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    PETDAG   MYL5681OO001

PETRONAS DAGANGAN

(PETDAG)
  Report
End-of-day quote BURSA MALAYSIA  -  2022-12-06
22.34 MYR   -2.19%
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PETRONAS Dagangan : Quarterly Financial Report (Q2 FY2022)

08/24/2022 EST

For Second Quarter Ended 30 June 2022

Open

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2022

Tthe Company ) is pleased to announce the following Unaudited Condensed Consolidated Financial Statements for PDB Group for the second quarter ended 30 June 2022 which should be read in conjunction with the accompanying explanatory notes on pages 6 to 19.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

Individual quarter ended

Cumulative quarter ended

30 June

30 June

In RM'000

Note

2022

2021

2022

2021

Revenue

B2

9,501,101

5,182,469

17,119,424

10,324,847

Operating profit

317,040

92,373

497,758

380,188

Finance cost

(4,402)

(2,442)

(7,188)

(5,102)

Share of profit after tax of equity

accounted associates and joint

ventures

2,856

34

3,638

335

Profit before taxation

B2

315,494

89,965

494,208

375,421

Taxation

B5

(76,080)

(7,600)

(134,444)

(101,892)

PROFIT FOR THE PERIOD

B14

239,414

82,365

359,764

273,529

Other comprehensive income

Items that may be reclassified subsequently to profit or loss

Exchange differences arising from translation of financial statements of foreign operations

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

20

(320)

27

1,562

239,434

82,045

359,791

275,091

Profit attributable to:

Shareholders of the Company

237,679

82,141

356,173

273,254

Non-controlling interests

1,735

224

3,591

275

PROFIT FOR THE PERIOD

239,414

82,365

359,764

273,529

Total comprehensive income

attributable to:

Shareholders of the Company

237,699

81,821

356,200

274,816

Non-controlling interests

1,735

224

3,591

275

TOTAL COMPREHENSIVE INCOME FOR

THE PERIOD

239,434

82,045

359,791

275,091

Earnings per ordinary share

B12

23.9

8.3

35.9

27.5

- basic (sen)

The Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying explanatory notes attached to these Condensed Consolidated Financial Statements.

1

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2022

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at

As at

30 June

31 December

In RM'000

Note

2022

2021

ASSETS

Property, plant and equipment

4,008,671

4,017,549

Intangible asset

677

806

Investments in associates

2,194

2,008

Investments in joint ventures

A16

76,227

20,327

TOTAL NON-CURRENT ASSETS

4,087,769

4,040,690

Trade and other inventories

199,383

158,866

Trade and other receivables

10,309,999

3,490,185

Cash and cash equivalents

2,654,603

1,911,062

TOTAL CURRENT ASSETS

13,163,985

5,560,113

TOTAL ASSETS

B2

17,251,754

9,600,803

EQUITY

Share capital

993,454

993,454

Reserves

4,636,848

4,588,619

Total Equity Attributable to Shareholders

5,630,302

5,582,073

of the Company

Non-controlling interests

36,969

33,378

TOTAL EQUITY

B2

5,667,271

5,615,451

LIABILITIES

Borrowings

B7

142,072

92,166

Deferred tax liabilities

107,176

102,723

Other long term liabilities and provisions

31,272

31,272

TOTAL NON-CURRENT LIABILITIES

280,520

226,161

Trade and other payables

10,440,439

3,645,060

Borrowings

B7

733,586

24,266

Taxation

129,938

89,865

TOTAL CURRENT LIABILITIES

11,303,963

3,759,191

TOTAL LIABILITIES

B2

11,584,483

3,985,352

TOTAL EQUITY AND LIABILITIES

17,251,754

9,600,803

Net assets per share attributable to ordinary

equity holders of the Parent (RM)

5.67

5.62

The Unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the

accompanying explanatory notes attached to the Condensed Consolidated Financial Statements.

2

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2022

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Attributable to Shareholders of the Company

Non-DistributableDistributable

Foreign

Currency

Non-

Share

Translation

Capital

Retained

controlling

Total

Capital

Reserves

Reserves

Profits

Total

Interests

Equity

At 1 January 2022

993,454

(6,510)

(305)

4,595,434

5,582,073

33,378

5,615,451

Exchange difference

arising from

translation of

financial statements

of foreign operation

-

27

-

-

27

-

27

Total other

comprehensive

income for the

period

-

27

-

-

27

-

27

Profit for the period

-

-

-

356,173

356,173

3,591

359,764

Total comprehensive

income for the period

-

27

-

356,173

356,200

3,591

359,791

Dividends paid

-

-

-

(307,971)

(307,971)

-

(307,971)

At 30 June 2022

993,454

(6,483)

(305)

4,643,636

5,630,302

36,969

5,667,271

At 1 January 2021

993,454

(21,091)

(18,732)

4,690,114

5,643,745

31,901

5,675,646

Exchange difference

arising from

translation of

financial statements

of foreign operations

-

1,562

-

-

1,562

-

1,562

Total other

comprehensive

income for the

period

-

1,562

-

-

1,562

-

1,562

Profit for the period

-

-

-

273,254

273,254

275

273,529

Total comprehensive

income for the period

-

1,562

-

273,254

274,816

275

275,091

Dividends paid

-

-

-

(307,971)

(307,971)

-

(307,971)

At 30 June 2021

993,454

(19,529)

(18,732)

4,655,397

5,610,590

32,176

5,642,766

The Unaudited Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the

accompanying explanatory notes attached to these Condensed Consolidated Financial Statements.

3

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2022

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Cumulative quarter ended

30 June

In RM'000

Note

2022

2021

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation

494,208

375,421

Adjustments for:

Depreciation and amortisation

211,353

230,959

Net impairment losses/(write-back) on receivables

12,690

(1,407)

Share of profit after tax of equity accounted associates

and joint ventures

(3,638)

(335)

Net gain on disposal of property, plant and equipment

(1,299)

(2,107)

Gain on disposal of LPG business

(87,937)

-

Inventories written-back to net realisable value ("NRV")

-

(4,088)

Net inventories written-back

-

(110)

Property, plant and equipment expensed off

1,701

916

Interest income

(25,434)

(27,064)

Finance cost

7,188

5,102

Other non-cash items

(729)

(562)

Operating profit before changes in working capital

608,103

576,725

Inventories

(40,516)

51,795

Trade and other receivables

(6,830,546)

(139,005)

Trade and other payables

6,792,423

76,405

Cash generated from operations

529,464

565,920

Taxation paid

(91,147)

(55,299)

Net cash generated from operating activities

B2

438,317

510,621

CASH FLOWS FROM INVESTING ACTIVITIES

Interest income

25,434

27,064

Net placement of fund investment

-

(70,737)

Purchase of property, plant and equipment

(108,824)

(206,674)

Investment in joint venture

(2,410)

-

Proceeds from disposal of LPG business

40,000

-

Proceeds from disposal of property, plant and equipment

949

7,550

Net cash used in investing activities

B2

(44,851)

(242,797)

CASH FLOWS FROM FINANCING ACTIVITIES

Dividends paid

(307,971)

(307,971)

Net drawdown of revolving credits

B7

684,000

6,500

Repayment of Islamic financing facilities

B7

-

(9,176)

Repayment of lease liabilities

B7

(18,815)

(37,163)

Interest paid on revolving credits

B7

(1,889)

(192)

Profit margin paid for Islamic financing facilities

B7

-

(89)

Interest paid on lease liabilities

B7

(5,299)

(4,821)

Net cash generated from/(used in) financing activities

B2

350,026

(352,912)

4

Disclaimer

Petronas Dagangan Bhd published this content on 24 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 10:49:09 UTC.


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Sales 2022 34 071 M 7 748 M 7 748 M
Net income 2022 770 M 175 M 175 M
Net cash 2022 2 549 M 580 M 580 M
P/E ratio 2022 29,2x
Yield 2022 3,19%
Capitalization 22 194 M 5 047 M 5 047 M
EV / Sales 2022 0,58x
EV / Sales 2023 0,57x
Nbr of Employees 1 416
Free-Float 13,3%
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Technical analysis trends PETRONAS DAGANGAN
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 22,34 MYR
Average target price 21,75 MYR
Spread / Average Target -2,64%
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Azrul bin Osman Rani Chief Executive Officer, Director & MD
Farzlina Ahmad Murad Chief Financial Officer
Anuar bin Ahmad Non-Independent Non-Executive Chairman
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