PETALING JAYA: Yinson Holdings Bhd’s net profit for the second quarter ended July 31, 2026 (Q2’FY27) rose 26.7% to RM128 million from RM101 million a year earlier, despite lower revenue due to the absence of engineering, procurement, construction, installation and commissioning (EPCIC) activities.
According to a filing with Bursa Malaysia, revenue for the quarter fell 16.7% to RM1.14 billion from RM1.36 billion previously, mainly due to lower EPCIC contribution based on the progress of construction.
This was partially offset by higher contribution from its floating production, storage and offloading (FPSO) operations following the commencement of the Agogo FPSO’s charter period in August 2025.
The higher net profit was mainly due to the absence of a one-off charge related to remaining deferred financing costs arising from the refinancing of FPSO Maria Quitéria’s existing project financing loan into a US$1.168 billion project bond issued in July 2025. This was partly offset by lower revenue and higher tax expenses.
For the six months ended July 31, 2026, Yinson’s net profit rose 14.8% to RM248 million from RM216 million, while revenue declined 15.8% to RM2.19 billion from RM2.59 billion.
The group’s offshore production segment recorded revenue of RM2.07 billion for the six-month period, down from RM2.49 billion previously, while segment results declined to RM1.12 billion from RM1.24 billion, mainly due to lower EPCIC contribution.
Its renewables segment recorded a higher profit of RM21 million compared with RM18 million previously, while Green Technologies swung to a profit of RM12 million from a loss of RM46 million, mainly due to lower operating costs following the disposal of certain non-core businesses in the previous financial year. Other Operations narrowed its loss to RM51 million from RM92 million.
Yinson said joint ventures and associates contributed RM135 million in profit for the six-month period, up from RM120 million a year earlier, mainly due to higher construction progress for the Block B FSO, which commenced EPCIC activities in Q4’FY26.
On a sequential basis, Q2 revenue rose 8.3% from RM1.05 billion in Q1’FY27, mainly due to the annual charter rate escalation on the finance lease for FPSO Maria Quitéria and a higher number of operating days. EBITDA increased 8.8% to RM665 million.
Yinson also declared a quarterly interim single-tier dividend of one sen per share for FY27, amounting to approximately RM29 million. This brings total dividends declared for FY27 to date to three sen per share.
The group generated RM1.18 billion in net cash from operating activities during the six-month period, compared with a net cash outflow of RM184 million a year earlier, largely reflecting higher finance lease payments received.
As at July 31, 2026, Yinson had total assets of RM29.27 billion, compared with RM29.18 billion as at Jan 31, 2026, while total liabilities stood at RM18.37 billion, down from RM19.94 billion.
Separately, Yinson said FSO PTSC Lac Da Vang arrived at the Lac Da Vang field offshore Vietnam on Aug 7 and is undergoing final commissioning, with first oil expected in Q4’26.
Its Green Technologies business also secured two commercial contracts for fully electric vessels Hydromover 1 and 2, while chargEV launched what Yinson described as Malaysia’s largest AC charging hub at Menara Merdeka 118.
