Petronas Chemicals Q1 group revenue grows 14%

09 May '14

2 min read

PETRONAS Chemicals Group Berhad (PCG) announces its financial results for the first quarter ended 31 March 2014.

For the three months ended March 2014, the Group revenue increased by 14% or RM457 million to RM3.8 billion, compared to the preceding quarter. This is achieved on the back of higher sales volume in line with significant improvement in operational performance with plant utilisation climbing to 80% from 66% in the preceding quarter.

Consequently, Group Profit After Tax jumped by 68% or RM341 million to RM839 million and EBITDA surged by 75% or RM535 million to RM1.2 billion. EBTIDA margin remained strong at 33%.

The Company has undertaken heavy statutory turnaround and maintenance activities at its various plants which started in Quarter 3, 2013 and is expected to be substantially completed in Quarter 2, 2014.

“With that, we would have completed our cycle of statutory turnaround activities for the main facilities in both business segments. We expect to achieve improved plant utilisation, which will translate into better financial performance from this year onwards,“ said Sazali Hamzah, President/ Chief Executive Officer of PCG.

About PETRONAS Chemicals Group

PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in South East Asia. It operates a number of world class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of over 10 million mtpa, it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products.

PETRONAS Chemicals Group Berhad

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