Company remains cautiously optimistic and will continue to monitor global headwinds
 
KUALA LUMPUR, May 11 (Bernama) -- PETRONAS Dagangan Berhad (PDB) yesterday announced in its virtual 41^st Annual General Meeting that it has returned to RM1 billion profitability recording a Profit Before Tax (PBT) of RM1.135 billion amidst economic recovery and increase in customer demand.
 
PDB’s revenue stood at RM36.7 billion on the back of stronger performance, representing a 62 per cent increase from FY2021. The Company declared a total dividend of 76 sen per ordinary share, which represents 100 per cent payout ratio.
 
Speaking on PDB’s performance, Managing Director and Chief Executive Officer Azrul Osman Rani said, “PDB’s strong financial performance is a reflection of the robust efforts on our core businesses as well as the hard work and commitment of our people. We made strategic investments and pushed forward with a focused approach. We were able to meet the needs of our customers and deliver shareholder returns despite operating in a challenging market environment.”
 
In 2022, PDB’s Retail business registered its highest sales record leveraging the strengths of its network and dealers, world-class fuel product offerings and innovative digital solutions. 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 in November 2022.
 
In the same year, the Commercial business saw a remarkable revenue growth of approximately 300 per cent in the Aviation segment. This upswing was attributed to the reopening of domestic and international borders as the tourism sector continued to gain momentum. It also continued to lead the Sustainable Aviation Fuel (SAF) offering in Malaysia through the refuelling of domestic and international passenger flights.
 
The LPG Business sustained its overall market leadership in Household and Commercial segments and continued to provide greater convenience to customers by expanding the reach of LPG cylinders to another 91 PETRONAS stations and 160 PETRONAS@Mini Market outlets. PDB also entered into a joint venture with PETROS through the incorporation of PETROSNiaga as part of its plan to expand and grow its market presence in Sarawak.
 
Throughout the year, the Lubricant business achieved notable success with the launch of two new product lines – PETRONAS Urania with StrongTech and PETRONAS Syntium with CoolTech+ – through its collaboration with Formula One and MotoGP. In addition, the business expanded its reach by establishing 32 new PETRONAS AutoExpert outlets, increasing the total number of outlets to 46 since its inception in 2021. The Lubricant business also strengthened its partnerships by expanding its collaborations to Perbadanan Usahawan Nasional Berhad (PUNB) and SME Bank, which accelerated its expansion efforts and fostered the growth of local entrepreneurs.

Mesra Retail and Café Sdn. Bhd. continued to drive and deliver commendable results in the non-fuel business segment with an increase in revenue by 24 per cent, exceeding market and sector growth. The year in review saw a rapid expansion of Mesra own-label products, which contributed 10 per cent of the total chargeable sales on the back of encouraging customer demand. The business also achieved a key milestone through the launch and expansion of its F&B brand, Café Mesra, which has operationalised more than 50 outlets Peninsular Malaysia since its launch in July 2022.
 
Setel continued to execute its strategies in four areas namely, fuel, mobility, e-commerce and fintech. To increase fuel adoption at PETRONAS retail stations, Setel launched its Apple watch app and rolled out new features such as Cardless SmartPay, One Tap Fuelling and Setel Lite. Setel achieved an all-time-high Gross Merchandise Value (GMV) of RM1.8 billion, which is an 80 per cent increase from 2021.
 
For mobility, Setel introduced on-demand auto services where users can renew road tax or purchase insurance directly from the app and be rewarded with Mesra points. This roll-out has increased the customer’s average share of wallet by 38 per cent against 2021 from cross-selling of non-fuel products to fuel customers. Setel also partnered with JomCharge and Gentari to provide greater convenience to EV customers, covering more than 49 charging points.
 
Setel’s PETRONAS Shop registered more than 100 per cent growth in GMV against 2021 to RM25 million with new product offerings. Furthermore, PETRONAS Shop ventured into a minimum viable product (MVP) to test the Singapore market in December 2022.
 
“The remarkable business results underscores our commitment in delivering high-quality offerings to make our customers’ everyday lives simpler and better. Whilst we remain cautious about the challenges that global headwinds may pose, we are confident and optimistic in our ability to adapt and navigate through them successfully,” added Azrul.

Issued by
PETRONAS Dagangan Berhad 

SOURCE: PETRONAS Dagangan Berhad

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Nurul Athirah M Khaidir
Tel: +6012 682 5608
Email: nurulathirah.mkhaid@petronas.com 

Name: Myra Liyana Razali
Tel: +6012 689 0188
Email: myraliyana.razali@petronas.com 

--BERNAMA