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

SAPURA ENERGY BHD (SAEN)

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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 2018 7 066 M
EBIT 2018 865 M
Net income 2018 267 M
Debt 2018 11 700 M
Yield 2018 0,53%
P/E ratio 2018 35,50
P/E ratio 2019 22,25
EV / Sales 2018 2,99x
EV / Sales 2019 2,46x
Capitalization 9 408 M
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Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 1,90  MYR
Spread / Average Target 21%
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Managers
NameTitle
Shahril bin Shamsuddin President, Group CEO & Executive Director
Hamzah bin Bakar Non-Independent Non-Executive Chairman
Ahmad Zakiruddin Mohamed Senior Vice President-Operations
Reza Abdul Rahim Chief Financial Officer
Hamid bin Bugo Senior Independent Non-Executive Director
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