KUALA LUMPUR: Sapura Energy Bhd
returned to the black with a net profit of RM189.53 million for the financial year ended Jan 31, 2025 (FY2025), compared to a net loss of RM508.66 million a year ago.
Revenue increased by 8.9 per cent to RM4.70 billion from RM4.32 billion previously, attributed to its operations and maintenance (O&M) segment, driven by the commencement of new projects.
In a filing with Bursa Malaysia today, the oil and gas services company said revenue for its engineering and construction (E&C) segment increased due to higher progress of existing projects and the commencement of new projects.
"However, this was offset by the drilling segment due to lower utilisation days of the rigs,” Sapura Energy said.
It said the E&C segment recorded revenue of RM3,006.6 million, reflecting an 11.0 per cent increase compared to RM2,708.8 million in the corresponding year.
The O&M segment recorded revenue of RM680.0 million, which was RM99.7 million or 17.2 per cent higher as compared to the corresponding year.
Meanwhile, the drilling segment’s RM1.14 billion revenue for the current year was lower by 7.3 per cent compared to the revenue of RM1.23 billion in the corresponding year.
For the fourth quarter ended Jan 31, 2025, the company recorded a net profit of RM405.68 million, compared to the net loss of RM728.44 million in the same quarter a year ago.
Revenue climbed to RM1.19 billion from RM1.12 billion previously.
Looking ahead, the group said it is well-positioned to sustain its recovery momentum given the RM8.5 billion group order book, the highest level achieved in the past few years.
Following the court order approving Sapura Energy’s Composite Scheme of Arrangement, the Group is now finalising its Regularisation Plan, which will enable the group to eventually exit its Practice Note 17 (PN17) status. - Bernama
