VCI Global Limited

Good morning everyone, and welcome to VCI Global Fiscal Year 2024 Earnings Conference Call. Joining me today to discuss our results are Victor Hu, our Group Executive Chairman and CEO, and Zifeng Ang, our CFO. Before we begin, I would like to take this opportunity to remind you that our remarks today may contain forward-looking statements, which are subject to future events and uncertainties. Statements that are not historical facts, including but not limited to statements about the company's beliefs and expectations, are forward-looking statements. forward-looking statements involve inherent risks and uncertainties, and our actual results may differ materially from these forward-looking statements. All forward-looking statements should be considered in conjunction with the cautionary statements in our earnings release and the risk factors included in our followings with SES. This presentation also includes certain non-GAAP financial measures which we believe can be helpful in evaluating our performance. However, those measures should not be considered substitutes for comparable GAAP measures. The accompanying conciliation information related to those non-GAAP and GAAP measures can be found in our earnings press release issued earlier today. Without further ado, I will now turn the call over to our Group's Executive Chairman and CEO, Mr Victor Hu.

Thank you, good morning everyone, and thank you for joining the call to discuss our 2024 performance. I am pleased to report a strong year for VCI Global. We achieved a 41% increase in revenue, reaching $27.8 million and $0.4 million increase in net income, amounting to US$7.6 million compared to the previous fiscal year. This remarkable growth was driven by solid performance across all our business segments. Despite a challenging macroeconomic environment, I am particularly proud of the strategic milestone we achieved. While the growth in net profit may appear modest, it reflects deliberate investment we made in building a stronger foundation For example, expanding our team, hiring top talent, and enhancing our infrastructure. These investments are positioning us for accelerated growth and sustainable growth in 2025. One of our standout achievements this year was the success of our technology division solution and consultancy segment. We introduced innovation in generative AI and AI-powered digital human technology, which not only reinforced our vision to lead in the tech space, but also boasted the rapid expansion of our cybersecurity as a service and AI as a Service offerings under VGalancy Memberhood. Our advisory business also saw significant progress. V Capital Consulting Group Limited, or VCCG, our dedicated capital markets advisory division, is preparing for a carve-out IPO. This move reflects our confidence in the long-term potential of the capital market advisory space, even amid broader macroeconomic volatility. To further support our growth, We are expanding our regional footprint with new offices in Singapore aimed at scaling our cybersecurity and capital market advisory services, and in Hong Kong to deepen our presence and client reach across Greater China. This strategy initiative reinforced our position as a regional leader in capital market consultancy. Building on a record-setting year, our strong performance reflects bold strategy execution across high-growth sectors where we see sustained demand. In 2025, we will continue accelerating the development of our cross-factor platform strategy, seamlessly integrating AI infrastructure, C-SaaS, fintech solutions, renewable energy assets, and capital market advisory. Now, I'll turn the call over to Mr. Eng to provide more details on our financial performance.

Thank you, Victor, and thank you again to everyone for joining us today for BCIG's Fiscal Year 2024 Earnings Call. I'm Ang, CFO of VCIG, and I'm pleased to provide an overview of our financial performance. We are proud to have delivered exceptional results in fiscal year 2024. Our revenue rose by 41% compared to the previous year, driven by strong performance across all core verticals. These results validated our long-term strategy and the unwavering dedication of our team. Let's take a closer look at our revenue breakdown. Revenue from business strategy consultancy increased by 1% from US$14.7 million in 2023 to US$14.8 million in FY2024, reflecting overall consistency in performance year-over-year. The company continued to execute high-impact transactions, including the successful Nasdaq listing of Founder Group Limited on October 23, 2024, and YY Group Holding Limited on April 22, 2024. Several other clients are currently progressing through the IPO pipeline, further reinforcing BCI Global's strong positioning and growing credibility within the U.S. capital markets ecosystem. Meanwhile, our technology development, solutions, and consultancy segments saw remarkable growth revenue surged by 155% to USD 11.4 million in FY2024 compared to USD 4.5 million the previous year. The signal increase was driven by advancement in our generative AI solutions, AI digital human technology and other ongoing projects. We also delivered strong improvement in profitability, Through disciplined cost management, EBITDA rose by 13% to $8.3 million in FY2024, representing a 30% margin on revenue. Net income came in at $7.6 million and earnings per share increased by 143%, reaching $0.51. Overall, we are proud of our achievement and the continued improvement in our profitability. Thank you once again for joining us to review our financial results. We look forward to connecting with you at our next announcement.