PETRONAS Dagangan (PETDAG) Q2 2025 earnings summary

Executive summary

• Profit before tax for H1 2025 increased 8% to RM783.0 million, supported by operational excellence and lower operating expenditure, despite challenging market conditions and a 6% revenue decline.

• Q2 2025 pre-tax profit declined 6% year-over-year, cushioned by lower operating expenditure.

• Revenue for H1 2025 rose 6% to RM19,231.1 million compared to H1 2024, while Q2 2025 revenue was RM9,065.5 million, down 8% year-over-year and marginally lower sequentially.

• Commercial segment showed strong performance with higher Jet A1 and Diesel sales, offsetting weaker Retail segment results.

Financial highlights

• Q2 2025 gross profit was RM1,100.1 million, up 3% from Q1 2025 but down 7% year-over-year.

• Q2 2025 profit before tax was RM373.8 million, down 6% year-over-year and 9% sequentially.

• Net profit for the period was RM573.98 million, up from RM516.22 million a year ago.

• Basic earnings per share for the cumulative period rose to 56.2 sen from 50.6 sen year-over-year.

• Dividend of 22 sen per share declared for Q2 2025, 2 sen higher than Q2 2024.

Outlook and guidance

• Brent crude oil price averaged USD67.88/bbl in Q2 2025, down 10.4% from Q1 2025; oil prices expected to trend downward in FY2025 due to oversupply.

• Domestic economic growth remains resilient, supported by private consumption, wage growth, and tourism momentum.

• Infrastructure projects and digital investments are expected to drive new demand opportunities.

• The group remains vigilant amid global uncertainties, focusing on cost management and proactive strategies.