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Velesto Energy Berhad Full Year 2024 Earnings: EPS Beats Expectations
Velesto Energy Berhad (KLSE:VELESTO) Full Year 2024 Results
Key Financial Results
- Revenue: RM1.36b (up 12% from FY 2023).
- Net income: RM207.7m (up 109% from FY 2023).
- Profit margin: 15% (up from 8.2% in FY 2023). The increase in margin was driven by higher revenue.
- EPS: RM0.025 (up from RM0.012 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Velesto Energy Berhad EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%.
The primary driver behind last 12 months revenue was the Drilling Services segment contributing a total revenue of RM1.05b (77% of total revenue). Notably, cost of sales worth RM1.07b amounted to 79% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling RM85.5m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how VELESTO's revenue and expenses shape its earnings.
Looking ahead, revenue is expected to fall by 8.9% p.a. on average during the next 3 years compared to a 6.0% decline forecast for the Energy Services industry in Malaysia.
Performance of the Malaysian Energy Services industry.
The company's shares are down 8.6% from a week ago.
Risk Analysis
You should learn about the 3 warning signs we've spotted with Velesto Energy Berhad (including 1 which is a bit unpleasant).
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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.
About KLSE:VELESTO
Velesto Energy Berhad
An investment holding company, provides services for the upstream sector of the oil and gas industry in Malaysia and internationally.
Flawless balance sheet with solid track record and pays a dividend.
