PETROLIAM NASIONAL BERHAD (Incorporated in Malaysia)

Transcription

1 FOR YEAR ENDED 31 MARCH 1. CONSOLIDATED INCOME STATEMENT Audited Revenue 76,979 66, Profit Before Taxation 25,975 28,361 (8.4) Tax Expense (8,764) (8,385) 4.5 Profit For The Year 17,211 19,976 (13.8) Attributable To: Shareholders Of The Company 15,312 18,096 (15.4) Minority Interests 1,899 1, ,211 19,976 (13.8) Included in the above: Depreciation & Amortisation 3,774 3, Interest Expense 1, EBITDA 30,753 32,615 (5.7) 2. SOURCES OF REVENUE Exploration and production business: Crude oil 11, , (13.0) Natural gas 1, Total exploration and production business 13, , (8.8) Gas business: LNG 14, , Processed gas 3, , Total gas business 17, , Oil business: Refined petroleum products 29, , Crude oil trading 6, , Total oil business 36, , Petrochemicals business 3, , (1.1) Logistics and maritime business 3, , Other revenue 3, , Consolidated revenue 76, ,

2 FOR YEAR ENDED 31 MARCH 2. SOURCES OF REVENUE (CONTINUED) Domestic 15, , Export 28, , International operations 32, , , , CONSOLIDATED BALANCE SHEET Audited Property, Plant and Equipment 44,284 40, Properties, Investment Properties, Land Held for Development and Prepaid Lease Payments 5,451 6,218 (12.3) Other Long Term Assets 11,614 11,622 (0.1) Cash, Fund Investments and Other Investments 35,841 34, Other Current Assets 8,943 12,820 (30.2) Total Assets 106, , Shareholder s Equity 63,463 63, Minority Interests 6,838 7,067 (3.2) Total Equity 70,301 70, Long Term Debt 9,600 9, Other Liabilities 26,232 26,620 (1.5) Total Equity and Liabilities 106, ,

3 FOR YEAR ENDED 31 MARCH 4. CASH FLOW Audited Net cash generated from operating activities 28,252 21, Net cash used in investing activities 3 (14,234) (13,106) 8.6 Net cash used in financing activities (9,902) (7,301) 35.6 Net surplus for the year 4, (Increase) / Decrease in deposits restricted 4 (3) 24 (112.5) Beginning cash balance 25,211 22, Foreign exchange difference (3,408) 1,865 (282.7) Ending cash balance 25,916 25, SEGMENTAL INFORMATION 5.1 Revenue 5 Third Parties Intersegment Gross Total Revenue Exploration & Production 18,936 15,731 13,479 10,520 32,415 26,251 Oil 36,225 29, ,146 29,928 Gas 13,018 12,926 1,948 1,332 14,966 14,258 Petrochemicals 4,154 4, ,418 4,400 Shipping 3,271 2,990 1, ,609 3,901 Others 1,375 1,369 1, ,922 2,044 Consolidated 76,979 66,215 19,497 14,567 96,476 80, Operating Profit Assets 5 Exploration & Production 4,954 6,431 Exploration & Production 55,637 55,113 Oil 10,201 10,616 Oil 8,822 11,129 Gas 9,807 9,144 Gas 12,800 10,883 Petrochemicals 2,303 2,373 Petrochemicals 5,616 5,683 Shipping (54) 81 Shipping 9,936 9,026 Others (528) 253 Others 13,322 14,205 Consolidated 26,683 28,898 Consolidated 106, ,039

4 FOR YEAR ENDED 31 MARCH 6. FINANCIAL RATIOS EBITDA (in USD Million) 6 30,753 32,615 EBITDA to fixed charges x 31.51x Long Term Debt to EBITDA 0.31x 0.29x Long Term Debt to Long Term Debt plus Equity 0.13x 0.13x Total Debt to Total Asset 0.11x 0.11x ROACE CAPITAL EXPENDITURE Business Segments: 9 Exploration & Production 9,857 5, Oil Gas Petrochemicals (15.8) Shipping 1,142 1, Others (29.9) Total 12,808 8, Demographical Segments: 9 Domestic 7,630 5, International 5,178 2, Total 12,808 8,

5 8. CAPITAL COMMITMENTS PETROLIAM NASIONAL BERHAD FOR YEAR ENDED 31 MARCH Business Segments: 10 Exploration & Production 6,077 5, Oil (32.8) Gas Petrochemicals (2.0) Shipping 1,381 1,657 (16.7) Others Total 9,014 7, Demographical Segments: 10 Domestic 7,531 5, International 1,483 2,716 (45.4) Total 9,014 7, BREAKDOWN OF CASH, FUND INVESTMENTS AND OTHER INVESTMENTS AS AT 31 st MARCH : USD 35,841 Million [31 st MARCH : USD 34,669 Million] By Maturity By Currency RM < 1 year USD to 5 years ZAR to 10 years Others By Type Government Securities Corporate Bonds Money Market Equities

6 FOR YEAR ENDED 31 MARCH 10. BREAKDOWN OF TOTAL DEBT AS AT 31 st MARCH : USD 11,564 Million [31 st MARCH : USD 11,871 Million] By Currency USD Million USD Million USD 7, , RM 2, , EUR 2, , JPY ZAR Others Sub-Total 12,017 11,871 Derivative Assets: 4 EUR (348) (3.0) - - JPY (105) (0.9) - - Total 11, , By Maturity USD Million USD Million <1 year 2, , to 5 years 5, , to 10 years 2, , to 20 years 1, , Sub-Total 12,017 11,871 Derivative Assets: 4 <1 year (348) (3.0) to 5 years (105) (0.9) - - Total 11, ,

7 FOR YEAR ENDED 31 MARCH 11. RESERVES 11.1 Breakdown of Reserves As At 1 st January 11,12 Oil Gas Total Oil Gas Total (in millions of barrels of oil equivalent) Domestic: Malaysia s reserves 5, , , , , ,126.3 International: 13 PETRONAS equity interest in international reserves by region: South East Asia , , , ,108.5 Asia , , , ,602.2 Africa 1, , , , , ,368.3 Middle East Oceania Total international reserves 2, , , , , ,244.5 Total PETRONAS reserves 7, , , , , , Reserves Replacement Ratio As At 1 st January 11,12,16 Oil Gas Total Oil Gas Total Domestic International 13,17 (1.1) (0.3) Total

8 12. PRODUCTION PETROLIAM NASIONAL BERHAD FOR YEAR ENDED 31 MARCH 11,12 Oil Gas Total Oil Gas Total (in thousands of barrels of oil equivalent per day) Domestic Malaysia s production , ,673.5 PETRONAS share of Malaysia s production , ,157.6 As a percentage of total production International 13 PETRONAS international production: Vietnam Myanmar Indonesia Sudan Iran Chad Egypt JDA Pakistan Turkmenistan Mauritania Australia Total international production Total PETRONAS production , , ,772.7

9 FOR YEAR ENDED 31 MARCH NOTES: 1. The financial statements of the Group have been prepared in accordance with Financial Reporting Standards (FRSs) in Malaysia. At the beginning of the Financial Year /09, the Group adopted new and revised FRSs which are mandatory for annual periods beginning on or after 1 July In addition, the Group has also early adopted certain FRS and Statements of Interpretation which are effective for annual periods beginning on or after 1 January FRS 139, Financial Instruments: Recognition and Measurement; IC Interpretation 9, Reassessment of Embedded Derivatives and IC Interpretation 10, Interim Financial Reporting and Impairment. 2. Restatement due to effects of adopting new and revised FRSs which have been accounted for retrospectively in accordance with specific requirements of the respective FRSs. The principal changes in accounting policies and their effects resulted mainly from the adoption of FRS 112, Income Taxes. 3. Includes capital expenditure. 4. Effects of adopting new FRSs have been accounted for either retrospectively or prospectively in accordance with specific requirements of the respective FRSs. 5. Segregation by business segments is unaudited. Information pertaining to Revenue as per item 5 is not comparable to Source of Revenue per item 2 due to differences in basis used in the segregation. 6. EBITDA consists of profit before taxation, minority interests, pre-acquisition profits and extraordinary items, with the addition of amounts previously deducted for depreciation, amortisation and interest expenses. EBITDA should not be viewed as an alternative measure of operating results or cash flows from operating activities as determined in accordance with Malaysian GAAP. EBITDA has been included because it is widely used as a financial measure of the potential capacity of a company to incur and service debt. 7. Fixed charges consist of interest expense and interest capitalised during construction for the applicable periods. 8. Return on average capital employed (ROACE) is calculated as profit before interest, taxes and dividends divided by average shareholder s equity and long-term debt during the year. 9. Segregation by business and demographic sectors is unaudited. 10. Outstanding capital commitments at balance sheet date are not provided for in the financial statements relating to approved and contracted for purchases of property, plant and equipment, share of capital expenditure for joint ventures and investment in shares. Segregation by business and demographical sectors is unaudited. 11. Oil reserves and production include condensates. 12. Figures are as reported in Annual Review of Petroleum Resources (ARPR) 1.1. and International figures are based on PETRONAS equity volume figures. Reserves for Iran South Pars 2 and 3 are based on the remaining entitlement of the buy back contract. 14. Includes reserves from Malaysia-Thailand Joint Development Area (JDA). 15. Includes reserves from coal seam gas of million barrels of oil equivalent. 16. Reserves Replacement Ratio as at 1 January and 1 January are calculated as reserves addition divided by production, based on calendar years and 2007 respectively. 17. Excluding coal seam gas, reserves replacement ratios for international gas and total international would be 6.0 and 2.3 respectively. On this basis, total reserves replacement ratios for gas and total for PETRONAS would be 1.9 and 1.4 respectively. 18. PETRONAS share of domestic production includes the share of profit oil to which it is entitled, the cost and profit oil and gas of PETRONAS Carigali and oil and gas sold by PETRONAS for the federal and state governments of Malaysia. 19. Represents PETRONAS 30 equity in the Iran South Pars 2 and 3, which is on a buy-back contract. 20. Income statement is translated at the average of USD 1.00: (31 March : USD 1.00: ). Assets and liabilities are translated at the rate prevailing as at 31 March of USD 1.00: (31 March : USD 1.00: ).