- Achieves highest quarterly revenue of RM76.6 since listing (+23% YoY)
- Rewards shareholders with a second interim dividend of 0.78 sen per share, representing a payout ratio of 71%
CTOS Digital Berhad (CTOS Digital or the Group) posted a new record revenue amounting to RM76.6 million in 2Q 2024, signifying a significant 23% YoY increase as compared to RM62.2 million in 2Q 2023.
This performance was backed by growth across all business segments (Key Accounts, Commercial and Direct-to-Consumer) both YoY and QoQ. Profit after tax and minority interest (“PATAMI”), jumped by 21% to RM25.5 million in 2Q 2024, from RM21.1 million in the similar quarter of the preceding year. The International operations comprising the subsidiaries in the Philippines and Indonesia demonstrated robust momentum, contributing RM9.9 million to group revenue during the quarter.
In the first half of the year ended 30 June 2024 (1H 2024), revenue improved by 22% to RM148.2 million from RM121.8 million a year ago, while PATAMI grew by 23% to RM46.3 million versus RM37.7 million in 1H 2023.
CTOS Digital’s Executive Director and Group Chief Executive Officer, Erick Hamburger, commented on the results and prospects: “We are pleased to announce another quarter of growth, driven by positive results across all business segments. In terms of service types, our Comprehensive Portfolio Review and Analytics and Digital Reports experienced the highest surge in demand. Looking ahead, we have several projects slated for implementation in the second half of the year, poised to accelerate the adoption of our digital solutions and advanced analytics. Both banks and non-bank financial institutions are increasingly leveraging data and analytics to fuel their growth, and we are well-positioned to support their needs.
Our international operations under the Finscore brand are rapidly gaining traction, evidenced by rising usage volumes since completing the acquisitions. The integration of our alternative data platform with existing analytics capabilities uniquely positions us to meet the evolving credit solution demands in these markets. Moving forward, we are set to aggressively upsell our analytics and digital solutions, deepening client value and enhancing our profit margins. Numerous growth vectors have been identified in regional markets, and we are poised to capitalise on these exciting opportunities.
We believe our services and solutions will remain essential as the digital economy expands in Malaysia and throughout ASEAN. CTOS will continue investing for future growth by strengthening our marketing and support teams locally and regionally to increase market penetration, boost consumption, and cross-sell value-added solutions. With our superior data assets and sophisticated capabilities, we are confident in our ability to continue delivering sustainable value to our customers and shareholders,” he added.
About CTOS Digital Berhad (www.ctosdigital.com)
CTOS Digital Berhad is the holding company of CTOS Data Systems Sdn Bhd, the leading Credit Reporting Agency in Malaysia.
It also has 24.83% stake in Business Online Public Company Limited (BOL), the leading credit information and risk management provider in Thailand. The Group also undertakes international operations and has a presence in the Philippines and Indonesia under the brandname, FinSCore. Founded in 1990, the Group offers a broad suite of innovative digital products and credit risk management solutions and services which gives it a solid platform to thrive not just in credit reporting, but also in digital credit decisioning across Southeast Asia.
With a broad suite of innovative products and services developed in Malaysia over the company’s 30-year history, the Group’s digital solutions are widely used by the country’s banking and financial institutions, insurance and telecommunication companies, large corporations, SMEs, legal firms, statutory bodies as well as consumers for self-checks. The Group provides solutions across three core customer segments – the Key Account segment, which includes a significant number of leading financial institutions and corporates; the Commercial-Malaysia segment, which includes a growing number of small-and-medium-sized businesses, the Commercial-International segment which includes international customers located across Asia Pacific and Europe; as well as c.3.8 million individual customers registered with CTOS ID in its Direct-to-Consumer (D2C) segment.
CTOS Digital Berhad’s mission is to empower individuals and businesses with the confidence to make sound credit decisions through access to data and insights at greater ease and speed, leading the community to better financial health. While its vision is to make Malaysia a centre of excellence for credit reporting in ASEAN.
Source: CTOS Investor Relations
CTOS is a member of BIIA
