KUALA LUMPUR: Bumi Armada Bhd
’s net profit for the third quarter ended Sept 30, 2025 (3Q 2025) fell to RM96.13 million from RM211.33 million posted in the same period last year.
Revenue also decreased to RM360.71 million from RM551.86 million previously, mainly due to lower revenue from the operations segment, the company said in a filing with Bursa Malaysia today.
It said the decline followed the recognition in 2Q 2025 of a "distribution received from the trustee of the bankrupt estate of the former charterer of the Armada Perdana floating production, storage and offloading (FPSO) (a disposed vessel)”.
"Lower operating and maintenance revenue arising from reduced reimbursable costs incurred for the Armada Kraken FPSO” also contributed to the lower revenue, it said.
For the nine months ended Sept 30, 2025 (9M 2025), Bumi Armada’s net profit narrowed to RM358.93 million from RM717.83 million registered in the same period last year, while revenue declined to RM1.24 billion from RM1.77 billion in 9M 2024.
According to a statement, the group maintained a strong cash balance despite reducing debt by US$89 million (US$1=RM4.12) throughout the quarter, while the future firm order book at the end of 3Q 2025 amounted to RM8.6 billion, with additional optional extensions of up to RM9.2 billion.
Chief executive officer Gary Christenson said these results highlight the group’s continued ability to generate strong cash flows, underpinned by resilient operations and disciplined execution.
"We will continue to leverage our financial strength to pursue growth opportunities through bidding for new projects and prudent corporate initiatives,” he said. - Bernama
