Q2 2025 Hibiscus Petroleum Bhd Earnings Call Transcript
Key Points
- Hibiscus Petroleum Bhd (XKLS:5199) reported a significant increase in total sales, up by over 50% to 2.6 million barrels of oil equivalent, following the acquisition of a Brunei asset.
- Revenue increased by 37% from MYR477 million to MYR650 million, driven by higher volumes of crude oil and gas.
- EBITDA rose by 130% from MYR150 million to MYR240 million, indicating strong operational performance.
- The company achieved a high gross profit margin of 75% in Brunei, even without condensate sales.
- Hibiscus Petroleum Bhd declared a dividend increase, with a guidance of MYR0.08 to MYR0.10 for the financial year 2025, reflecting a dividend yield of 5% to 6% per annum.
- The Brunei asset did not contribute any sales during the quarter, impacting overall revenue.
- The company faced a one-off charge due to changes in the UK Energy Profits Levy, resulting in a MYR7.3 million non-cash deferred tax liability.
- Shareholders' funds decreased by MYR147 million due to fluctuations in the US dollar compared to the Malaysian ringgit.
- The cash balance decreased significantly as MYR224 million was used to finance the Brunei asset acquisition.
- The company wrote off MYR17.5 million related to an exploration well in Peninsula Hibiscus, impacting EBITDA.
Hi, good evening, everyone, and thank you for joining our quarter two financial year 2025 Hibiscus Petroleumâs results briefing. I'm Lily Ling, VP of Corporate Development, and I'm here with Dr. Kenneth Pereira, our Managing Director; (technical difficulty) of Corporate Finance; CY, our CFO; Dr. Pascal Hos, our Country Head, Malaysia and Vietnam; and Mohammed Farroukh, our Country Head of Brunei, as our recently acquired Brunei asset contributes for the first time this quarter; and from my team, Andrew Fernandes, [Adela Elias, and Nur Jahan].
Our results were released earlier today, and you can access on our website two things, the corporate and business update CBU for a deep dive into our financial and operational performance this briefing slides, which are also shared in this Teams chat.
Let's get straight to it. Over to you CY to start the presentation because hey, who doesn't like numbers, right?
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