PETALING JAYA: Petronas Gas Bhd
(PetGas) is counting on sustaining a resilient performance in 2026 while remaining attentive to challenges arising from what it deems as an increasingly dynamic operating environment.
It said the newly approved tariff revisions under Regulatory Period 3 for Gas Transportation and Regasification business segments are expected to continue contributing positively to the Group's earnings.
Releasing its results for the fourth quarter (4Q25) and financial year (FY25) ended December yesterday, PetGas saw net profit decline by 12.7% year-on-year (y-o-y) for 4Q25 to RM363.9mil, as revenue also eased 2.8% to RM1.57bil.
PetGas reported that its lower 4Q25 y-o-y profitability was primarily driven by reduced revenue following a downward tariff adjustment for its Gas Transportation segment, coupled with increased operating costs mainly from higher level of maintenance activities, as well as higher depreciation expense in line with increased capital expenditure.
Similarly, for the whole of FY25, the group also posted a decrease in net profit by 5.9% y-o-y to RM1.73bil, as turnover also edged down 2.5% to RM6.37bil.
In its bourse filing, the group attributed the lower topline was primarily to its Utilities segment, and its Gas Transportation segment following a downward tariff adjustment arising from a sharing factor for the prior year’s lower internal gas consumption (IGC).
Aside from a reduced revenue following a downward tariff adjustment, PetGas also cited costs incurred for gas supply restoration works arising from the Putra Heights pipeline fire incident, as well as higher level of maintenance activities for the softer cumulative bottom line.
“Performance was further affected by tighter margins in the Utilities segment, in line with lower product prices,” it said.
Seen against the preceding three months ended September, net profit for 4Q25 was also 18.1% lower from RM444.2mil, as revenue also retreated 2.9% from RM1.62bil, as PetGas pointed to lower income from its Utilities division, coupled with higher operating costs arising mainly from higher level of maintenance activities and higher depreciation expenses in line with increased capital expenditure.
Notably, the group kept its dividend policy intact by proposing a dividend of 22 sen per share for 4Q25, bringing total dividends declared for FY25 to 72 sen per share.
PetGas said it remains committed to ensuring safe, reliable and efficient operations, underpinned by prudent cost discipline and operational excellence, as well as sustainable growth opportunities that deliver value for all stakeholders.
