Sapura Energy Bhd.

In the news

Glove makers and net stocks see COVID-19 boom in bear market Jul 1, 2020
Asian equities jump as crude oil rebound lifts energy stocks Mar 10, 2020
Asian stocks skid amid crude oil rout, virus fears Mar 9, 2020
Sapura Energy's net loss widens, warns of challenging times Dec 5, 2019
Blurry turnaround prospects weigh on Sapura Energy Sep 30, 2019

Company Background

Sapura Energy is an upstream player in the oil and gas industry, providing an entire value chain of exploration, development, production, rejuvenation and decommissioning services. The Malaysian company was born out of a merger between SapuraCrest Petroleum and Kencana Petroleum in 2011. SapuraKencana's core businesses are divided into offshore construction and subsea services (OCSS), fabrication, hookup and commissioning, and drilling and energy services.

OCSS involves the construction of offshore platforms and marine pipelines for oil exploration, which are supported by huge support vessels. OCSS contributes most in revenue to the group, at over 40%. The group has a presence in over 20 countries and a workforce of 12,000. As of January 2014, 70% of the group's order book came from Brazil, Southeast Asia, Australia and Africa. SapuraKencana undertakes contracts from major oil and gas players such as Chevron, Royal Dutch Shell and Malaysia's state-owned Petronas.

Two of its major shareholders are President and Group CEO Shahril Shamsuddin and Vice Chairman Mokhzani Mahathir, who both managed SapuraCrest and Kencana before the merger. Mokhzani is a son of former Prime Minister Mahathir bin Mohamad.

Business Summary

Sapura Energy Bhd. is an investment holding company, which engages in the provision of oil and gas services and solutions. The firm operates through the following segments: Engineering and Construction, Operations and Maintenance, Drilling, Exploration and Production and Corporate. The Engineering and Construction segment provides end-to-end turnkey engineering, procurement, construction, installation, and commissioning solutions for the energy industry. The Operations and Maintenance segment offers a service suite for onshore plant maintenance and offshore support. The Drilling segment operates a fleet of tender-assist drilling rigs. The Exploration and Production segment provides exploration, development, and production solutions. Its services include offshore Construction and Installation, Brownfield Rejuvenation, Subsea Services, Offshore Support Vessels, Tender Assist Rigs and Semi-Tender Rigs. The company was founded on June 30, 2011 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Jan 2022	MYR	USD
Revenue	4,100.22M	986.33M
Gross Profit	-1,043.93M	-251.12M
Operating income	-1,386.16M	-333.44M
Income before tax	-8,911.91M	-2,143.81M
Net income	-9,050.63M	-2,177.18M
EBITDA	-863.54M	-207.73M
Diluted EPS	-0.56	-0.13
Dividends Per Share	0	0
Total Assets	16,068.75M	3,839.14M
Total liabilities	15,990.76M	3,820.51M
Total equity	84.97M	20.30M
Operating cash flow	100.67M	24.21M
	Currency in MYR	Currency in USD

Historical Data

MYR | USD

	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022
Revenue	5,050.64M	4,568.43M	6,449.15M	5,347.82M	4,100.22M
Gross Profit	603.44M	231.67M	-492.36M	617.33M	-1,043.93M
Operating income	174.41M	-265.17M	-813.06M	293.17M	-1,386.16M
Income before tax	-2,550.37M	-2,574.90M	-4,706.74M	-190.55M	-8,911.91M
Net income	-2,724.53M	-2,713.46M	-4,560.80M	-160.87M	-9,050.63M
EBITDA	1,026.75M	417.35M	-288.14M	836.69M	-863.54M
Diluted EPS	-0.42	-0.40	-0.28	-0.01	-0.56
Dividends Per Share	0	0	0	0	0
Total Assets	29,992.76M	33,576.26M	22,748.34M	22,665.10M	16,068.75M
Total liabilities	20,542.40M	19,705.02M	13,573.67M	13,728.35M	15,990.76M
Total equity	9,449.96M	13,875.06M	9,182.52M	8,945.57M	84.97M
Operating cash flow	866.22M	-453.99M	-424.06M	-239.27M	100.67M

	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022
Revenue	1,186.37M	1,128.19M	1,557.87M	1,273.26M	986.33M
Gross Profit	141.74M	57.21M	-118.93M	146.98M	-251.12M
Operating income	40.96M	-65.48M	-196.40M	69.80M	-333.44M
Income before tax	-599.07M	-635.87M	-1,136.97M	-45.36M	-2,143.81M
Net income	-639.98M	-670.09M	-1,101.72M	-38.30M	-2,177.18M
EBITDA	241.18M	103.06M	-69.60M	199.21M	-207.73M
Diluted EPS	-0.09	-0.10	-0.06	-0.00	-0.13
Dividends Per Share	0	0	0	0	0
Total Assets	7,694.89M	8,197.33M	5,551.08M	5,606.70M	3,839.14M
Total liabilities	5,270.32M	4,810.79M	3,312.26M	3,396.00M	3,820.51M
Total equity	2,424.46M	3,387.46M	2,240.73M	2,212.88M	20.30M
Operating cash flow	203.47M	-112.11M	-102.43M	-56.96M	24.21M

Valuation Measures

Jan 2022
PER	--
ROA	-46.73%
ROE	-200.44%
Operating margin	-33.80%
Profit margin	-220.73%

Key executives

Group CEO & Non-Independent Executive Director: Muhammad Anuar bin Taib
Chief Executive Officer-Operation & Maintenance: Mohamad Nasri bin Mehat
Group Chief Financial Officer: Seng Heng Chew
Group Head-Legal & Compliance: Nik Azli Abu Zahar
CEO-Drilling Business & SVP-Group HSE: Raphael Siri

Shareholders

Permodalan Nasional Bhd. (39.5%)
Sapura Holdings Sdn. Bhd. (10.8%)
Kumpulan Wang Persaraan (2.8%)
Jurudata Sdn. Bhd. (1.9%)
BIN SHAMSUDDIN SHAHRIL (1.0%)
Dimensional Fund Advisors LP (0.7%)
BlackRock Investment Management (UK) Ltd. (0.5%)
CHAI KIN LOONG (0.5%)
Keen Capital Investments Ltd. (0.5%)
TAN YU WEI (0.3%)

Contact Details

Website:http://www.sapuraenergy.com
Address: Mines Resort City, No. 7, Jalan Tasik, Kuala Lumpur, 43300, Malaysia
Phone: +60.3.8659.8800

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Competitors

Deleum Bhd.

Last Updated on 30 Jan, 2023