ViTrox : Quarterly Report For The Financial Period Ended 31 March 2023

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

INTERIM FINANCIAL REPORT

FOR THE FIRST QUARTER

ENDED 31 MARCH 2023

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

CONTENTS

	Page
Condensed Consolidated Statement of Comprehensive Income…………………..	1
Condensed Consolidated Statement of Financial Position……..…………………..	2
Condensed Consolidated Statement of Changes in Equity...………………………	3-4
Condensed Consolidated Statement of Cash Flows…..…………………………….	5-6
Notes to the Interim Financial Report………………………………………………….	7-13

VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2023

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

		(The figures have not been audited)
			INDIVIDUAL QUARTER		CUMULATIVE QUARTER
									Corresponding
					Corresponding		Current		preceding
			Current quarter	preceding quarter		period-to-date		period-to-date
			ended		ended		ended		ended
			31-Mar-23		31-Mar-22		31-Mar-23		31-Mar-22
	Note		RM'000		RM'000		RM'000		RM'000
Revenue		133,331	185,277	133,331	185,277
Other operating income		4,899	2,222	4,899	2,222
Operating expenses		(103,323)	(138,719)	(103,323)	(138,719)
Finance costs		(950)	(143)	(950)	(143)
Share of associate's profit/(loss)		1,051	(214)	1,051	(214)
Profit before tax	B12	35,008	48,423	35,008	48,423
Tax (expense)/income	B5	(2,151)	1,447	(2,151)	1,447
Profit for the financial period		32,857	49,870	32,857	49,870

Other comprehensive income for the financial period:-

• Currency translation differences for the foreign operations

(representing item that may be
reclassified subsequently to profit
or loss)	279	183	279	183
Comprehensive income
for the financial period	33,136	50,053	33,136	50,053
Profit/(loss) for the financial period
attributable to:-
- Owners of the Company	32,995	50,024	32,995	50,024
- Non-controlling interests		(138)		(154)		(138)		(154)
	32,857	49,870	32,857	49,870
Comprehensive income for the financial
period attributable to:-
- Owners of the Company	33,274	50,207	33,274	50,207
- Non-controlling interests		(138)		(154)		(138)		(154)
	33,136	50,053	33,136	50,053
Earnings per share attributable
to owners of the Company (sen)	B10
- Basic		3.49		5.30		3.49		5.30
- Diluted	3.18	5.29	3.18	5.29

The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying explanatory notes and audited financial statements for the financial year ended 31 December 2022.

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VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2023

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	As at		As at
	31-Mar-23		31-Dec-22
	RM'000		RM'000
	(Unaudited)		(Audited)
ASSETS
Non-current assets
Property, plant and equipment	168,280	144,654
Investment properties	44,600	44,600
Right-of-use assets	81,056	81,256
Investment in associate	21,090	25,539
Investments in club memberships, at cost	91	91
Deferred tax assets	702		702
	315,819	296,842
Current assets
Inventories	207,350	202,706
Receivables	196,060	252,953
Derivatives	0	282
Prepayments	12,885	13,178
Current tax assets	1,826	1,789
Cash and cash equivalents	415,643		370,402
	833,764		841,310
TOTAL ASSETS	1,149,583	1,138,152
EQUITY AND LIABILITIES
Equity
Share capital	56,079	55,946
Reserves	853,568		818,389
Equity attributable to owners of the Company	909,647	874,335
Non-controlling interests	(895)		(757)
Total equity	908,752	873,578
Non-current liabilities
Deferred tax liabilities	3,498	3,498
Loans and borrowings	56,436	59,638
Lease liabilities	148	174
Deferred income on government grants	549		561
Total non-current liabilities	60,631	63,871
Current liabilities
Derivatives	964	0
Payables	141,704	153,357
Dividend payable	0	11,808
Loans and borrowings	12,944	12,936
Lease liabilities	105	125
Contract liabilities	22,008	19,993
Current tax liabilities	2,475		2,484
Total current liabilities	180,200		200,703
Total liabilities	240,831	264,574
TOTAL EQUITY AND LIABILITIES	1,149,583	1,138,152
Net assets per ordinary share attributable to
owners of the Company (sen)	96.29	92.56

The Condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying explanatory notes and audited financial statements for the financial year ended 31 December 2022.

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VITROX CORPORATION BERHAD

(Incorporated in Malaysia)

Company No: 200401011463 (649966-K)

QUARTERLY REPORT ON RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2023

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(The figures have not been audited)

				Non-distributable			Distributable
								Equity
				Share	Share	Currency		attributable	Non-
	Share	Revaluation	Capital	option	grant	translation	Retained	to owners of	controlling	Total
	capital	reserve	reserve*	reserve	reserve	reserve	profits	the Company	interests	equity
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
Period ended 31 March 2023
Balance at 1 January 2023	55,946	14,160	520	2,305	4,636	445	796,323	874,335	(757)	873,578

Share-based payments

Issue of shares pursuant to Employees' Share Option Scheme

Total transactions with owners

0	0	0	117	1,822	0	0	1,939	0	1,939
133	0	0	(34)	0	0	0	99	0	99
133	0	0	83	1,822	0	0	2,038	0	2,038

Profit/(loss) for the financial period Currency translation differences for foreign

operations (representing other comprehensive income for the financial period)

Comprehensive income for the financial period

Balance at 31 March 2023

0	0	0	0	0	0	32,995	32,995	(138)	32,857
0	0	0	0	0	279	0	279	0	279
0	0	0	0	0	279	32,995	33,274	(138)	33,136
56,079	14,160	520	2,388	6,458	724	829,318	909,647	(895)	908,752

* This represents the cumulative amount transferred from the retained profits of a subsidiary under the statutory requirements of the People's Republic of China.

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