KUALA LUMPUR (Sept 29): Yinson Holdings Bhd (KL:YINSON) said its net profit for the second quarter grew 26.7% year-on-year amid the absence of a one-off charge related to the refinancing of the floating production storage and offloading (FPSO) Maria Quitéria project financing loan.
Net profit for the three months ended July 31, 2026 (2QFY2027) rose to RM128 million from RM101 million in the previous year’s corresponding quarter.
This was despite revenue falling 16.7% to RM1.14 billion from RM1.36 billion mainly due to lower contribution from engineering, procurement, construction, installation, and commissioning (EPCIC) activities following the progress of construction.
Yinson declared an interim dividend of one sen per share during the quarter, amounting to approximately RM29 million with an entitlement date of Dec 4 and payment date of Dec 18. This brings the total dividends declared for FY2027 to date to three sen per share.
For the six months of FY2027, Yinson’s net profit increased 14.81% to RM248 million from RM216 million in the same period a year ago, though revenue fell 15.77% to RM2.19 billion from RM2.59 billion.
The group remained cautiously optimistic about delivering satisfactory results for the financial year ending Jan 31, 2027, citing its long-term contracted revenues, operational cash flow visibility, capital management and diversified business portfolio.
In a statement, Yinson group executive chairman Lim Han Weng said the timely sail-away and safe arrival of FSO PTSC Lac Da Vang offshore Vietnam, coupled with steady progress in final commissioning, underscored the group’s execution capabilities as it moves towards first oil and the commencement of the vessel’s charter in the fourth quarter of this year.
Meanwhile, Yinson’s marine electrification business marinEV secured two contract awards within a month, which Lim said reflected growing market demand for cleaner maritime solutions.
“Closer to home, chargEV’s launch of Malaysia’s largest AC EV charging hub at Merdeka 118 marks another milestone in supporting the nation’s low-carbon transition,” he added.
Shares of Yinson were unchanged at RM2.11 at Tuesday’s noon break, valuing the group at RM6.79 billion.