PETRONAS Dagangan (PETDAG) Q4 2025 earnings summary

Executive summary

• Achieved record profit in Q4 2025, driven by strong fuel demand, digital adoption, and robust commercial sector performance, especially in aviation and diesel.

• Declared interim and special dividends totaling 46 sen per share for Q4, with a full-year payout of 112 sen per share, representing a 100% payout ratio.

• FY2025 profit before tax was RM1,531.0 million, nearly unchanged from FY2024, with a 2% increase in sales volume.

• Q4 2025 revenue increased 18% year-over-year, but profit before tax remained flat due to higher expenditure and less favorable price movements.

Financial highlights

• FY2025 revenue reached RM38,269.3 million, up 1% year-over-year.

• Gross profit for FY2025 was RM4,413.5 million, down 2% year-over-year.

• Profit after tax for FY2025 was RM1,136.5 million, up 2% year-over-year.

• Net profit attributable to shareholders was RM1,099.2 million, up from RM1,086.6 million in FY2024.

• Cash and cash equivalents more than doubled to RM4,754.9 million as of December 2025.

Outlook and guidance

• Cautiously optimistic near-term outlook for 2026, with Brent oil prices expected to remain stable but may soften due to high inventories and increased supply.

• Malaysia's economy is expected to expand in 2026, supported by domestic demand, infrastructure investment, and tourism, despite global uncertainties and oil price pressures.

• Domestic demand expected to be supported by government stimulus, tourism, and elevated road mobility.

• Gradual transition to low-carbon mobility, with EV infrastructure expanding but ICE vehicles remaining dominant.

• The group aims to sustain growth and competitiveness through operational efficiency and strategic initiatives.