KUALA LUMPUR, 25 Feb 2025 – For the financial year ended 31 December 2024, PETRONAS recorded lower revenue due to lower average realised prices.
FC FY2024 (Analysis against FY2023)
Revenue stood at RM320.0 billion, a decrease of 7 per cent from the previous year, due to lower average realised prices, negated by higher sales volume. In addition, the 2024 revenue only included five months of Engen Group’s financial results until its divestment in May 2024.
Profit After Tax (PAT) decreased by 32 per cent to RM55.1 billion in line with the lower average realised prices and favourable tax adjustments in 2023.
The unfavourable realisation of foreign currency translation reserve, upon divestment of the Engen Group, also impacted PAT.
The Group recorded a lower EBITDA of RM114.1 billion, in line with lower profits.
Cash Flows from Operating Activities (CFFO) stood at RM102.5 billion, primarily driven by EBITDA.
Capital investments (CAPEX) stood at RM54.2 billion, mainly attributable to activities in Malaysia.
Total assets stood at RM766.7 billion.
Shareholders’ equity increased to RM451.2 billion, mainly attributable to profit recorded during the year.
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