33 INTEGRATED ANNUAL REPORT 2025 LEADERSHIP MESSAGES | FINANCE AND STRATEGY REVIEW FY2025 FY2024 Change % Financial Indicators Return on equity 20.2% 14.3% 5.9% 41.3% Current ratio (times) 1.58 1.05 0.53 50.5% Gross gearing (times) - Total borrowings 2.04 2.05 -0.01 -0.5% - Excluding non-recourse project financing loans 1.26 1.52 -0.26 -17.1% Net gearing (times) - Total borrowings 1.69 1.66 0.03 1.8% - Excluding non-recourse project financing loans 0.91 1.13 -0.22 -19.5% Net debt/EBITDA ratio (times) 4.12 4.43 -0.31 -7.0% Q1 FY2025 RM million Q2 FY2025 RM million Q3 FY2025 RM million Q4 FY2025 RM million Snapshot of quarterly announced results for FY2025 Revenue 2,214 2,142 1,853 1,396 Cost of sales 1,383 1,257 1,167 1,074 Gross profit 831 885 686 322 EBITDA 821 869 825 719 Profit before tax 357 333 297 133 Profit after tax 249 263 244 829 PATAMI 203 203 200 643 FY2025 RM million FY2024 RM million Change RM million % Operating Results by Segment Offshore Production and Offshore Marine 2,982 2,823 159 5.6% Renewables 7 (41) 48 -117.1% Green Technologies (192) (23) (169) 734.8% Other Operations 38 (110) 148 -134.5% Share of results of joint ventures and associates 21 9 12 133.3% * Refer to definition of Adjusted Enterprise Reporting EBITDA on pg 36. Revenue and Profitability Revenue Group Revenue (RM million) FY2025 7,605 FY2024 11,646 FY2023 6,324 FY2022 3,607 FY2021 4,849
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