Armada Latest QR Summary
Bumi Armada Berhad announced the unaudited consolidated financial statements for the second quarter of 2024.
✅ - Revenue for the second quarter of 2024 was 578,859,000 ringgit, an increase of 31% compared to the second quarter of 2023. The revenue for the second quarter of 2024 was lower than the first quarter of 2024, mainly due to no one-time revenue gains.
✅ - Reduced cost of sales, leading to 165% increase in gross profit.
- Operating profit before impairment was RM315,063,000.
- The depreciation was transferred back to 660,000 ringgit.
- Operating profit was RM315,723,000.
- The financial fee is RM77,458,000.
- Joint ventures and associated companies had a performance share of RM31,968,000.
- Profit before tax was RM270,233,000.
- The tax is 18,000 ringgit. Net profit after tax was consistent with the first quarter of 2024.
- Profit for the financial period was MYR 268,455,000
。
- 265,958,000 ringgit attributable to the company's owners.
- Non-controlling interest is LM2,497,000.
- Other comprehensive income for the financial period was RM27,623,000.
- Total comprehensive income for the financial period was RM240,832,000.
✅ - As of June 30, 2024, total assets were 11,460,930,000 ringgit, an increase of 3% compared to December 31, 2023.
✅ - Total debt was 5,215,063,000, a decrease of 6%.
- Net worth is 6,245,867,000 ringgit.
✅ - Since the beginning of 2024, the net cash flow from operating activities has been higher than in early 2023 to date.
- Strong cash flow from operating activities was 0.6193 billion ringgit.
- After paying off the debt of $59 million, the cash balance was 1.2143 billion ringgit.
- Net current liabilities are 0.7873 billion ringgit due to certain classifications.
- Sukuk Murabahah will be refunded through a new 6-year financing.
- Due to FPSO's achievements, future orders will be determined at 12.1 billion ringgit, with an optional extension of up to 10.9 billion ringgit.
✅ - The CEO commented on strong cash generation and balance sheet improvements.
⚠️ Investment conclusion:
Based on this information alone, it's hard to decide if it's worth the investment. There are positive aspects such as strong cash flow, refinancing plans, and increased orders.
✅ - Revenue for the second quarter of 2024 was 578,859,000 ringgit, an increase of 31% compared to the second quarter of 2023. The revenue for the second quarter of 2024 was lower than the first quarter of 2024, mainly due to no one-time revenue gains.
✅ - Reduced cost of sales, leading to 165% increase in gross profit.
- Operating profit before impairment was RM315,063,000.
- The depreciation was transferred back to 660,000 ringgit.
- Operating profit was RM315,723,000.
- The financial fee is RM77,458,000.
- Joint ventures and associated companies had a performance share of RM31,968,000.
- Profit before tax was RM270,233,000.
- The tax is 18,000 ringgit. Net profit after tax was consistent with the first quarter of 2024.
- Profit for the financial period was MYR 268,455,000
。
- 265,958,000 ringgit attributable to the company's owners.
- Non-controlling interest is LM2,497,000.
- Other comprehensive income for the financial period was RM27,623,000.
- Total comprehensive income for the financial period was RM240,832,000.
✅ - As of June 30, 2024, total assets were 11,460,930,000 ringgit, an increase of 3% compared to December 31, 2023.
✅ - Total debt was 5,215,063,000, a decrease of 6%.
- Net worth is 6,245,867,000 ringgit.
✅ - Since the beginning of 2024, the net cash flow from operating activities has been higher than in early 2023 to date.
- Strong cash flow from operating activities was 0.6193 billion ringgit.
- After paying off the debt of $59 million, the cash balance was 1.2143 billion ringgit.
- Net current liabilities are 0.7873 billion ringgit due to certain classifications.
- Sukuk Murabahah will be refunded through a new 6-year financing.
- Due to FPSO's achievements, future orders will be determined at 12.1 billion ringgit, with an optional extension of up to 10.9 billion ringgit.
✅ - The CEO commented on strong cash generation and balance sheet improvements.
⚠️ Investment conclusion:
Based on this information alone, it's hard to decide if it's worth the investment. There are positive aspects such as strong cash flow, refinancing plans, and increased orders.
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