The adjusted Ebitda improved after taking into account net unrealised foreign exchange translation gains.

The adjusted Ebitda rose to RM1.31 billion in Q3 2024 against RM747.6 million previously, the company said in a filing to Bursa Malaysia today.

“The group reported higher adjusted Ebitda of RM2.74 billion year-to-date (YTD) September 2024 as compared with RM1.79 billion in the same period in 2023, an increase of 53%.

“(This) was mainly due to flow-through of the increase in revenue offset by the higher operating expenses including payroll related expenses across all business segments,” it said.

Genting’s revenue increased to RM2.75 billion in Q3 2024 from RM2.71 billion previously mainly due to higher revenue from the leisure and hospitality businesses in the UK and Egypt.

Revenue from the leisure and hospitality business in Malaysia increased by 9% year-on-year (y-o-y) mainly due to a higher volume of business.

Overseas, revenue from the leisure and hospitality businesses in the UK and Egypt rose 17% to RM1.45 billion also due to higher volume of business.

Going forward, Genting said the group is cautiously optimistic about the near-term prospects of the leisure and hospitality industry and remains positive in the longer term.