Uzma‘s 1Q25 Resilient Performance Backed by Diversified Portfolio

Uzma Tower

  • Revenue of 9 million with net earnings of RM 11.1 million
  • Net gearing ratio of 94 times underpinned by long-term projects in water injection facilities, well services and solar
  • 1Q25 order book stood at RM3.0 billion, with a bid book of RM5.1 billion

Uzma Berhad (“Uzma,” or “Company”) announced its unaudited first quarter financial results for the period ending 30 September 2024 (“Q1 FY2025”) here today.

The Company reported a gross profit of RM50.6 million in 1Q25 on the back of RM207.9 million in revenue, with revenue recording an increase of 37.5% or RM56.7 million over the same period in 1Q24. The net profit attributable to shareholders (PATMI) in 1Q25 stood at RM11.1 million compared to RM 11.9 million in 1Q24 Year-on-Year (“YoY”).

The increase in 1Q25 revenue was in part due to higher revenue contributions from the group’s new energy business, specifically the trading segment relating to the export of jet fuel oil. As for profitability and margins, the decrease is due to the lower profit margins of the trading business as well as lower contributions and activities from higher-margin Oil & Gas (“O&G”) products and services during the quarter under review.

Dato’ Kamarul Redzuan Muhamed, Group Chief Executive Officer, Uzma Berhad, said, “Building on a solid foundation, Uzma has weathered O&G market challenges while unlocking opportunities in emerging sectors. Our strategic wins, including the PETRONAS five-year well continuity contract and the Philippines geothermal wells drilling cementing project, pave the way for sustained growth.

“Achieving the Commercial Operation Date (“COD”) for our 50MW LSS4 solar plant marks a new era of renewable energy contributions, alongside anticipated revenue from SARA Water Injection Facility in Q3 FY2025. We are particularly excited about the upcoming launch of UzmaSAT-1, which will further diversify our portfolio, opening doors to geospatial opportunities. As we progress through FY2025, we are committed to driving innovation, sustainability, and long-term value creation.”

 

Upstream O&G Services Segment

While global petroleum demand continues to show resilience despite geopolitical tensions and heightened global oil price volatility, this dynamic, coupled with a softer demand outlook from key markets such as China and the impact of a stronger US dollar, creates a mixed but opportunity-laden landscape for the energy sector.

“In this evolving landscape, Uzma remains positive about our prospects. The Group is confident in securing new contracts and expanding its market share by prioritising operational efficiency, embracing technological innovation, and providing value-driven solutions to our clients. These strategic focuses enable Uzma to maintain a competitive edge in the sector while contributing to Malaysia’s energy and sustainability goals,” said Dato’ Kamarul.

 

New Energy Segment

 On Uzma’s New Energy segment, the Company is optimistic about the robust opportunities that lie ahead for its renewable energy business, including a growing interest among the corporate energy consumers to participate in the Corporate Renewable Energy Supply Scheme (“CRESS”) rolled out by the Ministry of Energy Transition and Water Transformation (“PETRA”) in September 2024. CRESS applies the concept of open grid access, which allows corporate companies to select their preferred electricity supplier.

Meanwhile, the Net Energy Metering (“NEM”) programme is extended to 30 June 2025, allowing Uzma to continue pursuing investment opportunities as a Registered Solar Photovoltaic Investor under commercial, industrial and government categories. The extension of the NEM programme shall also provide opportunities for the Company to undertake Engineering, Procurement, Construction and Commissioning (“EPCC”) works for other registered solar photovoltaic players.

Uzma also anticipates full revenue generation from its Uzma Kuala Muda large-scale solar farm starting 2Q25, following its successful COD on 25 September 2024. This project is set to deliver consistent contributions for years ahead.

 

Digital Earth

 Uzma is encouraged by the strong growth trajectory of our Digital Earth Division, led by Geospatial AI Sdn Bhd, as it heads into FY2025. The increasing demand for satellite-based solutions across sectors such as agriculture, plantations, security, and infrastructure monitoring continues to drive momentum. With industries prioritising wide-area monitoring and real-time data for decision-making, geospatial technology is becoming a cornerstone for operational efficiency and sustainability.

“While we anticipate the deployment of our first satellite, UzmaSAT-1, in the near future, we are already granted access to a constellation of satellites managed by our partner, Satellogic, that has allowed us to provide geospatial data analysis services to our clients. Our Uzma Digital Earth platform empowers our clients to visualise and analyse data that will enable actionable insights for more informed decision-making across industries, including agriculture, property, and many more,” said Dato’ Kamarul.

Looking ahead, Uzma remains optimistic about the continued performance of its divisions. While its O&G segment focuses on stable domestic income and international expansion, and New Energy leverages renewable energy initiatives and strategic partnerships, its Digital Earth Division is set to unlock new opportunities with advanced technologies and innovations. These combined efforts position the Group for sustainable growth and enduring success in both traditional and emerging markets.