Integrated Annual Report 2024

109 SECTION 9: FINANCIAL REVIEW www.miscgroup.com INTEGRATED ANNUAL REPORT 2024 108 MISC BERHAD Group Financial Review Offshore The Offshore segment’s revenue of RM1,636.3 million was RM911.9 million or 35.8% lower than the previous year’s revenue of RM2,548.2 million, mainly due to lower recognition of revenue from the conversion of an FPSO following lower project progress upon achievement of its first oil in the fourth quarter during the year. The segment’s operating profit of RM51.5 million was RM600.7 million 92.1% lower than the previous year’s profit of RM652.2 million following lower project progress as well as higher cost provisions in current year. Revenue (RM million) Operating Profit (RM million) 2024 2023 2,548.2 652.2 1,636.3 51.5 2024 2023 Marine & Heavy Engineering The Marine & Heavy Engineering segment’s revenue of RM3,608.6 million was RM299.4 million or 9.0% higher than the previous year’s revenue of RM3,309.2 million, mainly due to higher revenue from ongoing projects in Heavy Engineering sub-segment and higher conversion activities in the Marine sub-segment. The segment recorded operating profit of RM141.0 million compared to operating loss of RM467.7 million in the previous year mainly due to recognition of cost recovery claims and better cost discipline. Revenue (RM million) Operating Profit/(Loss) (RM million) 2024 2023 3,309.2 3,608.6 2024 2023 (467.7) 141.0 Petroleum & Products The Petroleum & Products segment’s revenue increased slightly to RM5,044.1 million from the previous year’s revenue of RM5,030.2 million. The segment’s operating profit of RM1,482.7 million was RM126.1 million or 9.3% higher than the previous year’s profit of RM1,356.6 million, mainly from higher margin. Revenue (RM million) Operating Profit (RM million) 2024 2023 5,030.2 5,044.1 2024 2023 1,356.6 1,482.7 Financial Calendar Financial Period 1 January 2024 to 31 December 2024 Announcements of Financial Results Announcements of Tax Exempt Dividends First Quarter Financial Results Second Quarter Financial Results Third Quarter Financial Results Fourth Quarter Financial Results 30 May 2024 23 August 2024 14 November 2024 21 February 2025 1 Dividend st 30 May 2024 Announcement 27 June 2024 Paid 2 Dividend nd 23 August 2024 Announcement 26 September 2024 Paid 3 Dividend rd 14 November 2024 Announcement 17 December 2024 Paid 4 Dividend th 21 February 2025 Announcement 20 March 2025 Paid

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