Elridge Energy Holdings Bhd posted a 53.6% jump in net profit to RM39.96 million for the first half ended June 30, 2026 (1H26), from RM26.01 million a year earlier, driven by higher revenue and improved product margins.
Revenue for 1H26 rose 22.8% to RM262.5 million from RM213.81 million, while basic earnings per share increased to two sen from 1.3 sen previously.
The stronger half-year performance was underpinned by the second quarter (2Q26), where net profit surged to RM22.19 million from RM12.43 million, while revenue climbed to RM131.71 million from RM104.14 million.
Palm kernel shell (PKS) remained Elridge Energy’s main revenue driver, contributing RM127.31 million or 96.7% of 2Q26 revenue, supported by customers in Japan, Malaysia and Thailand.
Executive Director and Chief Executive Officer Oliver Yeo said the group also recorded significantly stronger cash generation, with net cash from operating activities reaching RM75.56 million in 1H26, compared to RM2.32 million a year earlier.
Elridge Energy completed new PKS production facilities in Kuantan and Pasir Gudang in 1H26, lifting annual production capacity to 1.44 million metric tonnes. Four additional production lines in Kuantan are targeted to commence operations in 4Q26, adding another 480,000 tonnes annually.
The group is also diversifying into higher-margin activated carbon production, while its planned Lahad Datu facility is expected to add a further 240,000 tonnes of annual capacity upon completion in FY27.
As at end-June, cash and bank balances strengthened to RM197.81 million from RM123.65 million at end-2025.
Looking ahead, Elridge Energy remains cautiously positive on FY26, supported by further capacity expansion and diversification as it seeks to capture growing demand for biomass fuel products.
