Yinson Holdings Berhad (YINSON) Q3 2026 earnings summary

Executive summary

• Agogo FPSO achieved Provisional and Operational Readiness Certificates in Q3 FY2026, transitioning from EPC to operations and boosting contracted income by 42%.

• Revenue for the nine months ended 31 October 2025 was RM4,316 million, down 30.5% year-over-year, mainly due to lower EPCIC activity and the transition of several FPSOs to operational phase.

• Profit after tax decreased 33.6% year-over-year to RM502 million, impacted by higher administrative expenses, impairment losses in Renewables and Green Technologies, and increased finance costs.

• The Group completed its transition from EPCIC to full operations, with all FPSOs now on charter, ensuring stable long-term cash flows.

• Cumulative dividend increased to 4 sen per share, reflecting enhanced capital returns as assets become operational.

Financial highlights

• Year-to-date Q3 FY2026 revenue: RM 6,209m, down 30% year-over-year due to lower EPCIC activity and FPSO Anna Nery disposal, partially offset by new FPSO operations and a one-off gain from the FPSO Atlanta loan buy-out.

• YTD Q3 FY2026 EBITDA: RM 2,515m, up 16% year-over-year; PATAMI: RM 1,260m, up 14%.

• Gross profit for the period rose 3.2% year-over-year to RM2,480 million, despite the revenue decline.

• Net profit attributable to owners was RM455 million, down 24.9% year-over-year.

• Cash and cash equivalents at period end stood at RM2,649 million.

Outlook and guidance

• Construction of the 53 MWp Majes Phase 1 project in Peru is on schedule and within budget, targeting operational status by Q3 2026.

• The Group expects robust long-term prospects, supported by a fully operational FPSO fleet and a strong pipeline in renewables and green technologies.

• Management remains confident in delivering satisfactory results for FY2026, backed by long-term contracts and prudent risk management.

• Expected first oil for FSO Lac Da Vang and Block B FSO in upcoming quarters.