TNB Remains Resilient Amidst National Economic Recovery
Tenaga Nasional Berhad (TNB) continued to perform resiliently as the nation recovers from the adverse impact of the Covid-19 pandemic, charting an increase in revenue and net profit in tandem with increased economic activity in the first nine months of financial year 2021 (9MFY2021).
TNB’s group revenue edged up 9.6% year-on-year to RM36.9 billion from RM33.7 billion in line with the overall improvement in the Malaysian economy which grew 3% in the first nine months of 2021. This has contributed to a slightly higher group sales of electricity which grew by 1.1% to 87,950 GWh in the same period, and RM2.9 billion in net profit. The improvement in economic activities has also lent support to a positive performance in TNB’s subsidiaries.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) was reported at RM14.4 billion (up 4.6%). Overall, EBITDA margin was sustained at 39.0%, moderated by higher expenses which grew by 8.7% from increased business activities.
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