KUALA LUMPUR: Avangaad Bhd announced its results for the third quarter (Q3) ended September 30, 2025 (FY25), highlighting stable underlying performance and strengthening long-term earnings visibility supported by continued contract momentum across its fast crew boat (FCB) and tugboat segments.
For Q3 FY25, the group recorded revenue of RM33.5 million, a 6% increase from RM31.6 million in the same quarter last year, driven by higher vessel utilisation and improved charter rates for FCB contracts.
On a cumulative nine-month basis, revenue rose to RM95.7 million, compared to RM93.4 million in the previous year.
Due to the significant one-off non-cash income of RM175.9 million recognised in 9M2024 related to the PN17 regularisation plan and Scheme of Arrangement (SOA), year-on-year net profit comparisons are not reflective of operational performance.
Excluding one-off items, Avangaad delivered a solid operating cash flow of RM42.7 million for 9M2025, a major turnaround from the net outflow recorded in 9M 2024.
This improvement was driven by healthier vessel deployment, disciplined working capital management, and a more streamlined cost structure following the completion of the regularisation plan.
The interim idle gaps between the conclusion of older FCB contracts and the start-up of new charters in early 2025 have not caused any notable effect on the group’s operational activities or economic results.
As of September 30, 2025, Avangaad’s order book stood at RM163.8 million in firm contract value and RM247.4 million in optional contract extensions, bringing the total order book and extension potential to RM411.2 million.
Year-to-date, Avangaad secured three FCB contracts worth RM29.2 million, RM66.8 million in new and extended tugboat charters from Northport, and RM19.0 million in additional tugboat contract extensions in Q3 FY25.
These wins will continue contributing positively to earnings for FY25 and beyond.
Executive director Datuk Wira Mubarak Hussain Akhtar Husin said resilience built on long-term strength continues to anchor the company’s operations.
“With core earnings holding steady, and with new talent joining the team, we are entering the next phase of growth with confidence and clarity. We know where we stand, and more importantly, where we are heading.
“This quarter, we achieved stronger vessel utilisation, supported by new contract wins across both our FCBs and tugboats. In this industry, technical capability alone is not enough. What truly differentiates us is disciplined execution and the trust our clients place in us to deliver — consistently, safely, and at the level of reliability they expect.
“As the Marine COP, we take pride in being a partner our clients can depend on. Through coordinated operations, sharp operational oversight, and relationships strengthened over the years, we continue to build a marine division that stands firm in all market conditions. Our team remains committed, capable, and ready as we strategically expand our capacity to capture future opportunities,” he said in a statement.
Avangaad maintains a constructive outlook for the marine logistics sector, supported by strong upstream activity levels, sustained demand for crew transfer and port marine services, consistent utilisation across its diversified fleet, and disciplined cost and cash management.
The group continues to prioritise contract renewal, operational optimisation, and targeted fleet deployment while actively pursuing new opportunities across the oil & gas (O&G) and non-O&G markets.
With resilient core earnings, a robust order book, and a well-defined growth strategy, Avangaad is well-positioned to deliver stable, long-term value to shareholders.
