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4-Traders Homepage  >  Equities  >  BURSA MALAYSIA  >  Sapura Energy Bhd    SAEN   MYL5218OO002

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Sapura Energy Bhd : Malaysia's Sapura Energy 1st-Quarter Profit Falls 75%

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06/19/2017 | 12:09pm CEST

By Yantoultra Ngui

KUALA LUMPUR, Malaysia--Sapura Energy Bhd. (5218.KU), Malaysia's largest oil-and-gas services firm by market value, said Monday its net profit for the first quarter ended April dropped 75% on-year mainly due to lower revenue, and higher taxes and finance costs.

Net profit for the February-April period declined to MYR27.53 million ($6.44 million) from MYR110.31 million the same quarter a year ago, according to a local stock-exchange filing.

Revenue declined 8.9% to MYR1.77 billion during the quarter from MYR1.94 billion a year ago, mainly dragged down by lower sales at its drilling and exploration, and production business divisions, according to the filing.

Moving forward, Sapura Energy said the outlook for crude-oil prices remains uncertain.

"The trend of prolonged low levels of capital spending is expected to continue and poses significant challenges to the industry," it said in notes accompanying its financial statements.

Sapura Energy said its board expected the challenging environment to persist in the short and medium term, but was confident that its plans that have been put in place will help it navigate through this period.

Shares of Sapura Energy ended Monday 0.5% higher at MYR1.85 before the earnings release. Shares of the company have climbed some 14% year-to-date.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

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Financials ( MYR)
Sales 2019 6 531 M
EBIT 2019 480 M
Net income 2019 -46,3 M
Debt 2019 14 773 M
Yield 2019 0,50%
P/E ratio 2019 -
P/E ratio 2020 36,82
EV / Sales 2019 2,96x
EV / Sales 2020 2,60x
Capitalization 4 586 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 0,90  MYR
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Shahril bin Shamsuddin President, Group CEO & Executive Director
Ahmad Zakiruddin Mohamed Senior Vice President-Operations
Reza Abdul Rahim Chief Financial Officer
Hamid bin Bugo Senior Independent Non-Executive Director
Shahriman bin Shamsuddin Non-Independent Non-Executive Director
Sector and Competitors
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