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
-
-
-
-
-
How to we keep the dead alive?2 hours ago
-
-
-
-
-
-
-
-
-
The History of CapitaLand10 hours ago
-
-
CapitaLand Integrated Commercial Trust11 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
CICT 1Q2024 Business Updates2 days ago
-
-
-
-
-
-
Keyboarding Warriors4 days ago
-
-
-
-
Cory Diary : Portfolio updates5 days ago
-
-
-
Weekly Markets Outlook5 days ago
-
-
-
Portfolio Update6 days ago
-
-
-
-
-
-
-
-
Buying a home for face1 week ago
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
Market indeed coming down1 week ago
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
Revisiting Bitcoin2 weeks ago
-
-
-
-
2024 (Portfolio Update)3 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)4 weeks ago
-
-
-
QAF #77 - 2023 Annual Report4 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website5 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 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 Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-