Perdana Petroleum Bhd. · MYX:PERDANA
Perdana Petroleum Bhd — Q1 2024 Earnings Presentation
12 slides from Perdana Petroleum Bhd's earnings presentation, 2024
Slide 1: 1Q FY2024 Financial Results
perdana petroleum 1Q FY2024 FINANCIAL RESULTS
Slide 2: Disclaimer
DISCLAIMER This presentation is provided on a strictly private and confidential basis and is being supplied to you solely for your information and for discussion purposes only. All information contained in this presentation belongs to Perdana Petroleum Berhad (the “Company” or “PPB”) and may not be
Slide 3: RM99.2mil revenue, RM6.1mil profit, 62% utilisation, RM702mil equity
RM99.2mil RM6.1mil 62% RM702mil 3
Slide 4: PETRONAS capex outlook forecast by Fitch Ratings
Fitch Ratings in a report in December 2024 forecasted PETRONAS’ annual capex to rise to around RM55bil to RM60bil over 2024 to 2026 (2022: RM37.8bil). The national oil company’s 2024-26 activity outlook report stated it will carry out an average of about 300 facilities improvement plans annually for
Slide 5: OSV market reinvigorated; battery-hybrid adoption
• OSV market have been reinvigorated currently at a higher rates and higher utilisation levels after some seven years of oversupply, however newbuilds are still not yet in the cards. The high cost of construction, high price of financing and high uncertainty around new fuels, especially with the ESG
Slide 6: Financial Year 1Q2024 Revenue (RM'm)
Financial Year 2020 2021 2022 2023 1Q2024 Revenue (RM'm) 208 154 197 314 99 EBITDA (RM'm) 39 (196) 70 117 28 PAT (RM'm) (66) (328) 11 44 6 EBITDA Margin % 19% -128% 36% 37% 28% PAT Margin % -32% -214% 6% 14% 6% EPS (sen) (3.20) (14.81) 0.51 2.00 0.27 Cash and Cash Equivalent (RM'm) 47 23 45 67 37 Bo
Slide 7: Utilisation and revenue Q1 2024 vs 2023
% 2024 2023 % Changed • The higher Revenue achieved in the 1st quarter of 2024 due to UTILISATION the high utilisation rates of 62% (2023: 31%) due to the Q1 62% 31% 100 continuity of 13 contracts (included 6 in-charter unit) secured in 2023 that work through monsoon season and 6 workorders YTD 62%
Slide 8: Financial Performance, Capital Structure and Gearing Ratio
FINANCIAL PERFORMANCE CAPITAL STRUCTURE (RM’mil) (RM’mil) 2021 2022 2023 2024Q1 RM’mil 2021 2022 2023 1Q2024 400 62% 70% 59% Total Asset 823 823 919 927 300 58% 60% Total Equity 585 548 666 702 200 49% 314 50% Total Debts* 256 203 154 144 100 161 197 Cash & Cash Equivalents 23 45 67 37 11.4 99 40% -
Slide 9: Fleet Utilisation Rate, Tender Book and Key Tenders
Lower fleet utilization on the back of tail-ending monsoon period. Fleet Utilisation Rate (%) Tender OngoingBook Key Tenders AHTS AWB WB Quarter Tender Vessel Type - Proposed Estimated 100% Provided By Unit Duration Commencement 58% 76% 90% ?% AW BARGE 3 years + 1 year Oil Major 1Q2025 80% 69% 62% 3
Slide 10: Operational Excellence and Strong Order Book
Operational Excellence, Cost Optimisation, Balance Portfolio and Maximise Utilisation Rates • To take advantage of the improved charter rates in the current market and remains committed to continue, improve and expand from FY2023. • To manage operations prudently to adapt to the rapidly evolving env
Slide 11: Key Takeaways
• Recorded a Profit After Tax of RM6.1m in Quarter 1 after 9 years (last profitable Q1 in 2015) • Strong Balance Sheet : healthy gearing • Strong Order Book : approximately RM600m up to 2027 • Sustained growth : niche market player cater for green and brownfield • Focus on core business : AHTS and A
Slide 12: Contact details
Level 18, Block 2, VSQ @ PJCC, Jalan Utara Follow Us 46200 Petaling Jaya, Selangor Darul Ehsan, Malaysia A black letter f in a white circle Description automatically generated with medium confidence A white square with black letters on it Description automatically generated with low confidence t: +6
Perdana Petroleum Berhad — Q1 2024 Earnings Presentation on 6ix