PETALING JAYA: Vantris Energy Bhd, formerly Sapura Energy Bhd
, returned to the black in the third quarter ended Oct 31, 2025 (3Q26), posting a net profit of RM4.27bil compared with a net loss of RM293.06mil a year earlier, following the completion of its financial restructuring.
In a statement, the group said the big earnings uplift was largely driven by material, non-recurring accounting gains from the restructuring exercise, including the recognition of RM4.47bil in forgiveness of debt resulting from the restructuring exercise, following the restructuring effective date on Sept 26, 2025.
“The restructuring significantly reduced total borrowings from RM10.76bil to RM5.7bil, enabling Vantris Energy to transition from a net liability to a net asset position — a crucial step toward long-term financial sustainability,” the statement noted.
Quarterly revenue, however, fell 14.8% to RM982.79mil in 3Q26 from RM1.15bil in 3Q25.
Operationally, the oil and gas group said it recorded a loss before interest, tax, depreciation and amortisation of RM150mil during the quarter due to ongoing issues at a project within its engineering and construction segment.
These issues weighed on segment performance, although the group said it is taking steps to “enhance operational excellence” and pursue opportunities with more balanced risk profiles.
“These measures, together with a strategic shift toward lower risk contracting models, are expected to support a gradual recovery in the segment over time,” it said.
Its operations and maintenance division, meanwhile, delivered “steady” results, supported by stable activity levels, while the drilling segment maintained a “healthy” outlook on firm rig demand and charter rates.
“Market conditions remain generally favourable, and the group aims to capitalise through disciplined contract management and improved fleet utilisation,” it added.
Group chief executive officer Muhammad Zamri Jusoh said the group’s priority remains delivering sustainable profitability through disciplined execution across its core businesses.
“While the benefits are becoming evident, we recognise there is still work ahead, particularly in strengthening our operational performance,” he noted.
For the nine-month period ended Oct 31, 2025 (9M25), Vantris Energy’s revenue declined 19.5% to RM2.85bil from RM3.54bil, while net profit rose to RM3.56bil from a net loss of RM216.16mil previously.
As at end-October, Vantris’ order book stood at RM6.3bil, with an additional RM3.9bil from joint ventures and associates.
Looking ahead, the group said its immediate priority is to exit Practice Note 17 status by delivering two consecutive profitable quarters, sustaining operational momentum and reinforcing stakeholder confidence.
