Petronas doubles dividend payout to RM50b as 2Q profit jumps 140% to RM23b
KUALA LUMPUR (Aug 30): Petroliam Nasional Bhd (Petronas) saw its profit after tax (PAT) for the second quarter ended June 30, 2022 (2QFY22) jump 140% to RM23 billion, from RM9.6 billion for the same quarter last year, in tandem with higher revenue partially offset by increases in product costs and taxation.
Quarterly revenue climbed 63.4% to RM93.3 billion, from RM57.1 billion for 2QFY21, predominantly due to the favourable price impact on all products and a positive exchange rate.
The company also declared dividends of RM50 billion, double the RM25 billion payout last year.
The strong performance was mainly attributed to elevated oil and gas prices arising from a widening supply gap and dwindling system capacity, said Petronas in a statement on Tuesday (Aug 30).
Earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter under review almost doubled to RM43.1 billion, from RM23.2 billion for 2QFY21.
For the first six months ended June 30, 2022 (1HFY22), PAT jumped 146.8% to RM46.4 billion from RM18.8 billion, in line with higher revenue, following an upward trend in prices partially offset by higher product costs.
Six-month revenue was higher at RM172.1 billion, against RM109.6 billion a year earlier, mainly due to the favourable price impact on major products aligned with higher benchmark prices.
Cumulative Ebitda for 1HFY22 improved to RM82.7 billion from RM46 billion, mainly attributable to higher revenue. However, this was partially offset by an increase in product costs and other operating expenses.
Cash flows from operating activities stood at RM62.4 billion, compared with RM32.7 billion previously, in line with higher cash from operations.
Total assets strengthened to RM699.5 billion as of June 30, 2022, compared with RM635 billion as of Dec 31, 2021, mainly due to higher cash and fund investments and receivables.
Shareholders’ equity increased to RM375.6 billion as of June 30, compared with RM350.8 billion as of Dec 31, mainly attributable to profit recorded during the period.
Capital expenditure (capex) amounted to RM18.9 billion, mainly contributed by upstream projects. Overall capex spent during the quarter was reflective of the volume of activities returning to pre-pandemic levels, noted Petronas.
Meanwhile, the prolonged geopolitical tensions, energy supply-demand imbalances and the risk of a global slowdown continue to threaten post-pandemic economic recovery. Petronas said it remains steadfast in strengthening its core portfolio, while pursuing its growth strategy and sustainability agenda at pace, and resilience.
http://www.theedgemarkets.com/article/petronas-doubles-dividend-payout-rm50b-2q-profit-jumps-140-rm23b
Singapore Investment
-
-
-
-
-
-
Hidden Traps (and Benefits) of Instalment Plans14 hours ago
-
Best Areas in Phnom Penh to Buy Property14 hours ago
-
-
Grab expands menu with Chope acquisition14 hours ago
-
-
-
HDB vs Private Property: Pros & Cons17 hours ago
-
Orchids of Angkor Wat17 hours ago
-
-
-
-
-
Few Reflections23 hours ago
-
Die With Zero (Bill Perkins)1 day ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Weekly Market Outlook5 days ago
-
-
-
Top 5 Dividend Stocks on SGX5 days ago
-
Be anti-fragile5 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
随心笔:忧郁1 week ago
-
-
-
Quick Updates (July and August)1 week ago
-
Finance Investment Movement 471 week ago
-
-
-
-
-
SG GEMS 2024 by AlphaInvest2 weeks ago
-
-
Lentor Hills Residences2 weeks ago
-
MIT vs MLT. Which To Choose?2 weeks ago
-
-
-
-
Monthly IBKR Update – June 20242 weeks ago
-
-
-
At the Half Year Mark3 weeks ago
-
-
-
-
-
-
Portfolio Summary for June 20243 weeks ago
-
-
-
-
-
Jun 2024 Portfolio3 weeks ago
-
Gone Fishing3 weeks ago
-
2Q 2024 Investment Strategy Update3 weeks ago
-
A Giant Sucking Sound…4 weeks ago
-
-
Portfolio (June 30, 2024)4 weeks ago
-
-
Oh My Spins Casino Login App4 weeks ago
-
-
-
-
-
-
-
-
Free money again! Don't say #bojio.1 month ago
-
-
-
-
-
-
-
Breakthroughs in portfolio :)2 months ago
-
Bond Coupons vs Rental Income2 months ago
-
-
-
Resilience and Adaptability = Confidence2 months ago
-
-
-
China’s going downhill?2 months ago
-
-
iFAST 1Q24: Firing on all cylinders2 months ago
-
-
2024 (Portfolio Update)3 months ago
-
-
Feb 2024 Expenditure4 months ago
-
New Bitcoin All Time High Before Halving4 months ago
-
-
-
The Market Is A Scam!4 months ago
-
-
-
-
Options Trading Journal Jan 20245 months ago
-
-
-
-
-
Year 2023 DIYQuant Portfolio Performance Report6 months ago
-
Monthly Summary of November 20237 months ago
-
Migration of website8 months ago
-
-
-
-
-
-
-
-
-
-
-
-
A New Light1 year ago
-
-
-
-
-
-
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment2 years ago
-
Terra Hill Condo (former Flynn Park)2 years ago
-
Alibaba VS Tencent: The Battle Royale2 years ago
-
-
-
-
-
-
-
-
-