Velesto recorded revenue of RM200 million (1Q2025: RM225 million) with profit after tax (‘PAT’) of RM50 million (1Q2025: RM53 million), and EBITDA of RM116 million (1Q2025: RM113 million). Profitability strengthened, with PAT margin rising to 25% (1Q2025: 24%) and EBITDA margin at 58% (1Q2025: 50%).

During the quarter, utilisation rate stood at 57% (1Q2025: 67%), while daily charter rate (‘DCR’) recorded at USD123k/day (1Q2025: USD127k/day).

The Group has declared an interim dividend of 0.75 sen per share in respect of FY2025, payable on 18 November 2025. Velesto also completed its capital reduction exercise on 14 August 2025, strengthening its capital structure to support shareholder returns.

Megat Zariman Abdul Rahim, President of Velesto, said, “Velesto continues to deliver strongly every quarter, supported by our current order book and a disciplined cost management. This reflects the resilience of our portfolio and our ability to secure work in a more dynamic market environment. We remain anchored in driving performance through cost optimization, operational efficiency, and a strong financial position, which support sustainable shareholder returns and long-term value creation.”

As at July 2025, Velesto’s order book stood at RM1.2 billion, providing earnings visibility until 2028 with a tender book of RM4.3 billion

Velesto continues to uphold operational excellence, achieving above 99% operating efficiency with zero Lost Time Injury. Notable highlights include the completion of the Special Periodic Survey (‘SPS’) for NAGA 8 and the installation of a robotic arm on NAGA 6. Five (5) out of six (6) of Velesto’s rigs are currently on charter.