Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 216 217 Integrated Annual Report 2023 Company Note Non-distributable Distributable Share capital RM’000 Reorganisation reserve RM’000 Hedging reserve RM’000 Retained earnings RM’000 Total equity RM’000 At 1 January 2022 1,088,487 (230,702) 11,314 363,384 1,232,483 Cash flow hedge - - 167 - 167 Total other comprehensive income for the year - - 167 - 167 Profit for the year - - - 501,028 501,028 Total comprehensive income for the year - - 167 501,028 501,195 Contributions by and distributions to owners of the Company Dividends to owners of the Company 26 - - - (492,742) (492,742) Issue of ordinary shares 15 964,257 - - - 964,257 Total transactions with owners of the Company 964,257 - - (492,742) 471,515 At 31 December 2022/1 January 2023 2,052,744 (230,702) 11,481 371,670 2,205,193 Cash flow hedge - - (64,079) - (64,079) Total other comprehensive expense for the year - - (64,079) - (64,079) Profit for the year - - - 625,331 625,331 Total comprehensive income for the year - - (64,079) 625,331 561,252 Contributions by and distributions to owners of the Company Dividends to owners of the Company 26 - - - (576,772) (576,772) Total transactions with owners of the Company - - - (576,772) (576,772) At 31 December 2023 2,052,744 (230,702) (52,598) 420,229 2,189,673 Statement of Changes in Equity for the year ended 31 December 2023 The notes on pages 222 to 305 are an integral part of these financial statements. STATEMENTS OF CASH FLOWS for the year ended 31 December 2023 Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Cash flows from operating activities Profit before tax 1,645,849 1,951,828 628,332 527,114 Adjustments for: Depreciation of investment properties 1,558 2,141 - - Depreciation of property, plant and equipment 654,911 551,384 10 13 Depreciation of right-of-use assets 30,326 30,555 - - Dividend income - - (735,870) (545,748) Finance costs 242,475 241,990 165,801 138,679 Finance income (23,797) (9,921) (107,409) (130,962) Loss on disposal of right-of-use assets 49 - - - Gain on disposal of investment property (370) - - - Loss/(Gain) on derecognition of right-of-use assets 905 (60) - - Impairment loss on investment in a subsidiary - - - 7,128 Impairment loss of financial instruments 7,407 273 - - Loss/(Gain) on disposal of property, plant and equipment 751 (228) - - Loss on disposal of investment in subsidiaries 1,223 - - - Others 116 110 - - Property, plant and equipment written off 20,116 18,035 - - Share of profit of equity-accounted associates, net of tax (207,356) (174,405) - - Unrealised derivative loss/(gain) 3,717 619 (5,163) (78,030) Unrealised foreign exchange (gain)/loss (8,059) (927) 31,613 49,264 Operating profit/(loss) before changes in working capital 2,369,821 2,611,394 (22,686) (32,542) Change in derivatives 39,688 (56,053) - - Change in inventories 227,665 (60,562) - - Change in trade and other payables and provisions (70,708) (43,955) (36,897) 5,581 Change in trade and other receivables and prepayments 422,302 (233,541) 175,040 (1,306,632) Change in contract assets - 115 - - Change in contract liabilities - (286) - - Cash generated from/(used in) operations 2,988,768 2,217,112 115,457 (1,333,593) Tax paid (124,677) (158,937) (2,735) (1,550) Tax refunded 1,891 - - - Net cash from/(used in) operating activities 2,865,982 2,058,175 112,722 (1,335,143)
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