Bumi Armada Secures RM578M in FPSO Contracts, Signals Strong Upstream Stability
KUALA LUMPUR, 27 February 2026 – Bumi Armada Berhad announced a net profit of RM439.0 million for financial year 2025, down from RM634.0 million in 2024. The decline was attributed to lower contributions from the Armada Kraken FPSO and Armada Olombendo FPSO, partially offset by vessel impairment reversals and reduced finance costs.
For Q4 2025, net profit stood at RM80.1 million compared to RM96.1 million in Q3, reflecting weaker joint venture results and FPSO contributions. Revenue for FY2025 was RM1.59 billion, while operating cash flow reached RM1.04 billion, enabling debt reduction of more than 53% and a closing cash balance of RM1.32 billion.
The firm order book totaled RM7.9 billion, with extension options valued at RM8.8 billion. CEO Gary Christenson said, “I am pleased that we continued our excellent safety record of zero LTI’s for 2025… Our improving financial position enables us to actively bid for new projects and to declare an interim dividend of 1 sen per share.”
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