KUALA LUMPUR, Nov 30 (Bernama) — PETRONAS has recorded a lower financial performance for the nine months ended 30 September 2023 due to declining energy prices, partially offset by higher sales volume for major products.
YTD Q3 FY2023 (Analysis against YTD Q3 FY2022)
• Revenue for the first nine months of the year stood at RM251.9 billion, a decrease of RM17.5 billion as compared to the same period in 2022. This is mainly due to lower average realised prices for all products in line with the declining benchmark prices, partially offset by improved sales volumes for major products as well as favourable foreign exchange impact.
• PAT decreased by RM13.1 billion and Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined to RM103.9 billion.
• Cash Flows from Operating Activities (CFFO) stood at RM76.0 billion.
• Capital Investments (CAPEX) amounted to RM34.3 billion, mainly attributed to Upstream and Gas projects. Domestic CAPEX increased by 37 per cent against the same period last year mainly for investments in the PETRONAS Nearshore Floating LNG Project in Sabah and the Kasawari Gas Field Development and CO2 Sequestration Facilities in Sarawak.
• Total Assets increased to RM752.2 billion as at 30 September 2023 compared to RM710.6 billion as at 31 December 2022
• Shareholders’ equity increased to RM432.4 billion as at 30 September 2023 from RM401.6 billion as at 31 December 2022, primarily due to profit attributable to shareholders recorded and favourable impact from foreign exchange during the period, partially offset by dividend declared to the Government.