Press Metal Annual Report 2023

Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 212 213 Integrated Annual Report 2023 STATEMENTS OF FINANCIAL POSITION as at 31 December 2023 Note Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Assets Property, plant and equipment 3 7,215,832 7,164,885 2,555 31 Right-of-use assets 4 481,563 521,484 - - Investment properties 5 49,181 52,805 - - Intangible assets 6 67,111 66,907 - - Investments in subsidiaries 7 - - 1,197,234 1,197,234 Investments in associates 8 1,836,390 1,543,596 1,332,267 1,207,691 Other investments 9 1,803 1,803 - - Derivative financial assets 10 58,067 391,109 2,036 17,226 Deferred tax assets 11 20,993 715 18,151 - Trade and other receivables 12 - - 1,459,776 1,444,633 Prepayments and other assets 5,792 6,829 - - Total non-current assets 9,736,732 9,750,133 4,012,019 3,866,815 Inventories 13 2,566,424 2,794,089 - - Trade and other receivables 12 1,557,448 1,987,868 1,776,496 1,860,472 Prepayments and other assets 41,228 37,331 - - Current tax assets 68,291 18,461 - - Derivative financial assets 10 168,341 124,398 - 1,438 Cash and bank balances 14 1,228,008 604,002 173,206 80,351 Total current assets 5,629,740 5,566,149 1,949,702 1,942,261 Total assets 15,366,472 15,316,282 5,961,721 5,809,076 Equity Share capital 2,052,744 2,052,744 2,052,744 2,052,744 Reserves (159,341) 177,542 (283,300) (219,221) Retained earnings 5,039,611 4,406,758 420,229 371,670 Equity attributable to owners of the Company 15 6,933,014 6,637,044 2,189,673 2,205,193 Non-controlling interests 1,463,239 1,368,306 - - Total equity 8,396,253 8,005,350 2,189,673 2,205,193 Liabilities Loans and borrowings 16 3,067,950 3,300,985 2,782,154 2,985,471 Lease liabilities 206,242 214,799 - - Provisions 17 151,671 170,517 - - Deferred tax liabilities 11 487,661 468,350 - 1,428 Derivative financial liabilities 10 299,084 12,214 34,815 2,120 Total non-current liabilities 4,212,608 4,166,865 2,816,969 2,989,019 Loans and borrowings 16 1,330,836 1,553,185 857,413 543,941 Lease liabilities 22,825 24,344 - - Provisions 17 10,337 9,416 - - Trade and other payables 18 1,248,913 1,344,432 60,953 63,648 Current tax liabilities 4,501 9,947 283 673 Derivative financial liabilities 10 140,199 202,743 36,430 6,602 Total current liabilities 2,757,611 3,144,067 955,079 614,864 Total liabilities 6,970,219 7,310,932 3,772,048 3,603,883 Total equity and liabilities 15,366,472 15,316,282 5,961,721 5,809,076 STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2023 Note Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Revenue 19 13,804,707 15,682,941 772,948 574,794 Cost of sales (11,510,066) (12,801,141) - - Gross profit 2,294,641 2,881,800 772,948 574,794 Other income 65,028 64,942 5,339 78,205 Distribution expenses (314,698) (526,143) - - Administrative expenses (286,450) (310,624) (58,184) (45,182) Net loss on impairment of financial instruments and contract assets (7,407) (273) - - Other expenses (93,943) (100,210) (33,379) (72,986) Results from operating activities 1,657,171 2,009,492 686,724 534,831 Finance income 20 23,797 9,921 107,409 130,962 Finance costs 21 (242,475) (241,990) (165,801) (138,679) Net finance costs (218,678) (232,069) (58,392) (7,717) Share of profit of equity-accounted associates, net of tax 207,356 174,405 - - Profit before tax 22 1,645,849 1,951,828 628,332 527,114 Tax expense 23 (127,857) (185,287) (3,001) (26,086) Profit for the year 1,517,992 1,766,541 625,331 501,028 Other comprehensive (expense)/income, net of tax Items that are or may be reclassified subsequently to profit or loss Cash flow hedge (450,275) 1,009,225 (64,079) 167 Foreign currency translation differences for foreign operations 33,927 (23,884) - - Share of other comprehensive income of equityaccounted associates 12,112 - - - Other comprehensive (expense)/income for the year, net of tax 24 (404,236) 985,341 (64,079) 167 Total comprehensive income for the year 1,113,756 2,751,882 561,252 501,195 Profit attributable to: Owners of the Company 1,215,268 1,406,770 625,331 501,028 Non-controlling interests 302,724 359,771 - - Profit for the year 1,517,992 1,766,541 625,331 501,028 Total comprehensive income attributable to: Owners of the Company 878,385 2,278,171 561,252 501,195 Non-controlling interests 235,371 473,711 - - Total comprehensive income for the year 1,113,756 2,751,882 561,252 501,195 Basic earnings per ordinary share (sen) 25 14.75 17.16 The notes on pages 222 to 305 are an integral part of these financial statements. The notes on pages 222 to 305 are an integral part of these financial statements.

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