Sapura Energy Berhad announced unaudited preliminary full year results for the financial year ended 31 January 2024 with the group recording EBITDA of RM473 million, on the back of RM4.26 billion in revenue.
The group said being challenging fourth quarter in FY2024, following three profitable quarters earlier, resulted in a loss after tax and minority interest (LATAMI) of RM509 million for the year but was an improvement from the LATAMI of RM3.16 billion in the last financial year
For Q4 the group saw revenue of RM1.05 billion compared to RM1.2 billion registered in the same quarter the year before, however the group recorded a loss of RM728 million which was much improved from the RM3.2 billion in Q4FY23.
“While we have made progress, we are not yet out of the woods. The Reset plan is very complex, and there remains a lot of hard work ahead of us before we achieve long-term financial and operational stability,” said Sapura Energy Chairman Dato Mohammad Azlan Abdullah. “The progress we have made so far demonstrates our determination and resilience in navigating through those complexities to secure a sustainable future for Sapura Energy and its
stakeholders.”
The group said its orderbook currently stands at RM5 billion, while the orderbook held by the Group’s joint venture and associate entities currently stands at RM3 billion.
“In FY2024, we showed resilience and determination in overcoming challenges, to pave the way for growth,” said Dato Mohammad Azlan. “In FY2025, we will need to sustain the momentum, by strengthening our core capabilities, developing Energy Transition solutions, and driving our Reset strategy for long-term value.”
