Yinson’s 3Q net profit rises 19.5%, declares 1 sen dividend

KUALA LUMPUR: Yinson Holdings Bhd, which posted a 19.5% increase in net profit for the third quarter ended Oct 31 (3Q26), has declared a dividend of 1.0 sen per share.

The floating production storage and offloading (FPSO) vessels operator said the dividend amounts to RM29 mil, with the entitlement and payable dates set for Feb 5, 2026 and March 2, 2026, respectively.

In 3Q26, Yinson posted a net profit of RM239mil, or earnings per share of 4.80 sen, up from RM200mil or 6.20 sen in 3Q24.

Quarterly revenue, however, fell 7.1% to RM1.72bil against RM1.85bil a year ago.

In the nine months to Oct 31, Yinson posted a net profit of RM455mil, down 24.9% from RM606mil, while revenue tumbled 30.5% to RM4.3bil versus RM6.2bil previously.

Yinson said the lower revenue was mainly due to reduced contributions from engineering, procurement, construction, installation and commissioning activities, in line with construction progress, as FPSO Maria Quitéria, FPSO Atlanta and the Agogo FPSO commenced their charter periods on Oct 15, 2024 (3Q25), Dec 31, 2024 (4Q25) and Aug 12, 2025 (3Q26), respectively.

Yinson said the group’s Ebitda declined by 14% to RM2.17bil, mainly due to higher administrative expenses as it transitioned from a capital expenditure-intensive engineering, procurement, construction, installation and commissioning phase to an operational phase, as well as impairment losses recognised in the Renewables and Green Technologies segments.

Group executive chairman Lim Han Weng said Yinson Production achieved steady income growth in Q326, supported by strong project delivery and stable operations.

He added that the achievement of the operational readiness certificate for the Agogo FPSO contributed significantly to the group’s solid quarterly financial performance.

“Yinson GreenTech launched the next generation Hydromover 2.0 and signed bareboat charter agreements with Yacht International – marking its foray into the Middle East. Yinson GreenTech also announced its collaboration with PLUS Malaysia Berhad to introduce Malaysia’s first Integrated EV Charging Hub at Seremban R&R.

“Meanwhile, Yinson Renewables recorded an important milestone as it received approval from New Zealand’s Overseas Investment Office, enabling us to expand our renewable energy footprint, further contributing to the country’s energy mix demands,” he said in a statement.