Kuala lumpur: Vantris Energy Bhd's net profit saw a significant increase to RM3.73 billion for the financial year ended January 31, 2026 (FY2026), a substantial rise from RM189.53 million in FY2025. This surge was primarily driven by a one-off recognition of approximately RM4.1 billion in debt forgiveness as a result of the company's restructuring exercise.
According to BERNAMA News Agency, Vantris Energy, previously known as Sapura Energy Bhd, experienced a partial offset due to the absence of a gain on disposal of SapuraOMV Upstream Sdn Bhd, which had amounted to RM792.1 million in the previous year. Additionally, the company's operating profit decreased by 88.5 percent to RM69.70 million, as reported in its filing with Bursa Malaysia.
The company stated that its full-year earnings were impacted by a challenging project in Angola earlier in the year, although the broader portfolio remained stable. Revenue for FY2026 fell by 20.4 percent to RM3.74 billion from RM4.70 billion previously, mainly due to lower contributions from the engineering and construction (E and C) segment after the completion of major projects and reduced progress on ongoing projects.
In the fourth quarter of FY2026 (4Q FY2026), Vantris Energy's net profit decreased to RM167.04 million from RM405.68 million a year earlier. The revenue for the quarter under review also declined to RM895.92 million from RM1.19 billion, attributed to lower contributions from the E and C segment. However, this was partially mitigated by stronger performance from the drilling segment, which benefited from higher rig utilisation and improved charter rates. Revenue from the operations and maintenance (O and M) segment remained relatively stable on a quarterly basis.
In a separate statement, CEO Muhammad Zamri Jusoh noted that FY2026 marked an inflection point for the group. He highlighted that the successful completion of the financial restructuring has strengthened Vantris Energy's balance sheet, significantly reducing debt and positioning the company more robustly as it enters FY2027. The focus now shifts to disciplined execution to address substantial operational priorities.
Looking forward, Vantris Energy aims to exit its Practice Note 17 status by achieving two consecutive quarters of profitability, maintaining operational momentum, and reinforcing stakeholder confidence. The company remains committed to executing its turnaround, strengthening operational resilience, and creating long-term value for stakeholders while closely monitoring geopolitical developments, particularly the ongoing conflict in West Asia.