Sapura Energy Bhd.

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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. operates as an investment holding company. It engages in the provision of oil and gas services and solutions. The firm operates through the following segments: Engineering and Construction, Drilling, Exploration and Production and Corporate. Its services include offshore Construction & 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 2020	MYR	USD
Revenue	6,449.15M	1,557.87M
Gross Profit	-492.36M	-118.93M
Operating income	-813.06M	-196.40M
Income before tax	-4,706.74M	-1,136.97M
Net income	-4,560.80M	-1,101.72M
EBITDA	-288.14M	-69.60M
Diluted EPS	-0.28	-0.06
Dividends Per Share	0	0
Total Assets	22,748.34M	5,551.08M
Total liabilities	13,573.67M	3,312.26M
Total equity	9,182.52M	2,240.73M
Operating cash flow	-424.06M	-102.43M
	Currency in MYR	Currency in USD

Historical Data

MYR | USD

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020
Revenue	10,184.03M	7,651.32M	5,050.64M	4,568.43M	6,449.15M
Gross Profit	2,532.73M	1,664.99M	603.44M	231.67M	-492.36M
Operating income	1,860.95M	1,116.36M	174.41M	-265.17M	-813.06M
Income before tax	-712.63M	385.24M	-2,550.37M	-2,574.90M	-4,706.74M
Net income	-791.55M	208.31M	-2,724.53M	-2,713.46M	-4,560.80M
EBITDA	3,297.38M	2,333.80M	1,026.75M	417.35M	-288.14M
Diluted EPS	-0.13	0.03	-0.42	-0.40	-0.28
Dividends Per Share	0.01	0.01	0	0	0
Total Assets	36,491.99M	37,449.26M	29,992.76M	33,576.26M	22,748.34M
Total liabilities	24,278.98M	24,368.95M	20,542.40M	19,705.02M	13,573.67M
Total equity	12,206.95M	13,076.11M	9,449.96M	13,875.06M	9,182.52M
Operating cash flow	2,181.30M	2,776.83M	866.22M	-453.99M	-424.06M

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020
Revenue	2,565.13M	1,842.49M	1,186.37M	1,128.19M	1,557.87M
Gross Profit	637.94M	400.94M	141.74M	57.21M	-118.93M
Operating income	468.73M	268.82M	40.96M	-65.48M	-196.40M
Income before tax	-179.49M	92.77M	-599.07M	-635.87M	-1,136.97M
Net income	-199.37M	50.16M	-639.98M	-670.09M	-1,101.72M
EBITDA	830.53M	561.99M	241.18M	103.06M	-69.60M
Diluted EPS	-0.03	0.00	-0.09	-0.10	-0.06
Dividends Per Share	0.00	0.00	0	0	0
Total Assets	8,782.66M	8,454.51M	7,694.89M	8,197.33M	5,551.08M
Total liabilities	5,843.31M	5,501.51M	5,270.32M	4,810.79M	3,312.26M
Total equity	2,937.89M	2,952.05M	2,424.46M	3,387.46M	2,240.73M
Operating cash flow	549.42M	668.68M	203.47M	-112.11M	-102.43M

Valuation Measures

Jan 2020
PER	--
ROA	-16.19%
ROE	-39.56%
Operating margin	-12.60%
Profit margin	-70.71%

Key executives

President, Group CEO & Executive Director: Shahril bin Shamsuddin
Senior Vice President-Operations: Ahmad Zakiruddin Mohamed
Group Chief Financial Officer: Reza bin Abdul Rahim
SVP-Exploration & Production: Kris Azman
SVP-Financial Advisory & Portfolio Planning: Mei Mei Chow

Shareholders

Permodalan Nasional Bhd. (38.1%)
Sapura Holdings Sdn. Bhd. (12.8%)
Kumpulan Wang Persaraan (2.7%)
Jurudata Sdn. Bhd. (1.9%)
The Vanguard Group, Inc. (1.8%)
BlackRock Investment Management (UK) Ltd. (1.7%)
Bumiputra Investment Foundation (1.3%)
Norges Bank Investment Management (1.2%)
BIN SHAMSUDDIN SHAHRIL (1.0%)
Dimensional Fund Advisors LP (0.9%)

Contact Details

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

Related Companies

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SapuraKencana Australia Pty Ltd.
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SapuraCrest Ventures Sdn. Bhd.
Sapura Petroleum Sdn. Bhd.
Crest Marine Engineering Sdn. Bhd.
Newfield Malaysia Holding Inc.
Sapurakencana Drilling Pte. Ltd.
Sapura TMC Sdn. Bhd.
Geomark Sdn. Bhd.
Momentum Energy Sdn. Bhd.
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Kencana Energy Bhd.
Kencana Bestwide Sdn. Bhd.
Sapurakencana TL Offshore Sdn. Bhd.
TL Geosciences Sdn. Bhd.
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Kencana HL Sdn. Bhd.
SapuraKencana Nautical Essence Sdn. Bhd.

Competitors

Coro Energy Plc

Last Updated on 10 Aug, 2020