Malaysia · Delayed Price · Currency is MYR PETRONAS Gas Berhad Earnings Call Transcripts
Fiscal Year 2025
-
FY2025 saw resilient performance amid inflation and a major pipeline incident, with revenue down 2.5% and profit down 4.5% year-over-year. New RP3 tariffs and internal reorganization are set to support future growth, while CapEx and dividends remain robust.
-
Revenue and profit declined year-over-year due to lower tariffs, product prices, and incident costs, but operational reliability remained high. One-off settlement income and new LNG storage services provided some offset, while maintenance and regulatory risks persist.
-
Revenue and gross profit declined year-over-year due to lower utilities and gas transportation performance, with one-off costs from the Putra Heights fire incident. Strategic growth projects and a strong dividend payout continue, while risks from regulatory changes and market volatility are closely managed.
-
Q1 2025 saw a 1.5% revenue decline year-over-year due to lower gas transportation and regasification tariffs, but profit rose 4.2% on higher JV contributions. The Putra Heights incident led to a MYR 170 million cost, with over MYR 100 million to be capitalized and insurance recovery expected.
Fiscal Year 2024
-
Revenue grew 1.4% to MYR 6.5 billion in 2024, with profit for the year up 1.2% due to lower tax from a one-off ITA. Segment results were mixed, and significant CapEx was directed toward growth and rejuvenation projects. Dividend per share was maintained at MYR 0.22.
-
Q3 2024 saw revenue rise 1.2% year-over-year to RM 4.923 billion, with profit up 4.8% and EBITDA up 5.1%. Strong operational reliability, project progress, and dividend payout were maintained, while higher costs and forex volatility remain key risks. Growth projects and rising gas demand offer significant future opportunities.
-
Operational excellence and near 100% reliability drove stable results in Q2 2024, with revenue at MYR 3.3 billion for the first half and profit up 2% year-over-year. Dividend per share was maintained, and growth projects are progressing on schedule.