Petronas Dagangan : Registers Strong Growth in Q3 2022 as Economic Recovery Continues

Kuala Lumpur, 29 November 2022 - PETRONAS Dagangan Berhad (PDB) continues its strong financial performance as its pre-tax profit increased by more than 100 per cent to RM399.1 million for the quarter ended 30 September 2022 compared to the corresponding quarter last year.

Revenue for the quarter also rose by 93 per cent to RM10,130.7 million against the previous corresponding period, and by 75 per cent to RM27.3 billion for the cumulative nine-month period ended 30 September 2022, attributed to higher sales volume and higher average selling prices.

PDB's robust recovery is in tandem with the surge in economic activities following Malaysia's ongoing transition to the COVID-19 endemic phase and the re-opening of more economic and social sectors.

Correspondingly, PDB's Commercial segment saw stronger growth in gross profit during the quarter on the back of increased sales volume, driven by the surge in international travel and growth in the services industry, as the tourism sector continued to gain momentum. Meanwhile, both Retail and Convenience segments also registered higher gross profit contributed by the easing of COVID-19 restrictions during its endemic phase, compared to during the Movement Control Order (MCO) imposed in the corresponding quarter last year.

PDB launched its new venture, Café Mesra, in July 2022 to further complement its customers' diverse lifestyle. Café Mesra is now available at 16 locations and PDB aims to have up to 40 stores, both at PETRONAS stations and as standalone outlets, across Malaysia. Café Mesra is a testament to PDB's relentless commitment in enhancing customer experience and will further accelerate the company's progressive efforts in diversifying its non-fuel portfolio.

PDB is also ramping up its e-commerce digital solutions and offerings to further enhance customers' end-to-end retail experience to make their everyday lives simpler and better. These included:

• PETRONAS Shop introduced in August 2022 offering a wide range of genuine PETRONAS- branded products and merchandises.
• New features in Setel app namely, 'One-Tap Fuelling' and on-demand auto services to further enhance motorists' experience. Amongst others, Setel users are now able to renew road tax or purchase insurance including takaful, directly from the app, and be rewarded with Mesra points.

PDB continues to shape its sustainability pathway and strategically grow its offerings in cleaner energy solutions to support PETRONAS' net zero carbon emissions aspiration. To date, it has installed seven direct-current electric vehicle (EV) chargers and solar panels at eight PETRONAS stations as at Q3 2022 and is poised to explore new revenue streams in the electric mobility segment.

PDB Managing Director and Chief Executive Officer Azrul Osman Rani said, "PDB's stronger performance across all business segments is on course with the improved economic environment post COVID-19 pandemic. We will continue to strengthen our core business, progressing with the country's economic recovery while remaining cautious of external headwinds and global uncertainties, including the future risk of global recession."

"Moving forward, we will double down our efforts to grow our revenue streams from non-fuel product segments as we continue to shape our sustainability pathway. This is part of our aspirations to future-proof our business and deliver better value to our shareholders," Azrul added.

PDB has declared an interim dividend of 20 sen per ordinary share for the quarter ended 30 September 2022.