[%HXgr%] 
Research by TA
HOLD – TPRM2.47

" Challenging Outlook”

 Bermaz Auto Bhd (BAuto) post a weaker 1QFY25 results, which came in within expectation. The core net profit decreased 32.7% YoY to RM68.2mn in tandem with a 22.3% drop in revenue.
 The decline was predominantly attributed to reduced sales volume due to stiff competition from other marque distributors.
 1QFY25 sales volume decreased by 23.0% YoY to 5,117 units (Malaysia: 4,555 units and Philippines: 562 units). Notably, the combined sales volume of CX-30 and CX5 CKD models accounted for approximately 74% of the total domestic sales volume in Malaysia.
 The board declared a first interim dividend of 3.5 sen/share for the quarter under review (vs. 1QFY24: 5.0 sen/share).

Analyst: 
Angeline Chin 
[%mtYA%]

$KLSE-BAUTO 
Research by TA
HOLD – TPRM2.47

" Challenging Outlook”

 Bermaz Auto Bhd (BAuto) post a weaker 1QFY25 results, which came in within expectation. The core net profit decreased 32.7% YoY to RM68.2mn in tandem with a 22.3% drop in revenue.
 The decline was predominantly attributed to reduced sales volume due to stiff competition from other marque distributors.
 1QFY25 sales volume decreased by 23.0% YoY to 5,117 units (Malaysia: 4,555 units and Philippines: 562 units). Notably, the combined sales volume of CX-30 and CX5 CKD models accounted for approximately 74% of the total domestic sales volume in Malaysia.
 The board declared a first interim dividend of 3.5 sen/share for the quarter under review (vs. 1QFY24: 5.0 sen/share).

Analyst: 
Angeline Chin 
angelinechin@ta.com.my