$BAUTO (5248.MY)$ known for assembling Mazda-branded cars, saw its share price fall more than 5%.
On December 12, Bauto Auto Bhd released FY25Q2 results. The form shows the current quarter:
Revenue reached RM646.86 million, down 35.8% (YoY);
Net profit attributable to shareholders was RM40.35 million, down 55.2% (YoY);EPS was 3.45 sen;
DPS was 10 sen
The company stated the main reason for the decline in sales was increased competition, especially from Chinese-made cars that were competitively priced and equipped with advanced connectivity features, which led to lower sales in Mazda and Kia's domestic operations.
Outlook for the future the Board anticipates challenges for the financial year ending 30 April 2025, citing inflationary pressures, geopolitical uncertainties, and global growth slowdowns impacting vehicle sales, especially with the influx of Chinese-made vehicles.
The group declared a second interim dividend of 3 sen per share, payable on Feb 7, 2025. But this did not seem to boost its share price.
Source: Announcement