PETRONAS Gas Berhad (6033) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of FY2025 was RM4,803.1 million, down 2.4% year-over-year, mainly due to lower Utilities product prices and reduced gas transportation tariffs.

• Profit for the period was RM1,439.3 million, a 4.3% decrease, cushioned by a one-off settlement income from a customer dispute.

• Gross profit declined by 6.1% (RM109 million), primarily from lower margins in gas transportation and utilities, and costs related to gas supply restoration after the Putra Heights fire.

• Maintained sustainable dividend payouts and healthy cash reserves to support operations and growth.

• Operational reliability remained high across all segments, with nearly 100% product delivery and swift recovery after incidents.

Financial highlights

• EBITDA decreased by 1.7% (RM43.8 million) year-over-year.

• Earnings per share for 9M 2025 was 68.89 sen, down 4.0% year-over-year.

• Third interim dividend of 18 sen per share (RM356.2 million) approved for FY2025.

• Total assets rose 5% to RM19.7 billion, driven by higher CapEx and new LNG storage assets.

• Net cash generated from operating activities rose 13.9% to RM2,433.2 million.

Outlook and guidance

• Focus remains on operational efficiency, cost optimization, and disciplined project delivery.

• Infrastructure expansion planned to meet rising national demand, including regasification terminal upgrades and modernization of gas processing and pipelines.

• Diversification efforts underway to broaden revenue streams and deliver sustainable returns.

• Maintenance activities are expected to intensify in the next quarter as part of reliability and safety assurance programs.

• Ongoing regulatory discussions for RP3 and new electricity tariff structure, with new regime expected to start January next year.