KUALA LUMPUR: Yinson Holdings Bhd
’s net profit rose 26.7% to RM128mil in the second quarter ended July 31, 2026 (2Q27) from RM101mil a year earlier.
Revenue fell 16.7% to RM1.14bil from RM1.36bil in the corresponding quarter last year, while earnings per share stood at 0.20 sen against 1.60 sen previously.
On a quarter-on-quarter basis, revenue increased 8.3% from RM1.05bil, mainly due to the impact of an annual charter rate escalation for FPSO Maria Quiteria and a higher number of operating days.
Its profit before tax rose 7.9% to RM233mil from RM216mil in the preceding quarter, supported by the same factors and a higher share of results from joint ventures, mainly due to increased construction progress for the Lac Da Vang project.
This was partly offset by higher finance costs arising from one-off interest charges related to the early repayment of a term loan.
For the six months ended July 31, Yinson’s net profit rose 14.8% to RM248mil from RM216mil a year earlier, while revenue fell 15.8% to RM2.19bil from RM2.59bil.
In a filing with Bursa Malaysia, Yinson said its fully operational floating production, storage and offloading (FPSO) fleet had about US$19.3bil in contracted revenue backlog.
Meanwhile, Yinson Renewables has forecast revenue of about US$2.5bil underpinned by long-term power purchase agreements.
“Backed by long-term contracted revenues, operational cash flow visibility, disciplined capital management and a diversified platform across the group’s offshore production, renewables and green technologies businesses, the group remains cautiously optimistic about delivering satisfactory results for the financial year ending Jan 31, 2027,” it said.
Yinson also declared a second interim single-tier dividend of one sen per share, amounting to about RM29mil. The dividend will be paid on Dec 18, with an entitlement date of Dec 4.
