KUALA LUMPUR: Sapura Energy Bhd
registered a net loss in the third quarter of the financial year 2025, due mainly to forex losses and a lower share of profit from associates.
In a statement, the group reported a net loss of RM293.06mil, as compared to a net profit of RM30.89mil in the year-ago quarter, translating to a loss per share of 1.59 sen against an earnings per share of 0.19 sen previously.
This was despite revenue increasing to RM1.15bil in the quarter under review from RM1.1bil in the previous corresponding quarter.
Sapura Energy said its forex losses amounted to RM213mil in 3QFY25, due to the weakening US dollar against the ringgit.
“This underscores the critical importance of restructuring our debt portfolio to mitigate these risks.
"We are actively working with lenders and creditors to accelerate this exercise and enhance the Group's financial stability and resilience for the future”, said interim chairman Shahin Farouque Jammal Ahmad.
The group's share of profits from associates in 3QFY25 also decreased by RM93.7mil because of the reclassification of SapuraOMV Upstream Sdn Bhd to an asset held for sale since the first quarter of financial year 2025.
For the nine months period, Sapura Energy's net loss came to RM216.16mil, as compared to a net profit of RM219.78mil, while revenue rose to RM3.54bil from RM3.2bil.
According to Shahin Farouque, Sapura Energy's business expansion continues to be limited by financial constraints, especially in order book replenishment.
The group’s current order book stands at RM6bil, while the non-consolidated order book held by its joint venture and associated entities is valued at RM5.8 billion, representing Sapura Energy’s 50% share.
However, the order book value has improved year-on-year, rising from the RM5.4bil posted in 3QFY24 for the group, and RM1.8bil for its joint venture and associated entities in the same period.
