PETALING JAYA: Velesto Energy Bhd recorded revenue of RM234 million for the fourth quarter ended Dec 31, 2025 (Q4’25), slightly lower than the RM276 million posted in the corresponding quarter last year.
Profit after tax (PAT) was RM49 million from RM55 million posted in Q4’24, while Ebitda stood at RM92 million, lower than RM133 million in the previous year’s fourth quarter.
For FY25, the group recorded revenue of RM899 million, a 33.9% decline from RM1.36 billion in FY24. PAT was RM202 million from RM208 million, while Ebitda stood at RM436 million from RM544 million in FY24.
Velesto continued to deliver higher PAT and Ebitda margins at 22% and 49%, respectively, compared to 15% and 40%.
The board has declared a second interim dividend of 2.25 sen per share.
Utilisation rate for Q4’25 was 83%, compared to 82% in Q4’24, and the average daily charter rate was US$112k/day, compared to US$126k/day in Q4’24.
On a full-year basis, the utilisation rate was 72%, compared to 87% in 2024, and the average daily charter rate was US$118k/day, compared to US$122k/day last year.
Velesto president Megat Zariman Abdul Rahim said the group closed FY25 with a solid performance and declared a second interim dividend of 2.25 sen per share, with a total of 3 sen per share for FY25, the highest in Velesto’s history, in line with its commitment to deliver returns to shareholders.
“The divestment of NAGA 3 and the hydraulic workover business was part of our ongoing portfolio optimisation to strengthen our core offerings.
“Looking ahead, we will continue to focus on strengthening our core jack-up drilling operations, enhancing operational excellence and reinforcing cost discipline across the group. By maintaining financial prudence and capital efficiency, we aim to deliver sustainable returns to our shareholders while positioning Velesto for long-term resilience and growth,” he said in a statement.
As of February, Velesto’s order book stood at RM1.3 billion, supported by a healthy tender book of RM3.7 billion.
