Prolonged Gas Curtailment Dampens TNB's Earnings for FY2011

27/10/2011

Kuala Lumpur, 28 October 2011 - Tenaga Nasional Berhad (TNB) today announced a net loss of RM453.9 million for the 4th Quarter of the financial year ended 31 August 2011 (FY2011), compared to a net loss of RM440.2 million reported for the 3rd Quarter. For the full year FY2011, the Group reported a net profit of RM499.5 million as compared to the RM3.2 billion reported in FY2010 mainly attributed to higher fuel costs.

Summary of highlights:

3 months ended 31st August FY2011 (4th Quarter)

 
• Net loss of RM453.9 million
 
• 17.4% increase in Group revenue compared to 3rd Quarter 2011 against 12.5% increase in operating expenses
 
• Average coal price of USD117.3/mt

Full Year FY2011

 
• Net profit of RM499.5 million
 
• 6.2% increase in Group revenue against 19.1% increase in operating expenses
 
• Additional fuel cost of RM2.1 billion from oil and distillate
 
• EBITDA margin at 16.1% compared to 26.8% reported in FY2010
 
• 3.1% unit electricity demand growth in Peninsular Malaysia
 
• Average coal price of USD106.9/mt

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