Tenaga Nasional Berhad (TENAGA) Earnings Call Transcripts

Tenaga Nasional Berhad's Latest Earnings Call - Q1 FY2026

In the first quarter of fiscal year 2026, Tenaga Nasional Berhad (TENAGA:MY) reported a revenue of MYR 17 billion, reflecting a year-on-year increase of MYR 1.1 billion, driven by a 7% rise in electricity sales. The adjusted profit after tax (PAT) also rose by 6.5% to MYR 242.5 million, supported by improved operational efficiencies and a stable regulatory framework. Management has raised its electricity demand growth guidance to between 4.5% to 5.5%, aligning with Malaysia's GDP growth projections, while maintaining a capital expenditure (CapEx) guidance of MYR 18 billion for the year, with MYR 13 billion allocated to regulated projects.

Reported metrics

Guidance from management

Management maintained its CapEx guidance at MYR 18 billion for the year, with MYR 13 billion allocated to regulated projects. They also revised electricity demand growth projections upward to between 4.5% to 5.5%.

What management said

Thank you, Dato Sham and Mr. Badrul for your presentations. And just want to inform that we have 87 Webex participants in our Webex. And now let us now move to the Q&A session. We will begin by taking questions from the attendees here in the room, followed by those joining us on Webex. With that, I open the floor for questions. Please feel free to raise your hand and our staff will pass the microphone to you so you c...

The MYR 2.5 billion are all regulated CapEx, yes. The contingent CapEx is relatively small for the first quarter at only around MYR 200 million plus. But this is expected because, like I said, the priority is to deploy the base CapEx. So the contingent CapEx is much smaller and will be deployed later. But this is the part that, like I said, for us, it doesn't matter anymore the difference. As long as the full year,...

What analysts pressed on

Analysts expressed concerns regarding the negative fuel margin and its implications in a rising coal price environment. There were also questions about the sustainability of Genco's operational performance and the potential impact of geopolitical tensions on supply chains.

Main topics on the call

• Revenue Growth — TENAGA achieved a revenue of MYR 17 billion, up from MYR 15.9 billion in the previous year, driven by a 7% increase in electricity sales. Management noted, "the implementation of mall cost-reflective RP4 tariff has actua...
• Operational Efficiency — The company reported an EBITDA increase of MYR 335 million, or 6.5%, to MYR 5.5 billion, reflecting improved operational efficiencies. The EBITDA margin improved to 34%, indicating effective cost management despite highe...
• Electricity Demand Guidance — Management revised its electricity demand growth projection upward to between 4.5% to 5.5%, in line with Malaysia's GDP growth. This reflects a strong outlook for electricity consumption driven by commercial and data cen...
• CapEx and Investment Strategy — TENAGA maintained its CapEx guidance at MYR 18 billion for the year, with MYR 13 billion for regulated projects. Management emphasized, "we will continue to uphold a prudent capital management and optimize our capital st...

Read the full Tenaga Nasional Berhad transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 7 Tenaga Nasional Berhad earnings call transcripts on record, spanning November 28, 2023 to May 26, 2026. Based on this history, Tenaga Nasional Berhad reports semi-annually. The most recent call on file is dated May 26, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

TENAGA

Exchange

KLSE

Country

MY

Sector

Utilities

Industry

Electric Utilities

Calls on record

7

First call

November 28, 2023

Most recent

May 26, 2026

Reporting cadence

semi-annually