Petronas Chemicals Shares Down Following Weaker 2Q 2025 Results
KUALA LUMPUR, Aug 14 (Bernama) -- Petronas Chemicals Group Bhd (PCG) shares were lower following weaker results in the second quarter ended June 30, 2025 (2Q 2025) after reporting a net loss of RM1.08 billion compared with a net profit of RM777 million a year ago.
The integrated chemicals producer said the net loss was due to lower earnings before interest, tax, depreciation and amortisation (EBITDA), asset impairment at Perstorp Holding AB, unrealised foreign exchange loss after revaluing shareholders' loan to Pengerang Petrochemical Company Sdn Bhd (PPCSB) and finance expenses from payment adjustments for trade payables at PPCSB.
Its revenue fell by 17 per cent to RM6.44 billion from RM7.73 billion previously, mainly due to lower sales volume, the strengthening of the ringgit against the US dollar and lower product prices.
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At 10.33 am, PCG share price eased two sen or 0.28 per cent to RM3.58 with 3.77 million shares traded.
The counter opened at RM3.55.
In a research note today, CIMB Securities Sdn Bhd said overall results fell short of its consensus expectations, with the key variance stemming from lower-than-expected plant utilisation.
'We have cut our FY 2025, FY 2026, and FY2027 forecast earnings by 11.8 per cent, 9.1 per cent, and 8.1 per cent, respectively, to reflect the weaker-than-expected 2Q 2025 results.
'We maintain our 'Hold' rating while lowering our target price (TP) to RM3.45 per share,' it added.
Maybank Investment Bank Bhd said PCG turning in a net loss in 2Q 2025 is pretty much in line with its views in early July 2025.
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