UIE Plc Reports Robust Q3 2024 Results Amidst Strategic Share Buybacks
UIE Plc. has announced impressive financial results for the first nine months of 2024, driven by strong performances in key investments and strategic financial moves.
Sammanfattning
UIE Plc. reported a net result of USD 82.4 million for the first nine months of 2024, with significant contributions from UP, Schörling, and Greenbridge. The company's strategic share buyback programs aim to enhance shareholder value.
UIE Plc Reports Robust Q3 2024 Results Amidst Strategic Share Buybacks
On November 19, 2024, UIE Plc. announced its financial results for the first nine months of 2024, showcasing a net result of USD 82.4 million. This achievement is primarily attributed to the record performance of UP, and favorable fair value adjustments in Schörling and Greenbridge investments.
Key Financial Performance Indicators
| KPI | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Net Income (USD Million) | 82.4 | N/A | N/A |
| UP Net Profit (MYR Million) | 536.5 | 510.0 | +5% |
| UIE's Share of UP's Net Profit (USD Million) | 57.1 | 53.4 | +6.9% |
| Fair Value of Schörling (SEK Million) | 2,352 | 2,264 | +4% |
| Fair Value of Greenbridge (USD Million) | 61.2 | 48.5 | +26% |
Strategic Initiatives and Market Performance
UIE has continued its strategic share buyback programs, initiated in August 2024, aiming to acquire up to 3% of its share capital by the end of 2025. These initiatives are designed to capitalize on the company's undervaluation in the market, thus enhancing shareholder value.
Conclusion
The robust financial performance of UIE in the first nine months of 2024 is a testament to its strategic investments and operational efficiency. The record profits from UP and significant value increases in Schörling and Greenbridge investments highlight UIE's strong market positioning. The ongoing share buyback programs further reinforce the company's commitment to maximizing shareholder returns. For investors, UIE presents a compelling case for potential growth and value appreciation.
Källa
Sammanfattning
On November 19, 2024, UIE Plc. reported its financial results for the first nine months of 2024. The company achieved a net result of USD 82.4 million, primarily due to strong performance from UP and increased investment values in Schörling and Greenbridge. UP recorded a net profit of MYR 536.5 million, a 5% increase from the previous year, attributed to higher sales prices and reduced production costs. UIE's share of UP's profit was USD 57.1 million, up by USD 3.7 million from 2023. The fair value of UIE's investment in Schörling rose by 4% to SEK 2,352 million, reversing a 5% decline from the previous year, with its USD value increasing by USD 7.5 million to USD 233.0 million. UIE's investment in Greenbridge grew by 26% to USD 61.2 million due to an additional investment of USD 5.2 million and a positive fair value adjustment of USD 7.5 million. Further details can be found in the full Third Quarter Report 2024 on UIE's website.