Revenue up 15% to RM152.4bn; PAT RM27.2bn; CAPEX RM41.4bn and full ownership of PRefChem expected in 2H 2026 amid West Asia conflict-driven volatility.
Becomes strategic partner in a spin-out commercialising an electrochemical route to turn captured CO₂ into glycolic acid and PLGA using renewable electricity; Salalah eyed for first non‑EU plant.
Spin-out backed by strategic and financial investors to scale an electrochemical CO₂-to-chemicals platform targeting glycolic acid and compostable PLGA.
Project will produce 2 MMSm³/day sweet gas, 950 m³/day condensate and 80 t/day sulphur pellets under a design-build-own-operate-maintain framework.
Import terminals, LOHC and electrolysers advance; pipeline and local distribution are planned, but policy, financing and coordination still limit rollout.
Q1 revenue $1.2B; production 1.21Mt (98% capacity), sales 1.09Mt. 61% of March output rerouted via alternative logistics. Prices rose 62% in March. H2 2025 dividend $658M; merger forms global polyolefins platform.
EBITDA excl. items rose to USD 896m; net income USD 327m. Middle East conflict disrupted fertilizer supply and raised prices; the company used its global model to sustain production and sourcing.
Q1 net sales MSEK 7,907 (9,622); operating profit MSEK 860 (3,638). Weaker USD, lower pellet premiums and higher energy, plus transport and mine issues reduced volumes; ~2 Mt 2026 shortfall
Largest declines in fossil oils: VLSFO -44%, HSFO -25%, ULSFO -13%; MGO -7%, MDO -11%. (Bio-)LNG & methanol +6.4%, bioblends +2.7%; RED III, pricing, regs cited.
Fuel supply strained by West Asia crisis—~40% of crude via Strait of Hormuz; crude prices +40%, shipping and insurance up. Domestic demand exceeds supply; govt subsidises RON95/diesel; avoid hoarding.
