Petronas Chemicals reports higher revenue and profit but flags challenging outlook for the year
A man walks past a logo of PETRONAS during the annual energy industry event Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates, November 3, 2025. REUTERS/Amr Alfiky
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KUALA LUMPUR, Aug 19 : Malaysia’s Petronas Chemicals Group Berhad on Wednesday reported higher revenue for the second quarter but anticipates that the operating environment for the rest of the year will remain challenging due to geopolitical uncertainties, evolving trade policies and supply-demand imbalances.
• The chemicals maker, a subsidiary of state-run energy firm Petronas, posted a net profit of 414 million ringgit ($101.95 million) in the quarter ended June, versus a net loss of 1.08 billion ringgit in the same quarter a year earlier.
• The company had reported a profit of 401 million ringgit in the three months to March.
• Revenue rose to 7.9 billion ringgit ($1.95 billion) from 6.44 billion a year earlier.
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• The company’s shares climbed 1.28 per cent to 4.73 ringgit by the midday break on Wednesday.
• The company attributed its earnings to robust demand and a widening spread between its product prices and feedstock costs, despite undertaking major planned maintenance activities that moderated production and sales volumes.
• “The second quarter was operationally challenging as we undertook major planned turnaround activities at several facilities in the Kertih Integrated Petrochemical Complex (KIPC) and the urea plant in Bintulu,” Chief Executive Mazuin Ismail said in a stock exchange filing.
• The company said it managed to capture market upside by prioritising domestic and regional customers, maximising spot sales opportunities, as well as by leveraging strategic sourcing and trading activities to strengthen earnings.
• The company added that it expects the olefins and derivatives segment to remain stable, with pricing primarily influenced by feedstock cost movements and producers operating rates amid continued regional oversupply and competitive market conditions.
• “The fertilisers market remains bullish, supported by global food security requirements, tight supply conditions and sustained import demand from key markets such as India and Australia, while the methanol price is expected to remain stable on the back of balanced supply-demand fundamentals,” the company said.
• Petronas Chemicals added that it remains cautious on the specialties segment given subdued construction and automotive end markets, while consumer goods demand showed modest growth.
($1 = 4.0610 ringgit)
Source: Reuters
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