TNB Records Strong FY2022 EBITDA, Intensifies Progress in Energy Transition Plan

28/02/2023

TENAGA NASIONAL BERHAD (TNB) registered a 5.7% increase in revenue for the financial year (FY) ended 31 December 2022 to RM50.87 billion from RM48.12 billion in the corresponding period of 2021.

“This was propelled by a 5.2% year-on-year (YoY) improvement in electricity demand, mainly in the industrial and commercial sector. Electricity demand in Peninsular Malaysia alone, grew by 6.0% YoY,” said TNB President and Chief Executive Officer, Dato’ Indera Ir. Baharin Din.

The Group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 10.9% to RM20.81 billion in FY2022 from RM18.77 billion previously, driven by higher Group electricity revenue and lower Allowance for Doubtful Debts, contributed by the improvement in collections. As a result, EBITDA margin has improved to 40.9% from 39.0% as compared to the same period last year.

TNB’s Group profit after tax (PAT) however, was 8.0% lower at RM3.56 billion compared with RM3.86 billion in the same period of last year. “The PAT was impacted by higher taxes due to deferred tax movement of RM520.7 mil and the imposition of the Prosperity Tax of RM340.8 mil,” said Baharin.

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