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Sedania's FY21 net profit leaps to highest on record

KUALA LUMPUR: Sedania Innovator Bhd swung to the black in the financial year ended Dec 31, 2021, with a net profit of RM8.52mil, its highest since the group's initial public offering in 2015.

This comes following a challenging 2020, which saw the group incur a net loss of RM10.23mil due to Covid-19 disruptions.

For FY21, the provider of sustainable energy and healthcare posted a revenue of RM49.1mil compared to a net profit of RM29.74mil in the previous year.

“We are proud to achieve another milestone since our listing in 2015 with our best ever annual results, having pivoted towards Sustainable Energy and Sustainable Healthcare businesses.

"The stellar results were made possible due to the hard work and dedication of our people at Sedania,” said Sedania founder and managing director Datuk Azrin Mohd Noor in a Monday statement.

By segment, Sedania's sustainable energy unit was the best-performing as its revenue surged more than eight-fold to RM15.65mil in FY21 as it resumed onsite activities following a prlonged lockdown in 2020.

The division was seen returning to the black with a pre-tax profit of RM7.29mil in FY21.

Sedania’s other core business, the sustainable healthcare segment, registered a 26.33% year-on-year increase in revenue to RM27.04mil and a 23.14% increase in pre-tax profit to RM5.56mil.

Moving forward, Azrin expects Sedania to achieve greater milestones in FY22 as it continues to position itself as a sustainable company focusing on sustainable energy services and sustainable healthcare products.

“In order for Sedania to consistently register growth in our financial performance, we need to step up our efforts in expanding our Sustainable segments whilst playing our part in saving the environment.

"We are always on the lookout for business opportunities which may fit into our overall growth strategy,” he added.

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