Malaysia · Delayed Price · Currency is MYR PETRONAS Gas Berhad Earnings Call Transcripts
Fiscal Year 2025
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FY2025 saw resilient performance amid cost pressures 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 stable earnings and operational focus in 2026.
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Revenue and profit declined year-over-year due to lower tariffs, product prices, and costs from the Putra Heights incident, though operational reliability remained high. New LNG storage is expected to boost future earnings, while regulatory and market risks persist.
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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.
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Q1 2025 delivered stable results with revenue up 1.5% and profit up 4.2% year-over-year, despite a MYR 170 million pipeline incident, of which MYR 60 million will impact profit. Segment performance was mixed, and new power and LNG projects are progressing.
Fiscal Year 2024
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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.
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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.
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Q2 2024 delivered stable operational performance and sustained dividends, with profit up 20% year-over-year despite a slight revenue dip. Growth projects are on track, and risk from forex and energy price volatility is being actively managed.