Cash flow PETRONAS Chemicals Group

Equities

PCHEM

MYL5183OO008

Commodity Chemicals

End-of-day quote BURSA MALAYSIA Other stock markets 2024-09-11			5-day change	1st Jan Change
5.350 ^MYR	-1.47%		-2.37%	-25.28%

08-16	Malaysian Shares End Week in Green on Upbeat GDP Data; Petronas Chemicals Shares Rally Over 6%	MT
08-16	Petronas Chemicals Shares Rise After Higher Quarterly Profit	DJ

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Published financial data: PETRONAS CHEMICALS GROUP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	16.37B	14.36B	23.02B	28.95B	28.67B
Total Revenues	16.37B	14.36B	23.02B	28.95B	28.67B
Cost of Goods Sold, Total	11.91B	10.84B	14.45B	20.28B	23.88B
Gross Profit	4.46B	3.52B	8.58B	8.68B	4.78B
Selling General & Admin Expenses, Total	1.63B	1.68B	1.93B	2.59B	3.3B
Other Operating Expenses	-416M	-360M	-362M	-551M	-671M
Other Operating Expenses, Total	1.22B	1.32B	1.57B	2.04B	2.63B
Operating Income	3.24B	2.2B	7.01B	6.63B	2.16B
Interest Expense, Total	-18M	-17M	-17M	-24M	-44M
Net Interest Expenses	-18M	-17M	-17M	-24M	-44M
Income (Loss) On Equity Invest.	-54M	-316M	729M	165M	93M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-13M	-10M	-12M	-42M	-95M
EBT, Excl. Unusual Items	3.16B	1.86B	7.71B	6.73B	2.11B
Gain (Loss) On Sale Of Assets	-	-	-	-	-
EBT, Incl. Unusual Items	3.16B	1.86B	7.71B	6.73B	2.11B
Income Tax Expense	360M	271M	391M	406M	360M
Earnings From Continuing Operations	2.8B	1.59B	7.32B	6.33B	1.75B
Net Income to Company	2.8B	1.59B	7.32B	6.33B	1.75B
Minority Interest	16M	42M	26M	-5M	-54M
Net Income - (IS)	2.81B	1.63B	7.34B	6.32B	1.7B
Net Income to Common Incl Extra Items	2.81B	1.63B	7.34B	6.32B	1.7B
Net Income to Common Excl. Extra Items	2.81B	1.63B	7.34B	6.32B	1.7B
Per Share Items
Net EPS - Basic	0.35	0.2	0.92	0.79	0.21
Basic EPS - Continuing Operations	0.35	0.2	0.92	0.79	0.21
Basic Weighted Average Shares Outstanding	8B	8B	8B	8B	8B
Net EPS - Diluted	0.35	0.2	0.92	0.79	0.21
Diluted EPS - Continuing Operations	0.35	0.2	0.92	0.79	0.21
Diluted Weighted Average Shares Outstanding	8B	8B	8B	8B	8B
Normalized Basic EPS	0.25	0.15	0.61	0.53	0.16
Normalized Diluted EPS	0.25	0.15	0.61	0.53	0.16
Dividend Per Share	0.18	0.12	0.46	0.41	0.13
Payout Ratio	82.53	58.97	32.68	60.74	113.21
Supplemental Items
EBITDA	4.82B	3.77B	8.54B	8.14B	3.97B
EBITA	3.24B	2.23B	7.04B	6.7B	2.33B
EBIT	3.24B	2.2B	7.01B	6.63B	2.16B
EBITDAR	-	-	-	-	3.99B
Effective Tax Rate - (Ratio)	11.41	14.59	5.07	6.03	17.06
Total Current Taxes	270M	225M	355M	449M	353M
Total Deferred Taxes	90M	46M	36M	-43M	7M
Normalized Net Income	1.99B	1.2B	4.84B	4.2B	1.26B
Interest Capitalized	-	109M	133M	176M	255M
Interest on Long-Term Debt	109M	126M	150M	200M	292M
Non-Cash Pension Expense	-	-	-	12M	-45M
Supplemental Operating Expense Items
Selling and Marketing Expenses	878M	967M	1.09B	1.44B	1.91B
General and Administrative Expenses	754M	718M	839M	1.16B	1.39B
Net Rental Expense, Total	-	-	-	-	20M
Imputed Operating Lease Interest Expense	-	-	-	-	9.9M
Imputed Operating Lease Depreciation	-	-	-	-	10.1M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	12.04B	12.71B	16.39B	8.89B	9.27B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	12.04B	12.71B	16.39B	8.89B	9.27B
Accounts Receivable, Total	1.77B	1.63B	2.5B	3.07B	2.64B
Other Receivables	286M	350M	315M	588M	1.25B
Total Receivables	2.06B	1.98B	2.82B	3.66B	3.89B
Inventory	1.66B	1.81B	2.21B	3.46B	3.77B
Other Current Assets, Total	7M	3M	4M	7M	12M
Total Current Assets	15.77B	16.5B	21.43B	16.02B	16.94B
Gross Property Plant And Equipment	39.87B	41.5B	43.31B	49.07B	53.14B
Accumulated Depreciation	-19.48B	-20.6B	-21.22B	-22.05B	-23.88B
Net Property Plant And Equipment	20.4B	20.9B	22.09B	27.03B	29.26B
Long-term Investments	1.06B	722M	1.48B	1.66B	1.71B
Goodwill	583M	242M	231M	3.01B	3.53B
Other Intangibles, Total	85M	590M	561M	6.54B	6.9B
Deferred Tax Assets Long-Term	971M	879M	823M	798M	746M
Other Long-Term Assets, Total	-	-	-	372M	1.12B
Total Assets	38.86B	39.83B	46.61B	55.43B	60.21B
Liabilities
Accounts Payable, Total	995M	812M	1.73B	2.52B	1.97B
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	-	50M	93M	101M	342M
Current Portion of Long-Term Debt	-	148M	139M	128M	158M
Current Portion of Leases	78M	80M	73M	125M	229M
Current Income Taxes Payable	77M	73M	270M	234M	178M
Unearned Revenue Current, Total	152M	140M	88M	88M	87M
Other Current Liabilities	1.92B	1.94B	2.56B	3.3B	5.99B
Total Current Liabilities	3.22B	3.24B	4.95B	6.5B	8.95B
Long-Term Debt	1.88B	1.99B	2.16B	2.49B	2.47B
Long-Term Leases	627M	908M	1.39B	1.69B	1.93B
Unearned Revenue Non Current	1.48B	1.34B	1.26B	1.17B	1.08B
Pension & Other Post Retirement Benefits	-	-	-	242M	279M
Deferred Tax Liability Non Current	906M	993M	974M	2.36B	2.37B
Other Non Current Liabilities	215M	336M	339M	1.24B	1.05B
Total Liabilities	8.32B	8.82B	11.07B	15.7B	18.13B
Common Stock, Total	8.87B	8.87B	8.87B	8.87B	8.87B
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	20.46B	21.13B	25.27B	27.67B	27.04B
Comprehensive Income and Other	598M	447M	862M	2.53B	4.51B
Total Common Equity	29.93B	30.45B	35B	39.08B	40.42B
Minority Interest	605M	563M	535M	655M	1.66B
Total Equity	30.54B	31.01B	35.54B	39.73B	42.07B
Total Liabilities And Equity	38.86B	39.83B	46.61B	55.43B	60.21B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8B	8B	8B	8B	8B
ECS Total Common Shares Outstanding	8B	8B	8B	8B	8B
Book Value / Share	3.74	3.81	4.38	4.88	5.05
Tangible Book Value	29.26B	29.61B	34.21B	29.53B	29.98B
Tangible Book Value Per Share	3.66	3.7	4.28	3.69	3.75
Total Debt	2.58B	3.18B	3.85B	4.53B	5.13B
Net Debt	-9.46B	-9.53B	-12.54B	-4.36B	-4.14B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	154M	184M
Debt Equivalent Oper. Leases	-	-	-	-	160M
Minority Interest, Total (Incl. Fin. Div)	605M	563M	535M	655M	1.66B
Equity Method Investments, Total	1.06B	722M	1.48B	1.66B	1.71B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	16M	18M	24M	37M	49M
Inventories - Finished Goods, Total	471M	549M	719M	2.18B	2.04B
Inventories - Others	1.17B	1.24B	1.47B	1.25B	1.68B
Land - (BS)	-	-	-	167M	197M
Buildings, Total	1.92B	1.93B	1.96B	2.4B	2.87B
Machinery, Total	29.01B	29.22B	29.59B	32.78B	33.76B
Full Time Employees	4.5K	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.81B	1.63B	7.34B	6.32B	1.7B
Depreciation & Amortization - CF	1.66B	1.64B	1.62B	1.52B	1.81B
Amortization of Goodwill and Intangible Assets - (CF)	-	33M	27M	71M	172M
Depreciation & Amortization, Total	1.66B	1.67B	1.65B	1.59B	1.98B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	54M	316M	-729M	-165M	-93M
Other Operating Activities, Total	10M	-49M	107M	-607M	203M
Change In Accounts Receivable	803M	58M	-799M	-225M	165M
Change In Inventories	181M	-143M	-529M	96M	-332M
Change In Accounts Payable	26M	-465M	1.14B	1.04B	1.5B
Cash from Operations	5.54B	3.02B	8.18B	8.05B	5.12B
Capital Expenditure	-2.35B	-1.48B	-1.54B	-1.88B	-2.35B
Sale of Property, Plant, and Equipment	1M	2M	1M	-	3M
Cash Acquisitions	-799M	-2M	-50M	-11.16B	-231M
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-18M	-169M	-47M	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	122M	50M	200M	133M	-13M
Cash from Investing	-3.03B	-1.44B	-1.56B	-12.95B	-2.59B
Short Term Debt Issued, Total	-	113M	83M	150M	226M
Long-Term Debt Issued, Total	1.9B	298M	321M	352M	-
Total Debt Issued	1.9B	411M	404M	502M	226M
Short Term Debt Repaid, Total	-	-	-33M	-141M	-1M
Long-Term Debt Repaid, Total	-2.15B	-124M	-274M	-213M	-265M
Total Debt Repaid	-2.15B	-124M	-307M	-354M	-266M
Common Dividends Paid	-2.32B	-960M	-2.4B	-3.84B	-1.92B
Common & Preferred Stock Dividends Paid	-2.32B	-960M	-2.4B	-3.84B	-1.92B
Special Dividend Paid	-	-	-800M	-	-
Other Financing Activities, Total	-181M	-119M	-81M	-114M	-215M
Cash from Financing	-2.76B	-792M	-3.18B	-3.81B	-2.18B
Foreign Exchange Rate Adjustments	-43M	-117M	238M	1.21B	29M
Net Change in Cash	-284M	662M	3.68B	-7.5B	380M
Supplemental Items
Cash Interest Paid	108M	119M	79M	110M	215M
Cash Income Tax Paid (Refund)	341M	204M	197M	462M	423M
Levered Free Cash Flow	2.07B	1.32B	4.92B	3.25B	2.48B
Unlevered Free Cash Flow	2.08B	1.33B	4.93B	3.26B	2.51B
Change In Net Working Capital	-751M	241M	-436M	594M	-1.53B
Net Debt Issued / Repaid	-257M	287M	97M	148M	-40M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.31	3.49	10.14	8.14	2.33
Return on Total Capital	6.18	4.09	11.91	9.93	2.95
Return On Equity %	9.2	5.15	22	16.85	4.28
Return on Common Equity	9.45	5.39	22.44	17.1	4.27
Margin Analysis
Gross Profit Margin %	27.22	24.54	37.26	29.97	16.69
SG&A Margin	9.97	11.73	8.38	8.96	11.51
EBITDA Margin %	29.44	26.25	37.1	28.1	13.83
EBITA Margin %	19.79	15.55	30.56	23.16	8.12
EBIT Margin %	19.79	15.32	30.45	22.91	7.52
Income From Continuing Operations Margin %	17.07	11.04	31.79	21.85	6.1
Net Income Margin %	17.17	11.34	31.9	21.84	5.92
Net Avail. For Common Margin %	17.17	11.34	31.9	21.84	5.92
Normalized Net Income Margin	12.14	8.37	21.04	14.52	4.41
Levered Free Cash Flow Margin	12.66	9.17	21.36	11.21	8.64
Unlevered Free Cash Flow Margin	12.73	9.25	21.41	11.26	8.74
Asset Turnover
Asset Turnover	0.43	0.37	0.53	0.57	0.5
Fixed Assets Turnover	0.83	0.7	1.07	1.18	1.02
Receivables Turnover (Average Receivables)	8.46	8.44	11.14	10.39	10.04
Inventory Turnover (Average Inventory)	7.1	6.26	7.19	7.14	6.6
Short Term Liquidity
Current Ratio	4.9	5.09	4.33	2.46	1.89
Quick Ratio	4.38	4.53	3.88	1.93	1.47
Operating Cash Flow to Current Liabilities	1.72	0.93	1.65	1.24	0.57
Days Sales Outstanding (Average Receivables)	43.14	43.36	32.77	35.13	36.34
Days Outstanding Inventory (Average Inventory)	51.41	58.49	50.78	51.11	55.27
Average Days Payable Outstanding	30.32	30.1	32.27	36.03	33.87
Cash Conversion Cycle (Average Days)	64.23	71.75	51.27	50.21	57.74
Long Term Solvency
Total Debt/Equity	8.45	10.26	10.83	11.4	12.2
Total Debt / Total Capital	7.79	9.3	9.77	10.24	10.87
LT Debt/Equity	8.19	9.36	9.97	10.51	10.46
Long-Term Debt / Total Capital	7.55	8.49