GROUP FINANCIAL REVIEW GAS ASSETS & SOLUTIONS Gas Assets & Solutions segment’s revenue of RM3,113.4 million was RM230.6 million or 8.0% higher than the previous year revenue of RM2,882.8 million, following higher earning days mainly from lower dry-docking activities in 2022. The segment’s operating profit of RM1,536.6 million was RM285.8 million or 22.8% higher than the previous year’s profit of RM1,250.8 million, mainly from higher revenue as explained above. The Petroleum & Product Shipping segment’s revenue of RM4,667.3 million was RM1,466.9 million or 45.8% higher than the previous year’s revenue of RM3,200.4 million mainly from higher freight rates in 2022. The segment’s operating profit of RM1,021.0 million was RM740.4 million or 263.9% higher than the previous year’s profit of RM280.6 million, mainly from higher revenue as explained above. PETROLEUM & PRODUCT SHIPPING The Offshore Business segment’s revenue of RM4,322.4 million was RM1,283.5 million or 42.2% higher than the previous year’s revenue of RM3,038.9 million, mainly from higher recognition of revenue from the conversion of an FPSO following improved project progress during the year. The segment’s operating profit of RM665.8 million was RM139.5 million or 17.3% lower than the previous year’s profit of RM805.3 million, mainly due to increase in construction costs of an FPSO arising from the global supply chain issue and lockdowns in parts of China which affected the movement of project personnel, goods and services as well as from engineering, procurement and construction activities. OFFSHORE BUSINESS The Marine & Heavy Engineering segment’s revenue of RM1,651.6 million was RM184.3 million or 12.6% higher than the previous year’s revenue of RM1,467.3 million, mainly from higher progress for an on-going project and higher dry-docking activities in 2022. The segment‘s operating profit of RM60.8 million was RM313.0 million higher than the previous year’s loss of RM252.2 million in tandem with higher revenue, coupled with recovery of COVID-19 claims and reversal of cost provisions for both on-going and post sail-away projects. MARINE & HEAVY ENGINEERING 3,113.4 REVENUE RM MILLION RM MILLION OPERATING PROFIT FY2022 FY2021 FY2022 FY2021 2,882.8 1,536.6 1,250.8 4,667.3 REVENUE RM MILLION RM MILLION OPERATING PROFIT FY2022 FY2021 FY2022 FY2021 3,200.4 1,021.0 280.6 4,322.4 REVENUE RM MILLION RM MILLION OPERATING PROFIT FY2022 FY2021 FY2022 FY2021 3,038.9 665.8 805.3 1,651.6 REVENUE RM MILLION RM MILLION OPERATING PROFIT/(LOSS) FY2022 FY2021 FY2022 FY2021 1,467.3 60.8 (252.2) FINANCIAL CALENDAR FINANCIAL PERIOD 1st Quarter Financial Results Dividend Announced Paid 3rd Quarter Financial Results 2nd Quarter Financial Results 4th Quarter Financial Results ANNOUNCEMENTS OF FINANCIAL RESULTS ANNOUNCEMENT OF TAX EXEMPT DIVIDENDS 1 January 2022 to 31 December 2022 26 May 2022 22 June 2022 14 December 2022 14 September 2022 15 March 2023 17 November 2022 18 August 2022 15 February 2023 26 May 2022 17 November 2022 18 August 2022 15 February 2023 3rd 2nd 4th 1st SEGMENTAL PERFORMANCE – FY2022 Financial Review Financial Review 101 100 MISC Berhad Integrated Annual Report 2022
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