Vantris Energy's FY2026 Net Profit Surges To RM3.73 Bln On Debt Forgiveness

KUALA LUMPUR, March 30 (Bernama) -- Vantris Energy Bhd’s net profit surged to RM3.73 billion for the financial year ended Jan 31, 2026 (FY2026), from RM189.53 million in FY2025, driven by a one-off recognition of about RM4.1 billion in forgiveness of debt arising from its restructuring exercise.

The company, formerly known as Sapura Energy Bhd, said this was partially offset by the absence of gain on disposal of SapuraOMV Upstream Sdn Bhd amounting to RM792.1 million made in the preceding year. 

Operating profit, meanwhile, fell 88.5 per cent to RM69.70 million, it said in a filing with Bursa Malaysia today.

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“Operationally, the group’s full-year earnings were impacted by a single challenging project in Angola earlier in the year, while the broader portfolio remained stable,” said the energy services and solutions provider. 

Meanwhile, revenue for FY2026 fell by 20.4 per cent to RM3.74 billion from RM4.70 billion previously, mainly attributable to lower contributions from the engineering and construction (E&C) segment following the completion of major projects and lower progress on ongoing projects during the year.

For the fourth quarter of FY2026 (4Q FY2026), the group’s net profit dropped to RM167.04 million from RM405.68 million a year earlier.

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Revenue for the quarter under review declined to RM895.92 million from RM1.19 billion previously due to lower contributions from the E&C segment, following the completion of major projects and lower progress on ongoing projects during the quarter.

“This was partially mitigated by stronger performance from the drilling segment, which benefited from higher rig utilisation and improved charter rates in Q4 FY2026.

“Meanwhile, revenue from the operations and maintenance (O&M) segment remained relatively stable on a quarter-on-quarter basis,” said Vantris.

In a separate statement, its chief executive officer Muhammad Zamri Jusoh said FY2026 marked an inflection point for the group.

He said the successful completion of the group’s financial restructuring has strengthened its balance sheet and significantly reduced debt, positioning Vantris on a firmer footing entering FY2027.

“Our focus now turns squarely to disciplined execution, as we address the substantial operational priorities ahead,” he said.

Looking ahead, the group aims to exit its Practice Note 17 status by delivering two consecutive quarters of profitability, sustaining operational momentum, and reinforcing stakeholder confidence.

“Vantris remains committed to executing its turnaround, strengthening operational resilience, and creating long-term value for all stakeholders.

“At the same time, the group is closely monitoring geopolitical developments, particularly the ongoing conflict in West Asia,” it added.

-- BERNAMA