DRB-Hicom: DRB HICOM : REPORTS RM247.39 MILLION IN PROFIT BEFORE TAX FOR 2024

MEDIA RELEASE FOR IMMEDIATE RELEASE DRB-HICOM REPORTS RM247.39 MILLION IN PROFIT BEFORE TAX FOR 2024 Revenue increases to RM16.19 billion during the year SHAH ALAM, Thursday, 27 February 2025 - DRB-HICOM Berhad ("DRB-HICOM" or "the Group") reported a pre-tax profit ("PBT") of RM247.39 million for the financial year ended 31 December 2024 ("FY2024"). This was supported by revenue of RM16.19 billion, a 2.1% increase from RM15.85 billion reported for the previous financial year ended 31 December 2023. For the fourth quarter ended 31 December 2024 ("Q4FY2024"), the Group reported a 5.2% increase in revenue to RM3.97 billion, compared to RM3.77 billion in the same quarter of FY2023. This growth was mainly driven by higher sales across the Automotive, Banking, and Properties sectors. The Group however recorded a loss before tax of RM35.17 million in Q4FY2024, primarily attributed to reduced profit in the Banking sector, which was impacted by higher credit loss allowances on customer financing and investment impairments. Additionally, the Automotive sector posted lower profits, mainly due to higher discounts and incentives to clear year-end stock. These were partially offset by higher contributions from the Properties, as well as the Aerospace and Defence sectors. REVENUE GROWTH IN BANKING, AEROSPACE & DEFENCE, POSTAL AND SERVICES SECTORS For the financial year under review, the Group recorded revenue growth in the following key business sectors: Banking: The sector recorded revenue of RM2.11 billion, an increase of 23.2% (FY2023: RM1.72 billion), due to higher financing income driven by growth in financing volume attributed to sustainable growth and an expanding customer base. Aerospace and Defence: Revenue grew by 12.1% to RM771.72 million (FY2023: RM688.21 million), mainly driven by increased product deliveries of single-aisle aircraft and certain aircraft parts in response to greater demand from airlines. Services: Revenue rose by 5.6% to RM189.59 million (FY2023: RM179.61 million), primarily due to a higher turnout of commercial vehicles for inspections in the vehicle inspection business segment. Postal: Revenue improved by 2.5% to RM1.77 billion (FY2023: RM1.73 billion), primarily driven by higher revenue from the in-flight catering business which saw an increase in the number of meals prepared, and the ground handling business which benefited from a rise in flight operations. PROSPECTS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2025 The Malaysian economy is expected to remain resilient in 2025, supported by initiatives under the Madani Economy framework. The strength of economic activity this year will primarily be driven by robust domestic expenditure. The global outlook remains uncertain due to escalating risks, including newly imposed US tariffs, intensified trade wars, geopolitical tensions, and financial market volatility. The Total Industry Volume ("TIV") for automotive sales in Malaysia achieved a historic high for the third consecutive year, with 816,747 new vehicles registered in 2024 (2023: 799,821 units; 2022: 721,177 units). The growth in TIV has been fuelled by an influx of new foreign brands, particularly from China. In addition, there is strong consumer demand and growing interest in electric vehicles, including the recently launched Proton e.MAS 7 on 16 December 2024. The Group remains committed to enhancing its product offerings, adopting advanced technologies, and elevating customer experience across all marques, including PROTON, Honda, Mitsubishi and Isuzu. Leveraging on DRB-HICOM's diversified portfolio, the Group continues to demonstrate resilience while strengthening its digital capabilities, particularly in the Banking, Postal, and Services sectors. Meanwhile, the increasing demand for global travel presents growth opportunities for the Group's aerospace business. Additionally, the on-going development of the Automotive High-Tech Valley in Tanjong Malim, Perak, will be the catalyst for the Properties sector in the future. The Group anticipates a moderate outlook for the financial year ending 31 December 2025. -END- ABOUT DRB-HICOM www.drb-hicom.com DRB-HICOM Berhad ("DRB-HICOM") is one of Malaysia's leading group of companies with core businesses in the Automotive, Aerospace & Defence, Banking, Postal, Services, and Properties sectors. With 89 active companies in its stable and more than 44,000 employees group-wide, DRB-HICOM's aim is to continue adding value and propelling the nation's development. In the Automotive sector, DRB- HICOM is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. In Aerospace and Defence, DRB-HICOM is involved through its subsidiaries CTRM and DEFTECH, while it is represented in the postal segment through its subsidiaries Pos Malaysia, and banking through Bank Muamalat. In the Services segment, DRB-HICOM is involved in various businesses, including concession, education, aviation and logistics and investment holdings whereas in Properties, DRB-HICOM is involved in the development of industrial properties. STATEMENT ON FORWARD - LOOKING DISCLOSURES All statements herein, other than historical facts, contain forward-looking statements and are based on DRB-HICOM's current forecasts, expectations, targets, plans, and evaluations. Any forecasted value is calculated or obtained based on certain assumptions. Forward-looking statements involve inherent risks and uncertainties. A number of significant factors could therefore cause actual results to differ from those contained in any forward-looking statement. Significant risk factors include: Feasibility of each target and initiative as laid out in this news release; Fluctuations in interest rates, exchange rates and oil prices; Changes in laws, regulations and government policies; and Regional and/or global socioeconomic changes. Potential risks and uncertainties are not limited to the above and DRB-HICOM are not under any obligation to update the information in this news release to reflect any developments or events in the future. If you are interested in investing in DRB-HICOM, your investment decision is at your own risk, taking the foregoing into consideration. Please note that neither DRB-HICOM nor any third-party providing information shall be responsible for any loss or damage that may result from your investment in DRB-HICOM based on the information presented in this news release. MEDIA CONTACT POINT: Cairil Irwan Amir Chief Communication Officer DRB-HICOM Berhad Tel: +603 2052 8120 cairil.amir@drb-hicom.com Leong Shen-li (Mr) Senior Manager Group Strategic Communications Division DRB-HICOM Berhad Tel: +603 2052 8066 leong.shenli@drb-hicom.com Attachments Original document Permalink Disclaimer DRB-HICOM Bhd published this content on February 27, 2025 , and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 27, 2025 at 10:16:08.182 . MEDIA RELEASE FOR IMMEDIATE RELEASE DRB-HICOM REPORTS RM247.39 MILLION IN PROFIT BEFORE TAX FOR 2024 Revenue increases to RM16.19 billion during the year SHAH ALAM, Thursday, 27 February 2025 - DRB-HICOM Berhad ("DRB-HICOM" or "the Group") reported a pre-tax profit ("PBT") of RM247.39 million for the financial year ended 31 December 2024 ("FY2024"). This was supported by revenue of RM16.19 billion, a 2.1% increase from RM15.85 billion reported for the previous financial year ended 31 December 2023. For the fourth quarter ended 31 December 2024 ("Q4FY2024"), the Group reported a 5.2% increase in revenue to RM3.97 billion, compared to RM3.77 billion in the same quarter of FY2023. This growth was mainly driven by higher sales across the Automotive, Banking, and Properties sectors. The Group however recorded a loss before tax of RM35.17 million in Q4FY2024, primarily attributed to reduced profit in the Banking sector, which was impacted by higher credit loss allowances on customer financing and investment impairments. Additionally, the Automotive sector posted lower profits, mainly due to higher discounts and incentives to clear year-end stock. These were partially offset by higher contributions from the Properties, as well as the Aerospace and Defence sectors. REVENUE GROWTH IN BANKING, AEROSPACE & DEFENCE, POSTAL AND SERVICES SECTORS For the financial year under review, the Group recorded revenue growth in the following key business sectors: Banking: The sector recorded revenue of RM2.11 billion, an increase of 23.2% (FY2023: RM1.72 billion), due to higher financing income driven by growth in financing volume attributed to sustainable growth and an expanding customer base. Aerospace and Defence: Revenue grew by 12.1% to RM771.72 million (FY2023: RM688.21 million), mainly driven by increased product deliveries of single-aisle aircraft and certain aircraft parts in response to greater demand from airlines. Services: Revenue rose by 5.6% to RM189.59 million (FY2023: RM179.61 million), primarily due to a higher turnout of commercial vehicles for inspections in the vehicle inspection business segment. Postal: Revenue improved by 2.5% to RM1.77 billion (FY2023: RM1.73 billion), primarily driven by higher revenue from the in-flight catering business which saw an increase in the number of meals prepared, and the ground handling business which benefited from a rise in flight operations. PROSPECTS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2025 The Malaysian economy is expected to remain resilient in 2025, supported by initiatives under the Madani Economy framework. The strength of economic activity this year will primarily be driven by robust domestic expenditure. The global outlook remains uncertain due to escalating risks, including newly imposed US tariffs, intensified trade wars, geopolitical tensions, and financial market volatility. The Total Industry Volume ("TIV") for automotive sales in Malaysia achieved a historic high for the third consec