Kimlun Corporation Berhad Annual Report 2024

MANAGEMENT DISCUSSION AND ANALYSIS Segmental Revenue and Gross Profit* *: The segmental revenue and gross profit stated in the commentary in relation to the respective segment were inclusive of inter-segment transactions. FY2024 RM'000 FY2023 RM'000 Changes RM'000 % Revenue Construction 1,104,477 679,704 424,773 62.5 M&T 279,424 249,999 29,425 11.8 Property Development 8,565 23,809 (15,244) -64.0 Investment 9,957 8,908 1,049 11.8 Elimination (195,010) (109,851) (85,159) 77.5 Consolidated revenue 1,207,413 852,569 354,844 41.6 GP Construction 62,909 25,055 37,854 151.1 M&T 56,520 37,013 19,507 52.7 Property Development (125) 3,982 (4,107) -103.1 Investment 9,957 8,908 1,050 11.8 Elimination (30,788) (13,376) (17,412) 130.2 Consolidated GP 98,473 61,582 36,892 59.9 GP margin Construction 5.7% 3.7% M&T 20.2% 14.8% Property Development -1.5% 16.7% Investment 100.0% 100.0% Consolidated GP margin 8.2% 7.2% The increase in construction revenue in FY2024 was mainly attributable to revenue contribution from new projects secured in FY2023 and FY2024, and higher revenue arose from the acceleration of construction progress of the Sarawak-Sabah Link Road Construction Project (Lawas-Long Lopeng Junction) (“SSLR Project”). The increase in M&T revenue in FY2024 was mainly attributable to higher sales of pre-cast concrete products and quarry products to external parties. The decrease in property development revenue was mainly due to one of the on-going development projects was at tail end. The construction and M&T divisions recorded higher GP in FY2024 on the back of higher revenue and better GP margin on economic of scale from higher level of operation. 022

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