Yahoo Finance

• Revenue: MYR6.5 billion, a 1.4% increase driven by higher gas processing revenue.

• Gross Profit: MYR2.3 billion, a marginal decline of 0.4% due to rising operating costs.

• Profit Before Tax (PBT): Decreased by 1.1% or MYR25.7 million, impacted by lower joint venture profits.

• Profit for the Year: Increased by 1.2% or MYR22.6 million, aided by lower tax expenses.

• EBITDA: Increased by 2.7% or MYR87.6 million.

• Earnings Per Share (EPS): Increased by 0.9%.

• Dividend Per Share: $0.22 per ordinary share, unchanged from the previous year.

• Total Assets: MYR18.8 billion, a decrease of 2.9% due to repayment of Islamic financing.

• Total Liabilities: Decreased by 18% following the repayment of Islamic financing.

• Cash and Cash Equivalents: MYR2.6 billion, reflecting a healthy cash balance.

• Gas Processing Segment Gross Profit: Increased by 6.5% year-over-year, driven by higher reservation charges.

• Gas Transportation Segment Result: Grew by 5.4% year-over-year, due to higher tariff revenue.

• Regasification Segment Result: Decreased by 5.9% year-over-year, due to higher maintenance and depreciation costs.

• Utilities Segment Result: Declined by 2.4% year-over-year, impacted by lower revenue and higher maintenance expenses.

• Warning! GuruFocus has detected 6 Warning Signs with PNAGF.

Release Date: February 21, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Petronas Gas Bhd (PNAGF) reported a slight increase in group revenue by 1.4% to MYR6.5 billion, driven by higher revenue from gas processing due to new reservation charges.

• Profit for the year rose by 1.2% due to lower tax expenses following a one-off recognition of investment tax allowance for 2024.

• The company successfully secured full 12 months of incentives under the third-term Gas Processing Agreement (GPA), showcasing operational excellence.

• Petronas Gas Bhd (PNAGF) made significant progress in infrastructure projects, including a 100-megawatt power plant in Kimanis, expected to start operations by March 2026.

• The company received high recognition for sustainability efforts, achieving a score of 4.7 from Bursa Malaysia, reflecting improved environmental and social disclosures.

Negative Points

• Gross profit declined marginally by 0.4% due to rising operating costs, higher maintenance activities, and increased depreciation expenses.

• Profit before tax decreased by 1.1% primarily due to lower share of profit from joint venture companies.

• The regasification segment saw a 5.9% decline in full-year results due to higher maintenance activities and depreciation costs.

• Utilities segment gross profit decreased by 45% in Q4 2024 compared to Q3 2024, due to lower revenue from electricity, steam, and industrial gases.

• The company's total assets decreased by 2.9% due to a bullet repayment of MYR1.2 billion for an Islamic financing facility, impacting cash reserves.