Q3 2024 Petronas Gas Bhd Earnings Call Transcript
Key Points
- Petronas Gas Bhd (XKLS:6033) reported a slight increase in group revenue by 1.2% to 4.9 billion Ringgit, primarily driven by higher revenue from the gas processing segment.
- The company achieved nearly 100% operational excellence across all business segments, demonstrating world-class performance.
- Profit for the period rose by 4.8%, attributed to a reduction in financing costs and favorable foreign exchange movements.
- The company maintained a strong dividend payout, with a dividend per share approved at 18 cents, reflecting its commitment to shareholder returns.
- Significant progress was made in growth projects, including the development of a 100 MW power plant in Sabah, expected to start operations by March 2026.
- The cost of doing business remained elevated, with the Service Producer Index (SPPI) increasing to 115.8 points, indicating high business costs.
- Higher operating expenses were reported due to increased maintenance activities and depreciation, impacting financial performance.
- The utilities segment faced lower revenue due to decreased product prices, despite higher customer offtake.
- The company's financial performance was impacted by the government's ICPT adjustment, affecting revenue and profit margins in the utility segment.
- There is an expectation of continued high maintenance costs and depreciation in the upcoming fourth quarter, which could further impact financial results.
Hello and good day, everyone. Welcome to Pana's gas' analyst briefing for quarter ended 30th September 2024.
Thank you for joining today's session organized via the Microsoft Teams platform. Before we start, can someone raise a hand or speak to the microphone is to test the system?
Okay, thanks Hadi Daniel.
My name is Suri head of Investor relations, Peter Gas. And as usual, I have together with me in Abdul, Ais Osman, managing director and CEO of Paas Akai, Chief Financial Officer, as well as in one Kaiza one Kasim, head of Business Development and commercial, the Petronas Gas Perhe analyst briefing for quarter ended 30th September 2024 is divided into four segments. In the first segment. In this will present the key highlights for P for the third quarter.
Next, in the second segment, the business updates and financial performance will be shared by IAM.
This will then be followed by the third segment where I will share pgb's focus moving forward. And finally,
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