Company records double-digit growth amidst market challenges
 
KUALA LUMPUR, Feb 23 (Bernama) -- PETRONAS Dagangan Berhad (PDB) achieved a strong performance for the year ended 31 December 2022, boosting its full year revenue by 62 per cent to RM36.7 billion, on the back of higher sales volume and average selling price. Pre-tax profit for the year also rose by 53 per cent to RM1.1 billion, compared to RM740.8 million in the preceding year.
 
PDB’s overall performance for the quarter ended 31 December 2022 (Q4FY2022) continued on an upward trajectory attributable to steady growth in demand and higher average selling price, with an increase in revenue by 34 per cent to RM9.5 billion. Its pre-tax profit rose to RM241.7 million, representing a 21 per cent increase against the corresponding quarter last year.
 
Despite navigating a challenging market, PDB continued to deliver differentiated retail experience and quality offerings which resulted in Retail segment’s success in achieving an all-time high retail fuel and non-fuel sales record. This success was further bolstered by a sharp increase in volume for the Commercial segment compared to the corresponding quarter last year, following the ease of restrictions and increase in international flights.
 
PDB’s Managing Director and Chief Executive Officer Azrul Osman Rani said, “PDB capped off the fiscal year with an impressive fuel sales record and double-digit growth by serving our customers’ needs and preferences backed by our strong integrated ecosystem. Our strong results reflect our relentless pursuit of innovation and new growth ventures despite facing market challenges. The year saw us pivoting at pace to rethink our strategy, strengthen our capabilities and transform our business beyond fuel retailing.”
 
For the quarter under review, PDB made further inroads into the non-fuel and green mobility space with the launch of Malaysia’s first-of-its-kind EV charging hub located at PETRONAS Station Bandar Baru Ayer Hitam along the North-South Expressway, which allows up to seven EV cars to park and charge their vehicles at a time. PDB will continue to explore and expand its partnerships in the EV and sustainable energy space, primarily with Gentari Sdn Bhd as well as with other partners, to support Malaysia’s aspiration of becoming a low carbon nation by 2040.
 
In PDB’s fuel and lubricants business, PETRONAS Primax and PETRONAS Syntium continued to win the hearts of consumers, receiving the gold award at the Putra Brand Awards 2022 under the Automotive Fuel, Lubricants and Accessories category, marking PDB’s 13^th consecutive win of gold and above since 2010.
 
Setel saw rapid growth during the year, attributable to new non-fuel offerings released throughout 2022 on its mobile application (“app”) such as EV charging, on-street and off-street parking, road tax renewal, motor takaful and insurance, auto assistance and paying with Setel at retail partners. In addition, Setel emerged as one of the top 10 winners in the fintech category in APAC’s most authoritative graduate employer branding award, the Graduates’ Choice Award (GCA) 2023.
 
PDB’s sponsorship of the Badminton Association of Malaysia (BAM) in March 2022 has contributed to the development of the national squad’s capabilities. Malaysia won its first World Badminton Championships and Super 750 Series titles in 2022.
 
During the year, PDB in collaboration with its partners continued to drive positive social impact by providing essential aid to affected communities and mobilised its ROVR mobile refuelling trucks to deliver more than 40,000 litres of fuel to support the government’s flood relief efforts.
 
PDB also unveiled its expanded suite of non-fuel offerings whilst continuing to focus on sustainability, which include:
• Partnering with Malaysia Airlines Group to fuel eight flights operated by Malaysia Airlines, Firefly and MASWings with sustainable aviation fuel (SAF).
• Opening 41 Café Mesra stores in 2022 at PETRONAS stations and premises including standalone kiosks at Bangsar LRT station and selected Pos Malaysia outlets.
 
“Going into 2023, our promise of making customers’ everyday lives simpler and better will continue to guide our business strategies and decisions, both in the products and services we offer, and the positive impact we can make on the communities and environment,” Azrul concluded.
 
PDB declared an interim dividend of 26 sen per ordinary share and a special dividend of 14 sen per ordinary share for the quarter ended 31 December 2022. For the financial year 2022, PDB has declared total dividend of 76 sen per ordinary share, which represents 100 per cent payout ratio.
 
 
Issued by
PETRONAS Dagangan Berhad
 
Source: PETRONAS Dagangan Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Myra Liyana Razali 
Tel: 012 – 689 0188 
Email: myraliyana.razali@petronas.com.my
 
--BERNAMA