Sapura Energy said that it remains cash generative, having generated RM252mil in free cash flow year-to-date in financial year 2025.
KUALA LUMPUR: Sapura Energy Bhd
registered a net loss for the third quarter of the financial year 2025 (3Q25), primarily attributed to foreign-exchange (forex) losses and a lower share of profit from associates.
In its results released yesterday, the group reported a net loss of RM293.1mil, compared to a net profit of RM30.9mil in the same quarter a year ago, translating into a loss per share of 1.59 sen against an earnings per share of 0.19 sen previously.
Despite this, revenue increased to RM1.15bil for 3Q25, up from RM1.1bil in the previous corresponding quarter.
The group attributed its forex losses of RM213mil in the quarter to the weakening of the 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 the company’s interim chairman Shahin Farouque Jammal Ahmad.
The group’s share of profits from associates in 3Q25 also decreased by RM93.7mil because of the reclassification of SapuraOMV Upstream Sdn Bhd to an asset held for sale since 1Q25.
For the nine-month period ended October, Sapura Energy’s net loss came to RM216.2mil, compared to a net profit of RM219.8mil a year ago.
However, revenue rose to RM3.54bil, up from RM3.2bil.
According to Shahin Farouque, the company’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 (JV) and associated entities is valued at RM5.8bil, representing Sapura Energy’s 50% share.
On a positive note, the order book value has improved year-on-year, rising from the RM5.4bil for the group in 3Q24, and RM1.8bil for its JV and associated entities in the same period.
Sapura Energy, in its filing with Bursa Malaysia, stated that it remains cash generative, having generated RM252mil in free cash flow year-to-date in financial year 2025.
The group added that its engineering and construction and operation and maintenance segments are actively pursuing a number of prospects.
These include transportation and installation, subsea inspection, repair and maintenance, and decommissioning.
The company is also aligning its operations with environmental, social and governance principles across all activities.
Earlier this week, Sapura Energy announced the completion of the divestment of its 50% equity interest in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS.
The company reiterated that this divestment marked a key milestone in advancing the group’s proposed restructuring scheme.
