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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  PETRONAS Chemicals Group    PCHEM   MYL5183OO008

PETRONAS CHEMICALS GROUP

(PCHEM)
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Petronas Chemicals 1Q Profit Fell 36% as Covid-19 Lowered Product Prices

05/20/2020 | 02:03am EST

By Chester Tay

Petronas Chemicals Group Bhd.'s first-quarter net profit dropped 36% compared with the same period a year earlier as product prices declined due to softer demand amid the Covid-19 pandemic.

Net profit was 506.0 million ringgit ($116.4 million), on the back of a 5.8% fall in revenue to MYR3.89 billion, the company said in a stock exchange filing Wednesday.

Moving forward, Petronas Chemicals said its olefins and derivatives businesses are expected to see product prices recover marginally toward the end of the year if the Covid-19 pandemic eases and there is an improvement in oil prices.

Management expects the group's fertilizers and methanol businesses to see stable prices into the year's end as fertilizer demand is less affected by the virus.

Petronas Chemicals said methanol demand is projected to improve gradually with the recovery in crude oil prices and an improvement in downstream derivatives demand.

 

Write to Chester Tay at chester.tay@wsj.com

 

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JUST GROUP PLC -0.17% 57.9015 Delayed Quote.-26.58%
LONDON BRENT OIL -2.17% 47.77 Delayed Quote.-30.61%
PETRONAS CHEMICALS GROUP 0.15% 6.81 End-of-day quote.-7.35%
THE NEW HOME COMPANY INC. 1.96% 5.73 Delayed Quote.22.96%
WILL GROUP, INC. 1.02% 990 End-of-day quote.-20.93%
WTI -1.86% 44.885 Delayed Quote.-29.68%
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Financials
Sales 2020 14 449 M 3 547 M 3 547 M
Net income 2020 1 595 M 392 M 392 M
Net cash 2020 10 767 M 2 643 M 2 643 M
P/E ratio 2020 32,9x
Yield 2020 1,59%
Capitalization 54 480 M 13 328 M 13 376 M
EV / Sales 2020 3,03x
EV / Sales 2021 2,39x
Nbr of Employees 4 500
Free-Float 18,6%
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Technical analysis trends PETRONAS CHEMICALS GROUP
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 22
Average target price 6,19 MYR
Last Close Price 6,81 MYR
Spread / Highest target 18,9%
Spread / Average Target -9,11%
Spread / Lowest Target -41,3%
EPS Revisions
Managers
NameTitle
Sazali bin Hamzah CEO, MD & Non-Independent Executive Director
Mohamad Arif bin Mahmood Chairman
Rashidah binti Alias Chief Financial Officer
Ch'ng Guan How Chief Innovation & Technology Officer
Ah Wah Toh Senior Independent Director
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