Cnergyico PK Limited Reports Revenue Growth Despite Net Loss in FY25

Karachi: Cnergyico PK Limited (CNERGY) held an analyst briefing to announce its financial performance for the fiscal year 2025, highlighting significant revenue growth but also revealing a net loss due to lower gross margins and reduced crack spreads.

The company reported revenues of PKR 297 billion for FY25, marking a 23% increase year-over-year, largely driven by increased refinery throughput. However, Cnergyico faced a net loss of PKR 2.9 billion, equivalent to a loss per share of 0.53, as gross margins fell to 1.7% and EBITDA stood at PKR 9.5 billion. A positive note was the decline in finance costs, which dropped by 49% to PKR 4.8 billion, aided by easing interest rates.

Cnergyico, the largest refinery within the domestic sector, has an annual capacity of 156,000 barrels per day. The company’s operations are divided into four major segments: an oil terminal capable of handling Very Large Crude Carriers (VLCC) of 130,000 metric tons, two oil refining units with significant capacity and port connectivity, and an oil marketing arm that includes over 470 retail sites.

The briefing also noted the company’s ownership of bulk storage facilities located in Kaemari, Mehmoodkot, and Shikarpur, along with a Single Point Mooring (SPM).

Within its oil marketing segment, branded as Byco, Cnergyico achieved a 34% year-over-year growth in sales volumes, with revenues reaching PKR 116 billion, up by 15% from the previous fiscal year. The company maintained a stable market share of 6% during both FY24 and FY25.

The presentation provided investors with a comprehensive overview of Cnergyico’s operational and financial strategies, setting the stage for future developments in the coming fiscal year.