PETRONAS Gas Berhad (6033) Q2 2026 earnings summary

Executive summary

• Revenue for the cumulative quarter ended 30 June 2026 was RM3,086.0 million, down 3.1% year-over-year, mainly due to lower Utilities segment sales and reduced product prices, partially offset by higher Gas Transportation and Regasification revenue.

• Gross profit declined 2.8% to RM1,113.3 million, reflecting tighter Utilities margins and increased depreciation, cushioned by lower fuel gas costs.

• Profit before tax fell 2.8% to RM1,172.8 million, and net profit dropped 3.0% to RM942.0 million, mainly due to lower Utilities margins and higher depreciation.

• EBITDA rose 3.1% to RM1,747.4 million, indicating resilient operating performance despite lower profits.

• The Board approved a second interim dividend of 16 sen per share (RM316.6 million) for FY2026.

Financial highlights

• Revenue: RM3,086.0 million (-3.1% YoY); Gross profit: RM1,113.3 million (-2.8% YoY).

• Profit before tax: RM1,172.8 million (-2.8% YoY); Net profit: RM942.0 million (-3.0% YoY).

• EBITDA: RM1,747.4 million (+3.1% YoY); EPS: 45.08 sen (-2.9% YoY).

• Net cash from operating activities: RM1,505.4 million (+1.2% YoY).

• Total assets: RM19.9 billion (+0.3% from Dec 2025); Total equity: RM14.4 billion (+1.0%).

Outlook and guidance

• Healthy performance expected for 2026, supported by stable regulated and long-term contracted businesses.

• Margin pressures from higher fuel gas prices and operating costs anticipated; focus remains on cost management and asset optimisation.

• Ongoing internal reorganisation to streamline business structure.