VCI Global Ltd. Q2 FY2024 earnings call

• Victor Hoo highlighted strong momentum and robust business performance despite a challenging macroeconomic environment, noting progress in the Business Strategy Consulting segment and significant strides in AI innovation with acquisitions like the exclusive distributorship from Wootzano and acquisition of an AI-based secure messaging platform from Cogia GmbH. • He also mentioned the completion of the secondary listing on the Frankfurt Stock Exchange and the authorization of a share buyback program of up to $10 million over the next two years. • Ang Zhi Feng detailed the financial growth, including the revenue and net income increases, and broke down the segment performance. • Marco Baccanello thanked investors, employees, and stakeholders and emphasized the focus on driving sustainable growth and enhancing long-term shareholder value.

In the first half of 2024, VCI Global achieved a 44% increase in revenue, totaling $13.7 million, and a 25% increase in net income to $5.4 million. The Business Strategy Consultancy segment saw revenue surge by 151% from $4.5 million in the first half of 2023 to $11.2 million in the first half of 2024. The Fintech segment had revenue increase by 183% from $0.2 million to $0.7 million during the same period. Additionally, EBITDA increased by 26% to $5.7 million.

• VCIG is poised for continued growth leveraging its market position, diverse services, and talented team. • The secondary listing on the Frankfurt Stock Exchange and the share buyback program reflect confidence in future potential and commitment to delivering sustained value to shareholders.