KUALA LUMPUR: Kinergy Advancement Bhd reported a transformational full year for the period ended Dec 31 2025 (FY25), crossing the half-billion ringgit revenue mark for the first time as its strategic pivot to sustainable energy fundamentally reshaped the group’s earnings profile.
FY25 revenue grew 109.6% to RM513.2 million, up from RM244.8 million a year earlier.
Profit after tax climbed 36.9% to RM30.1 million.
Executive deputy chairman and group managing director Datuk Lai Keng Onn said FY25 demonstrates that people can execute at scale without compromising discipline.
“Doubling revenue while protecting margins, diversifying into recurring income, and strengthening operational resilience is what truly matters.
“Our partnership with B.Grimm marks our evolution from an engineering, procurement, construction, and commissioning (EPCC) contractor to an independent power producer (IPP), reflecting growth that is both deliberate and sustainable.
“When we made the strategic pivot toward sustainable energy, we understood it would redefine Kinergy’s trajectory. Today, the SES segment contributes 70% of group revenue, and we expect this proportion to continue rising.
“We are no longer purely project-driven — we are building an energy business anchored by ownership participation, recurring cash flows, and a robust order book that provides multi-year visibility. This represents a fundamentally transformed Kinergy, positioned for long-term value creation,” he said.
FY25 marked a clear structural shift in Kinergy’s earnings profile.
The SES segment contributed RM360.1 million in revenue (+191.5% year-on-year) and delivered a segment profit of RM48.4 million (+60% year-on-year).
Strong execution on Kinergy’s flagship project, the Petronas gas engine power plant in Sabah and Labuan, underpinned this performance.
The project demonstrated the group’s ability to deliver complex, large-scale energy infrastructure on schedule, strengthening its track record with major clients in the sector.
FY25 also marked Kinergy’s first steps into power plant ownership and recurring income.
The acquisition of Jati Cakerawala, followed by the partnership with B.Grimm Power—one of Asia’s leading independent power producers—positions the group to capture EPCC value during the construction phase while establishing a long-term strategic platform for collaboration on future power and sustainable energy developments.
This partnership encourages a continuous engagement model, enabling Kinergy to participate across the asset lifecycle, supporting both near-term project earnings and the foundation for stable, long-term income streams.
This move into recurring cashflows is a meaningful shift in how the group earns and is expected to grow in importance in the years ahead.
Kinergy’s momentum accelerated into the final quarter of FY25.
Revenue in Q4 FY25 surged 141.1% year-on-year to RM191.4 million, the strongest quarterly result in the group’s history.
Profit before tax jumped 117.8% to RM17.0 million for the quarter.
The margin expansion to 15.4% from 10.3% supported a sharp rise in gross profit to RM29.38 million, up 82.6%, highlighting the group’s continued focus on execution discipline, cost management, and the revenue mix.
Looking ahead, Kinergy possesses robust multi-year earnings visibility. As of 31 December 2025, the group’s order book for the energy segment stood at approximately RM1.03 billion, with an additional RM2.24 billion in active tenders.
Kinergy’s total pipeline across both segments stands at about RM3.9 billion, providing clear multi-year earnings visibility.
