Bumi Armada Berhad announced its Q1 2026 financial results recording a revenue of RM306.6 million in Q1 2026, a decrease of RM40.5 million as compared to Q4 2025. Net profit1 was RM40.1 million, a decline of RM40 million compared to Q4 2025 and decline of RM145 million from last year.
The decrease was due to a combination of recognition of compensation payable to the charterer of Armada Kraken FPSO upon confirmation of the 3rd annual charter extension to 31 March 2028 and also various operational difficulties encountered in early 2026 which have subsequently been overcome.
The Group maintained a cash balance of almost RM1.2 billion in the first quarter, providing financial flexibility to support ongoing operations and strategic initiatives. The future firm vessel order book at the end of Q1 2026 amounted to RM7.5 billion, with additional optional extensions of up to RM8.6 billion.
