Kuala Lumpur, 23 February 2022

AEON CO. (M) BHD. (AEON or the Company) announces today that the Company more than doubles its Profit After Tax (PAT) to RM85.3 million for the financial year ended 31 December 2021 (FY2021) from RM41.4 million in the preceding year, driven by better margins derived through improved purchasing strategy and enhanced negotiations coupled with disciplined cost management.

The financial results for the fourth quarter 2021 (4Q 2021) records a 161.4% jump in net profit to RM71.0 million compared to the same quarter in FY2020. Adapting to the new normal in doing business, the Company showed recovery for the quarter under review, registering revenue of RM992.1 million, reflecting an increase of 8.3% from 4Q FY2020.

In view of the Company’s underlying performance, the Board is pleased to announce a final dividend of 3.0 sen per ordinary share for FY2021 (FY2020:1.5 sen) which is equivalent to RM42.1 million or 49% payout ratio, for the approval of the shareholders.

Shafie Shamsuddin, Managing Director/Chief Executive Officer of AEON said, “We are grateful for the result which was made possible by the commitment and support from our AEON Warriors, business partners and customers. AEON is committed to deliver exciting offerings across New Retail operations in meeting customers’ evolving needs and buying behaviours. However, we remain cautious as the balance of risks is tilted to the downside, mainly from the uncertainties surrounding COVID-19 variants, both domestically and globally.”

As a testament of AEON’s continuous effort to digitalisation and improve its customer experience via the introduction of personal shopper, drive-through service and myAEON2go to offer a safer shopping experience, AEON has been recognised as Malaysia’s Top 10 Leading Brands in KPMG’s Global Customer Experience Excellence 2021 Report.

“We will continue in our digital transformation journey which have produced tangible results and further enhance the adeptness of our e-commerce platform, myAEON2go to improve consumer adoption going forward. Guided by our business approach of Agile, Genba and Entrepreneurial (AGE), we have implemented an enhanced cost structure with leaner organisation which is expected to further contribute towards a more sustainable bottom line.”

“In continuing with our journey to becoming nature positive, we are humbled to be able to integrate AEON’s three key sustainability pillars, People, Planet and Peace, into our core business activities in creating the AEON Living Zone that is seamlessly merging Offline with Online (OMO), which will be showcased in AEON Mall Alpha Angle in April this year,” concluded Shafie.

In line with AEON Sayap Bagimu sustainability initiative for the nation, the Company continues to demonstrate its commitment in championing various initiatives under its three key sustainability pillars. For the People pillar, the company has implemented a minimum wage increase from RM1,200 to RM1,500 per month effective 1 January 2022, ahead of the recommended timeline by the Government. This is a reflection of AEON’s commitment in prioritising the welfare of its employees.

Meanwhile, for the Planet pillar, AEON Mall Taman Maluri will commence usage of solar panel energy in March and AEON Mall Alpha Angle is targeted in April with a few other projects planned for the year. Additionally, under the Peace pillar, the Company’ also aspires to integrate the concept of Inclusive, Digital and Experiential @ AEON (I.D.E.A.) at AEON Mall Alpha Angle by offering a differentiated dimension of shopping experience coupled with sustainability initiatives such as vertical farming, recycling, e-waste management, usage of renewable energy and many more.

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