CREATING SMILES, CONNECTING HEARTS:
AEON CELEBRATES 40 YEARS OF EXCELLENCE AND UNVEILS ‘SENYUM TOUR’ ROADSHOW ACROSS MALAYSIA

Kuala Lumpur, 23 February 2024 – AEON CO. (M) BHD. (AEON or the Company) announced today that the Company improved its performance for the financial year ended 31 December 2023 (FY2023) registering Profit After Tax (PAT) of RM114.8 million, a 3.2% increase from RM111.2 million recorded in the preceding year. The Company also recorded a higher PAT of RM32.6 million for the individual quarter (Q4 FY2023), an increase of 30.9% compared to the same corresponding quarter last year (Q4 FY2022) of RM24.9 million.

The retail business segment reported revenue of RM859.0 million, reflecting a 4.9% decrease compared to the corresponding quarter’s RM903.7 million. The decline was mainly due to high base effects during the corresponding quarter.

Revenue from the property management services segment increased to RM174.3 million, 10.2% higher compared to the corresponding quarter of RM158.1 million. The growth was contributed by an improvement in occupancy rate and effective rental renewal.

In view of the Company’s underlying performance, the Board has proposed a final dividend of 4.0 sen per ordinary share for FY2023 (FY2022: 4.0 sen) which is equivalent to RM56.2million or 49% pay-out ratio, subject to the approval of the shareholders in the upcoming AGM in May 2024.

Keiji Ono, Managing Director of AEON said, “We are grateful for the year-end result which was made possible by the strong support from our AEON People, business partners and customers. Our growth in profit is a result of our commitment in capturing diverse customer values through our product portfolio mix, particularly our private brands as well as accelerating digital shift and implementing sustainability initiatives, while effectively managing operating costs.”

The success is supported by the performance of its property management services. AEON is actively expanding and enriching its presence within communities through the opening of new stores and rejuvenation projects for both stores and malls. In 2023, AEON successfully enhanced customer comfort and convenience with the rejuvenation of AEON Melaka Shopping Centre and AEON Mall Cheras Selatan. Following their reopening, both malls recorded notable increase in sales and customer count.

Facelift projects are also in the pipeline including AEON IOI Bandar Puchong, AEON Bukit Indah, and AEON Tebrau City in Johor. Actively venturing into untapped markets, AEON adapts to diverse customer needs with the plan to open its new stores at Setia City Mall and KL Midtown.

The Company continues to prioritise its sustainability agenda, creating long-term value for shareholders, customers, and employees. The Company’s commitment to green initiatives include the installation of solar panels in its malls. AEON has progressively installed at its malls and as to date seven malls have successfully completed the installation of solar panels, with the exception of generating electricity from solar by March.

“We have integrated ESG practices across our business operations to safeguard enterprise value. Our initiatives, such as installations of solar PV, electric vehicles charging stations, organic waste management, reducing single-use plastic, and broadening the 3R campaign across our malls are part of our initiatives to foster a more environmentally friendly shopping environment,”

“I would also like to congratulate Naoya Okada, who will be succeeding me as Managing Director of AEON, effective 1st March 2024. His stellar leadership as Deputy Managing Director and Chief Operating Officer has undoubtedly prepared him for this role. I am confident Naoya Okada will steer AEON towards continued success and prosperity.” he added.

This year marks AEON’s 40th anniversary in Malaysia and the Company plans to present a range of anniversary activities and promotions to commemorate this milestone and strengthen connections with its ecosystem.

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