Sapura Energy Berhad annoucned its first quarter results posting a group profit after tax and minority interests of RM82 million for financial year 2025, marking a reversal of the RM728 million loss after tax and minority interests posted in the previous quarter.
Apart from the LATAMI in Q4 FY2024, Sapura Energy said it has been registering positive results for every quarter since the beginning of FY2024. The group said the net gain was achieved on the back of RM1.18 billion in revenue, a slight improvement compared to the RM1.12 billion revenue recorded in Q4 FY2024. The group said it has also generated approximately RM132 million in free cash flows in Q1 FY2025.
“The results show our people’s hard work in fixing some of the inconsistent performance in the past. It reflects our determination to turn around the company, despite our status as a Practice Note 17 issuer”, said Sapura Energy Group CEO Datuk Mohd Anuar Taib.
Its earnings before interest, taxes, depreciation, and amortisation (“EBITDA”) for the quarter reached RM147 million, representing an EBITDA margin of 13 percent.
The group received a letter dated 7 June 2024 from the Corporate Debt Restructuring Committee (“CDRC”) stating that the CDRC had extended the standstill period for the Company and its relevant subsidiaries, up to 10 March 2025.
