SEDANIA records best 9-months profit amidst pandemic

KUALA LUMPUR: SEDANIA Innovator Berhad (“SEDANIA'' or the “Company”), today reported financial results for its third quarter ended 30 September 2021.

Key Highlights: ● Revenue was RM10.25 million, a 310 per cent increase from RM2.50 million last year ● Profit after tax (PAT) jumped to RM2.06 million from RM0.05 million in Q3 2020 ● 9-months results for FY2021 at all-time high with RM10.17 million.

SEDANIA Founder and Managing Director, Datuk Azrin Mohd Noor said, “We are seeing a steady performance with healthy profit contributions from our main segments, Healthtech and Greentech.

“Our continuous momentum is driven by strong market demand for sustainable energy and sustainable healthcare”.

This is the first time SEDANIA’s 9-months revenue hit the RM38 million mark with a profit margin of 26.7 per cent.

Earnings per share (EPS) rose to 2.45 sen from -1.87 as a result.

Its 3QFY21’s profit before tax soared to RM2.30 million versus RM0.02 million a year ago, attributed to a lower operating cost to revenue ratio, in addition to stronger sales.

The Group, which provides sustainable energy services (GreenTech) and eco-friendly preventive healthcare products (HealthTech), said its revenue increased 310 per cent to RM10.25 million in 3QFY21 from RM2.50 million in 3QFY20.

“Revenue from our healthcare products in Q3 2021 rose 47.6 per cent internationally compared to Q1 2021 as our brand Offspring expanded to 19 countries.

“This aggressive B2B2C growth strategy remains profitable with a profit before tax margin of 26.2 per cent in our 9-months ending 30 Sept 2021”, commented Group CEO Daniel Ruppert.

The Group’s sustainable energy services (GreenTech) revenue increased 16.5 per cent to RM848,000 in Q3 2021 from RM728,000 in Q3 2020, adding to a 9-months revenue in FY2021 of RM13.75 million.

SEDANIA’s balance sheet strength continues to be in a net cash position, with net cash per share of 2.47 sen as at end-September 2021, backed by net assets of 12.75 sen per share.

Looking ahead, Azrin said the Group holds a positive view on its ESG-driven markets for sustainable energy and healthcare. Many companies are increasing their efforts and investments towards ESG transformation.

He also noted that after three profitable quarters in 2021, the Group is expecting to close the financial year satisfactorily - subject to any unforeseen circumstances in the last stretch of the year.