30, 2025 (preceding year’s corresponding quarter ended Jan 31, 2024: 4.25 sen single-tier dividend per share). The entitlement date is April 22 and payment is on May 7. This will bring the total dividend declared for the financial period ended Jan 31, 2025 to 15.25 sen single-tier dividend per share (previous financial period ended Jan 31, 2024: 14.25 sen single-tier dividend per share).
Commenting on future prospects, BAuto noted that total industry volume (TIV) in calendar year 2024 of 816,747 units was 2.1% higher (16,926 units) than 2023’s 799,821 units mainly due to factors such as a resilient domestic economy, a stable socio-political environment, a low unemployment rate and a surge in battery electric vehicles.
For calendar year 2025, the TIV is forecast to be lower at 780,000 units after taking into account factors such as the Malaysian economy continuing to remain resilient and the continued launching of new brands or models in the market.
BAuto said the local economy and the automotive industry are expected to be impacted by the continuous influx of Chinese-made vehicles as well as the impending petrol subsidy rationalisation exercise and hike in base electricity tariff in mid-2025. Hence, the launching of new and/or new facelift models of the group’s existing and new vehicle marques is dependent on prevailing market sentiments and economic conditions.
Premised on that, the board anticipates the performance of the group to be challenging for the financial year ending April 30, 2025.
