Kuala Lumpur: Yinson Holdings Bhd’s net profit declined to RM683 million for the financial year ended Jan 31, 2026 (FY2026) from RM1.24 billion in FY2025.
The logistics company said in a Bursa Malaysia filing that the decrease in profit was mainly due to lower contribution from engineering, procurement, construction, installation, and commissioning (EPCIC) activities, as well as higher administrative expenses following its transition from a capital expenditure (Capex)-intensive EPCIC phase to an operational phase.
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The lower profit was further impacted by impairment losses recognised for its renewables and green technologies segments, as well as the absence of one-off gains recorded in the fourth quarter (4Q) of the financial year 2025, including disposal gains and tax credits.
Meanwhile, revenue also fell to RM5.44 billion in FY2026 from RM7.60 billion in FY2025, driven by its offshore production that recorded a lower contribution from EPCIC activities as its floating production, storage, and offloading (FPSO) vessels, such as FPSO Maria Quiteria, FPSO Atlanta, and the Agogo FPSO, commenced their charter periods.
This was partially offset by the upfront recognition of the gain arising from the buy-out of the project loan relating to FPSO Atlanta of RM340 million in 3QFY2026 and higher contribution from the operations of FPSO Maria Quiteria, FPSO Atlanta and the Agogo FPSO upon commencement of their respective charter periods on Oct 15, 2024, Dec 31, 2024 and August 12, 2025, respectively.
In 4QFY2026, the company’s net profit decreased to RM228 million from RM643 million in the previous year, due to lower revenue and higher administrative expenses recognised in the current quarter.
Revenue edged down to RM1.12 billion from RM1.39 billion in the same period previously, due to lower contribution from EPCIC activities, as the Agogo FPSO commenced its charter period on Aug 12, 2025 (3QFY2026) and the absence of the one-off gain from the buy-out of the project loan relating to FPSO Atlanta.
The group said that the global energy system is undergoing a structural transition that reinforces sustained demand for both oil and gas production, while accelerating investment in renewable energy sources.
“In the near term, factors such as geopolitical volatility, energy security concerns, access to capital and capital discipline among oil majors are further extending the runway for oil and gas.
“This structural shift, marked by net additions in both fossil and renewable sources, is driving growth across all our businesses and sustaining a robust outlook for the group,” said Yinson.
The long-term trajectory of the global energy system toward renewables, electrification and decarbonisation continues to drive the group’s other engines of growth.
“Yinson Renewables and Yinson GreenTech are well-positioned to participate in this long-term opportunity, especially across strategic markets of Asia Pacific, Europe and Latin America, providing the group with meaningful and strategic optionality as energy transition markets mature,” said Yinson.
