ENRA Group Berhad | Annual Report 2022 13 MANAGEMENT DISCUSSION AND ANALYSIS ENRA Group Berhad concludes the financial year ending 31 March 2022 on a profitable note. The divestment of ENRA Kimia generated a substantial return on investment to the Group and the proceeds provide a platform for ENRA to accelerate the growth of its existing businesses and look for new opportunities. FINANCIAL SNAPSHOT FOR THE YEAR UNDER REVIEW FYE 2021 Change FYE 2022 Remarks RM mil % RM mil Revenue 55.30 13.4 62.71 Energy Services 53.63 12.0 60.03 Improved contribution from ENRA IOL Property Development 1.67 59.7 2.68 Billings of sold units from successful launch of property project Gross Profit 16.69 19.0 19.86 Energy Services 16.41 17.9 19.35 Improved operational efficiencies after fully transitioning to our Ratu ENRA vessel Property Development 0.28 82.1 0.51 In line with ongoing billings of the current project PATAMI/(LATAMI) (6.36) n.m. 7.32 Includes the gain of RM19.6 mil from the divestment of ENRA Kimia, and provisions for impairment of assets ROE (5.6%) n.m. 6.6% ROA (2.6%) n.m. 3.9% * financial figures exclude contributions from ENRA Kimia KEY HIGHLIGHTS FOR THE YEAR i. ENRA Group disposed ENRA Kimia which generated a gain on disposal of RM19.6 mil, and an overall return on investment of RM30.5 mil; ii. ENRA IOL’s improving track record and expertise allowed it to land a sizeable contract supplying lighting solutions for a major highway in the Klang Valley; iii. ENRA SPM nears completion of its maiden FSO and SPM system contract with PCML in Myanmar. As a result, there is an opportunity to redeploy both assets in an environment where energy prices have significantly increased; and iv. ENRA Energy Solutions completed its maiden major contract, and is continuing to expand into the energy market by providing MRO services to a major integrated oil company (“IOC”) to service its power generation assets.
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