FINANCIAL HIGHLIGHTS FY2021

Revenue
RM
16.36
bil
( 2020 : RM7.24 billion )
126%
ROE
131.3
%
( 2020 : 36.0% )
265%
Net Profit
RM
7.82
bil
( 2020 : RM1.79 billion )
337%
EPS
95.9
sen
( 2020 : 21.9 sen )
338%
Total Assets
RM
9.78
bil
( 2020 : RM8.71 billion)
12%
Net Dividend per Share
65.1
sen
( 2020 : 11.8 sen )
452%

DIVIDEND PAYOUT

Dividend Policy: 50% of Profit After Tax and Minority Interest

For FY2021, the Company declared additional Special Dividend of 20% for the 2QFY21, 3QFY21 and 4QFY21.

2.4 2.4 2.8 2.5 11.8 51.0 14.1 65.1 + % 452

Note: The dividends have been restated to reflect the effect of bonus issue.

CREATING VALUE, SHARING SUCCESS
IN A LANDMARK YEAR

GOOD HEALTH AND GOOD DAY FELLOW STAKEHOLDERS.
In a year like no other, we have been reminded that health is the one wealth that truly matters. As the pandemic raged on, Top Glove intensified efforts to produce more quality gloves to meet the urgent need for Personal Protective Equipment (PPE), as healthcare personnel bravely took up their positions on the frontlines of the global war against COVID.

MANAGEMENT DISCUSSION AND ANALYSIS

For financial year 2021 (FY2021), Top Glove’s Sales Revenue amounted to RM16.36 billion, soaring 126% from FY2020. Profit After Tax (PAT) also grew to RM7.82 billion, a 337% jump compared with the previous financial year. Meanwhile, the Group’s net cash position as at 31 August 2021 stood at a healthy RM1.74 billion. The Group’s FY2021 performance is summarised in the following charts.

PERFORMANCE MILESTONES FOR FY2021

UNSURPASSED VALUE CREATION & SHARING
OUR SUCCESSES WITH STAKEHOLDERS IN FY2021

OUR VALUE CREATION MODEL

Our model is built with sustainability and responsibility in mind. We leverage on the six capitals to drive our strategic intents, which considers our material matters and competitive strengths, which in turn generate the output and the outcomes which reflect the value created for our stakeholders.

ENVIRONMENTAL: TRANSITIONING INTO A
NET ZERO CARBON BUSINESS

All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd

FY2021 ENVIRONMENTAL HIGHLIGHTS

Carbon Emission Reduction Performance as part of Group KPI

11 factories are certified with Environmental Management System ISO 14001 as at FY2021

Net zero carbon roadmap & target setting in progress

  • Solar Power System
    implementation at 7 factories
    with capacity of
    5.34 MWp

  • 48,261
    trees planted at
    plantation land
    in Indonesia to conserve
    the environment

  • Approximately 1,000
    of eco bricks
    to build modular structures under our Eco Brick Programme towards reducing plastic waste

    Short and medium term zero carbon targets established

    1

    To achieve zero carbon emissions at water treatment plants by FY2022

    2

    To achieve zero carbon emissions at office premises & warehouses by FY2025

    3

    To reduce 25% of carbon emission intensity by FY2025, against base year FY2021

    Approximately 98%
    of packaging materials
    (in terms quantity) made of recycled or recyclable material

    Nearly 2.1 million of formers reglazed and reused, results in cost savings of RM16.3 million for reglazing and conversion as well as waste disposal management

    Savings of RM50,786 on waste disposal

    Reclaimed torn nitrile rubber gloves recycled and upcycled into
    1.3 million pieces of rubber gaskets, 205,300 and 340 pieces of rubber sealants and rubber floor mats

    Revenue: RM130,725
    54.8 m³ in landfill related mitigation

    RM96,279 total cost savings

    Next:

    SOCIAL: CREATING VALUE THROUGH
    SOCIAL ENGAGEMENT

    SOCIAL: A PEOPLE CENTRIC CORPORATE CITIZEN

    All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd

    FY2021 SOCIAL HIGHLIGHTS


    Verified by independent third party consultant that the Company is free of all 11 International Labour Organisation (ILO) forced labour indicators

    Investment of RM220 million to improve accommodation for 13,000 employees

    Contributed RM2.2 billion in income tax towards the nation’s building and to promote sustainable economic growth

    Strong representation of women in our workforce: 42% at board level, 52% at managerial level

    Donated
    RM191 million
    worth of financial aid, personal protective equipment and medical devices to support communities and front liners during the COVID pandemic, including 12 million pieces of medical gloves

    Provided 9,720 job opportunities of which 85% are local

    Awarded 11 scholarships worth a total of over
    RM½ million

    Invested
    RM1.18 million in employee training & achieved a total of 355,780 training hours

    Helped more than 1,000 needy families, schools and charity organisations

    94% or 20,720 of our global workforce were fully vaccinated against COVID as at 25 October 2021

    Next:

    GOVERNANCE: STRENGTHENING GOOD CORPORATE GOVERNANCE AND RESPONSIBLE BUSINESS CULTURE

    GOVERNANCE: STRENGTHENING GOOD CORPORATE GOVERNANCE AND RESPONSIBLE BUSINESS CULTURE

    All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd

    FY2021 GOVERNANCE HIGHLIGHTS

    Adoption of Independent Directors’ Tenure Policy:
    Limiting the tenure of Independent Directors to 9 years without any further extension

    Quarterly engagements between independent directors and worker representatives

    Board evaluation conducted by independent external party

    Diverse gender and skills across Board of Directors, with 42% of female directors

    40% of KPI linked to ESG metrics

    Next:

    ENVIRONMENTAL: TRANSITIONING INTO A NET ZERO CARBON BUSINESS

    23RD VIRTUAL ANNUAL GENERAL MEETING

    Add to Calendar
    Day and Date

    Thursday, 6 January 2022

    Time

    10:30 a.m.

    Online Meeting Platform

    Securities Services ePortal
    https://sshsb.net.my/

    Broadcast Venue

    TG Grand Ballroom
    Level 9, Top Glove Tower, 16, Persiaran Setia Dagang, Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan, Malaysia

    (Members/Proxies/Corporate Representatives will not be allowed to be physically present at the Broadcast Venue)

    Modes of Communication
    1. Typed text in the Online Meeting Platform
    2. Email your questions to
      [email protected]
      prior to the 23rd AGM

    Corporate Video

    2021 Key Highlights

    FINANCIAL HIGHLIGHTS FY2021

    Revenue
    RM
    16.36
    bil
    ( 2020 : RM7.24 billion )
    126%
    Net Profit
    RM
    7.82
    bil
    ( 2020 : RM1.79 billion )
    337%
    Total Assets
    RM
    9.78
    bil
    ( 2020 : RM8.71 billion)
    12%
    ROE
    131.3
    %
    ( 2020 : 36.0% )
    265%
    EPS
    95.9
    sen
    ( 2020 : 21.9 sen )
    338%
    Net Dividend per Share
    65.1
    sen
    ( 2020 : 11.8 sen )
    452%

      DIVIDEND PAYOUT

      Dividend Policy: 50% of Profit After Tax and Minority Interest

      For FY2021, the Company declared additional Special Dividend of 20% for the 2QFY21, 3QFY21 and 4QFY21.

      Note: The dividends have been restated to reflect the effect of bonus issue.

      Letter to Stakeholders
      and Management
      Discussion & Analysis

      CREATING VALUE, SHARING SUCCESS IN A LANDMARK YEAR

      GOOD HEALTH AND GOOD DAY FELLOW STAKEHOLDERS.
      In a year like no other, we have been reminded that health is the one wealth that truly matters. As the pandemic raged on, Top Glove intensified efforts to produce more quality gloves to meet the urgent need for Personal Protective Equipment (PPE), as healthcare personnel bravely took up their positions on the frontlines of the global war against COVID.

      MANAGEMENT DISCUSSION AND ANALYSIS

      For financial year 2021 (FY2021), Top Glove’s Sales Revenue amounted to RM16.36 billion, soaring 126% from FY2020. Profit After Tax (PAT) also grew to RM7.82 billion, a 337% jump compared with the previous financial year. Meanwhile, the Group’s net cash position as at 31 August 2021 stood at a healthy RM1.74 billion. The Group’s FY2021 performance is summarised in the following charts.

      PERFORMANCE MILESTONES FOR FY2021

      UNSURPASSED VALUE CREATION & SHARING
      OUR SUCCESSES WITH STAKEHOLDERS IN FY2021

      How We Create Value

      OUR VALUE CREATION MODEL

      Our model is built with sustainability and responsibility in mind. We leverage on the six capitals to drive our strategic intents, which considers our material matters and competitive strengths, which in turn generate the output and the outcomes which reflect the value created for our stakeholders.

      SUSTAINABILITY VIDEO

      ENVIRONMENTAL

      SOCIAL

      GOVERNANCE

      ENVIRONMENTAL: TRANSITIONING INTO A NET ZERO CARBON BUSINESS

      All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd

      FY2021 ENVIRONMENTAL HIGHLIGHTS

      Carbon Emission Reduction Performance as part of Group KPI

      11 factories are certified with Environmental Management System ISO 14001 as at FY2021

      Net zero carbon roadmap & target setting in progress

      • Solar Power System
        implementation at 7 factories
        with capacity of
        5.34 MWp

      • 48,261
        trees planted at
        plantation land
        in Indonesia to conserve
        the environment

      • Approximately 1,000
        of eco bricks
        to build modular structures under our Eco Brick Programme towards reducing plastic waste

        Short and medium term zero carbon targets established

        1

        To achieve zero carbon emissions at water treatment plants by FY2022

        2

        To achieve zero carbon emissions at office premises & warehouses by FY2025

        3

        To reduce 25% of carbon emission intensity by FY2025, against base year FY2021

        Approximately 98%
        of packaging materials
        (in terms quantity) made of recycled or recyclable material

        Nearly 2.1 million of formers reglazed and reused, results in cost savings of RM16.3 million for reglazing and conversion as well as waste disposal management

        Savings of RM50,786 on waste disposal

        Reclaimed torn nitrile rubber gloves recycled and upcycled into
        1.3 million pieces of rubber gaskets, 205,300 and 340 pieces of rubber sealants and rubber floor mats

        Revenue: RM130,725

        54.8 m³ in landfill related mitigation

        RM96,279 total cost savings

        Next:

        SOCIAL: CREATING VALUE THROUGH SOCIAL ENGAGEMENT

        SOCIAL: A PEOPLE CENTRIC CORPORATE CITIZEN

        All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd

        FY2021 SOCIAL HIGHLIGHTS


        Verified by independent third party consultant that the Company is free of all 11 International Labour Organisation (ILO) forced labour indicators

        Investment of RM220 million to improve accommodation for 13,000 employees

        Contributed RM2.2 billion in income tax towards the nation’s building and to promote sustainable economic growth

        Strong representation of women in our workforce: 42% at board level, 52% at managerial level

        Donated
        RM191 million
        worth of financial aid, personal protective equipment and medical devices to support communities and front liners during the COVID pandemic, including 12 million pieces of medical gloves

        Provided 9,720 job opportunities of which 85% are local

        Awarded 11 scholarships worth a total of over
        RM½ million

        Invested
        RM1.18 million in employee training & achieved a total of 355,780 training hours

        Helped more than 1,000 needy families, schools and charity organisations

        94% or 20,720 of our global workforce were fully vaccinated against COVID as at 25 October 2021

        Next:

        GOVERNANCE: STRENGTHENING GOOD CORPORATE GOVERNANCE AND RESPONSIBLE BUSINESS CULTURE

        GOVERNANCE: STRENGTHENING GOOD CORPORATE GOVERNANCE AND RESPONSIBLE BUSINESS CULTURE

        All content and data in this page has been verified & assured by external assessor, SIRIM QAS International Sdn Bhd

        FY2021 GOVERNANCE HIGHLIGHTS

        Adoption of Independent Directors’ Tenure Policy:
        Limiting the tenure of Independent Directors to 9 years without any further extension

        Quarterly engagements between independent directors and worker representatives

        Board evaluation conducted by independent external party

        Diverse gender and skills across Board of Directors, with 42% of female directors

        40% of KPI linked to ESG metrics

        Next:

        ENVIRONMENTAL: TRANSITIONING INTO A NET ZERO CARBON BUSINESS

        23RD VIRTUAL ANNUAL GENERAL MEETING

        Add to Calendar
        Day and Date

        Thursday, 6 January 2022

        Time

        10:30 a.m.

        Online Meeting Platform

        Securities Services ePortal
        https://sshsb.net.my/

        Broadcast Venue

        TG Grand Ballroom
        Level 9, Top Glove Tower, 16, Persiaran Setia Dagang, Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan, Malaysia

        (Members/Proxies/Corporate Representatives will not be allowed to be physically present at the Broadcast Venue)

        Modes of Communication
        1. Typed text in the Online Meeting Platform
        2. Email your questions to
          [email protected]
          prior to the 23rd AGM