KUALA LUMPUR: Back by a robust portfolio of long-term contracts, Yinson Holdings Bhd
said it is optimistically projecting satisfactory results for the current financial year.
In a stock exchange filing, the floating production storage and offloading (FPSO) vessels operator said it has transitioned from the engineering, procurement, construction, installation and commissioning (EPCIC) phase to the operations phase as its fleet of FPSO vessels have become fully operational.
This comes following the commencement to the Agogo FPSO charter in August 2025.
Yinson group executive chairman Lim Han Weng said in a press statement the group continues to demonstrate resilience and foresight in driving sustainable growth and the energy transition.
"With the Agogo FPSO achieving first oil, our FPSO fleet is now fully operational, securing steady cash inflows over the next few decades."
He added the US$1.168bil project bond for FPSO Maria Quitéria was the group's latest milestone in international markets. In Vietnam, the group secured a new FSO project through its joint venture with PTSC South East Asia Pte Ltd.
"These developments position us well to pursue new opportunities, particularly in lease-and-operate FPSO projects, renewable energy ventures and the expanding transport electrification space," he added.
In the second quarter ended July 31, 2025 (2QFY26), Yinson recorded a net profit of RM101mil, which was about half the net profit of RM203mil in the year-ago quarter. Earnings per share dropped to 2.3 sen from 5.6 sen in the comparative quarter.
Revenue was down to RM1.36bil in 2QFY26 from RM2.14bil in 2QFY25.
Over the six-month period, the group's net profit was RM216mil, down from RM406mil in the year-ago period while revenue fell to RM2.59bil from RM4.36bil in the same period in 2024.
Yinson said revenue was dragged lower mainly by the offshore production segment, which saw a RM1.79bil drop in revenue to RM2.49bil during the first half of the financial year, due to lower contribution from EPCIC activities following the achievement of first oil for FPSO Maria Quitéria and FPSO Atlanta in 3QFY25 and 4QFY25 respectively, while the Agogo FPSO is in the final stages of construction.
Apart from the lower revenue, bottomline was impacted by higher finance costs arising from a one-off charge related to the refinancing of FPSO Maria Quitéria’s project financing loan into a US$1.168bil project bond, partially offset by lower income tax expenses following a change in tax basis for the group’s offshore production operations in the Netherlands.
The board of directors declared an interim dividend of one sen per share with entitlement date on Dec 4, 2025, and payable on Dec 19, 2025.
