TAS Offshore Berhad Full Year 2024 Earnings: Misses Expectations

Simply Wall St

September 30, 2024

TAS Offshore Berhad (KLSE:TAS) Full Year 2024 Results

Key Financial Results

Revenue: RM72.4m (up 100% from FY 2023).
Net income: RM9.66m (down 37% from FY 2023).
Profit margin: 13% (down from 42% in FY 2023). The decrease in margin was driven by higher expenses.
EPS: RM0.054 (down from RM0.085 in FY 2023).

revenue-and-expenses-breakdown — KLSE:TAS Revenue and Expenses Breakdown September 30th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

TAS Offshore Berhad Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 23%.

The primary driver behind last 12 months revenue was the Indonesia segment contributing a total revenue of RM60.9m (84% of total revenue). Notably, cost of sales worth RM55.9m amounted to 77% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to RM5.63m (82% of total expenses). Explore how TAS's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Malaysia.

Performance of the Malaysian Machinery industry.

The company's shares are down 1.5% from a week ago.

Risk Analysis

You should learn about the 4 warning signs we've spotted with TAS Offshore Berhad (including 1 which is significant).

Valuation is complex, but we're here to simplify it.

Discover if TAS Offshore Berhad might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.