Sapura Energy Records Massive Loss Of RM478 Million For Q1

Sapura Energy Berhad announced its financial results for the first quarter ended 30 April 2025 with the group recording a revenue of RM801 million and a loss after tax and minority interest of RM478 million.

The group said the Q1 FY2026 performance was mainly impacted by foreseeable losses relating to a challenging Engineering & Construction (“E&C”) project in Angola, along with lower activity levels across other segments.

The Drilling segment saw lower activity in Q1 FY2026, as its rigs were transitioning between projects, while activities in the Operations & Maintenance (“O&M”) segment were affected by seasonal factors.

The Group expects its financial performance to improve in the coming quarters, supported by progressive revenue recognition from ongoing E&C projects and the redeployment of drilling rigs under newly secured contracts.

Group Chief Executive Officer Muhammad Zamri Jusoh said, “This quarter reflects the timing mismatch between cost and revenue recognition, particularly in the E&C segment. What’s more important is that the underlying operations continue to deliver progress, and we expect a gradual rebound in the coming quarters.”

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