Velesto Energy Berhad (‘Velesto’ or the ‘Group’), announced its financial results for the fourth quarter (‘4Q2025’) and full financial year ended 31 December 2025 (“FY2025’), wrapping up the year with commendable performance and declaring a second interim dividend of 2.25 sen per share.
For 4Q2025, Velesto recorded revenue of RM234 million (4Q2024: RM276 million). Profit after tax (‘PAT’) was RM49 million (4Q2024: RM55 million), while EBITDA stood at RM92 million (4Q2024: RM133 million).
For FY2025, the Group recorded revenue of RM899 million (2024: RM1,360 million). Profit after tax (‘PAT’) was RM202 million (2024: RM208 million), while EBITDA stood at RM436 million (2024: RM544 million). Velesto continued to deliver higher PAT and EBITDA margin at 22% (2024: 15%) and 49% (2024: 40%) respectively.
Utilization rate was 83% (4Q2024: 82%) and average daily charter rate recorded at USD112k/day (4Q2024: USD126k/day). On a full year basis, utilization rate was 72% (2024: 87%) and average daily charter rate recorded at USD118k/day (2024: USD122k/day).
Megat Zariman Abdul Rahim, President of Velesto, said, “We are pleased to close FY2025 with a solid performance and declared a second interim dividend of 2.25 sen per share, with a total of 3 sen per share for FY2025, the highest in Velesto’s history, in line with our commitment to deliver returns to shareholders. The divestment of NAGA 3 and the hydraulic workover business was part of our ongoing portfolio optimization to strengthen our core offerings.
Looking ahead, we will continue to focus on strengthening our core jack-up drilling operations, enhancing operational excellence and reinforcing cost discipline across the Group. By maintaining financial prudence and capital efficiency, we aim to deliver sustainable returns to our shareholders while positioning Velesto for long-term resilience and growth.”
As at February 2026, Velesto’s order book stood at RM1.3 billion supported by a healthy tender book of RM3.7 billion.
