Petronas Q3 Report 2022
The Group’s strong performance was driven by its focus to safely deliver commercial and operational excellence across the integrated value chain, supported by high commodity prices.
The Group will continue to exercise discipline in investing responsibly towards executing the PETRONAS three-pronged growth strategy and Net Zero Carbon Emission by 2050 (NZCE 2050) targets.
- For the first nine months of 2022, the Group recorded an improved revenue of RM271.3 billion, compared to RM171.4 billion in the corresponding period last year, mainly due to favourable price impact for major products aligned with higher benchmark prices.
- Profit after Tax (PAT) improved to RM77.2 billion and Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at RM130.2 billion.
- Cash Flows from Operating Activities (CFFO) increased to RM83.1 billion.
- Total assets strengthened to RM725.6 billion as at 30 September 2022, compared to RM635.0 billion as at 31 December 2021.
For the third quarter ended 30 September 2022, the Group recorded higher revenue of RM99.2 billion, compared to RM61.8 billion in the same quarter last year predominantly due to favourable price impact for major products and favourable impact of exchange rate.
PAT increased to RM30.8 billion and EBITDA stood at RM47.5 billion.
CFFO stood at RM20.7 billion, compared to RM21.8 billion in the same quarter last year following higher net receivables in line with higher prices.
