PETRONAS Continues To Thrive On Strong Performance In FY2021

PETRONAS has recorded a net profit of RM48.6 billion for the fiscal ended on December 31, 2021, on the back of a revenue of RM248.0 billion.

The strong performance is driven by the recovery in global energy demand and the ease of travel restrictions globally. 

In 2020, the group recorded a Loss After Tax (LAT) of RM21.0 billion but managed to achieve a Profit After Tax (PAT) of RM48.6 billion in 2021. Meanwhile, the current revenue of RM248.0 billion is mainly due to a favourable price impact for major products.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased to RM100.5 billion, and Cash Flows from Operating Activities (CFFO) rose to RM78.6 billion. As for the total assets, a staggering improvement to RM635.0 billion has been recorded as of December 31, 2021 compared to RM574.1 billion in 2020. 

RM350.9 billion was recorded for the shareholders’ equity as of December 31, 2021 compared to RM330.6 billion a year earlier throughout the same timeline. Capital Investments (CAPEX) was RM30.5 billion mainly due to upstream projects.

Getting to the fourth-quarter analysis of 2021, PETRONAS achieved revenue of RM76.6 billion, an increase from RM44.0 billion in the corresponding quarter in the year 2020. EBITDA also increased to RM28.1 billion from RM11.9 billion throughout the corresponding quarter last year. The group registered a PAT of RM13.4 billion against LAT of RM1.1 billion for the fourth quarter of 2020.

The President and Group CEO of PETRONAS, Datuk Tengku Muhammad Taufik, in his statement, said that PETRONAS’ strong performance in 2021 proves the dedication of its workforce as well as the group’s robust integrated energy portfolio.

“2022 will be a year that PETRONAS will need to step even more meaningfully in pursuing its purpose to become a progressive energy and solution partner enriching lives for a sustainable future.”

“Aligned to our three-pronged growth strategy and Net Zero Carbon Emissions by 2050 aspiration, PETRONAS is committed to ensuring that energy can continue to be produced and delivered responsibly and sustainably”, he added.