BIOENERGY-based Elridge Energy Holdings Bhd has posted a net profit of RM12.43 mil for its 2Q FY2025 ended June 30, 2025, up 6% from RM11.71 mil in the same quarter last year after accounting for taxation of RM4.11 mil.
Revenue for the quarter under review stood at RM104.14 mil which is a marginal increase from RM103.30 million in the corresponding quarter of 2024. The group’s pre-tax profit inched up slightly to RM16.54 mil from RM15.48 mil in 2Q FY2024.
On a cumulative basis, revenue for the group’s 1H FY2025 rose12.2% to RM213.81 mil (1H FY2024: RM190.59 mil) while its net profit improved by 14.8% to RM26.01 mil (1H FY2024: RM22.66 mil).
Basic earnings per share stood at 0.62 sen for 2Q FY2025 and 1.30 sen for the six-month period from 0.59 sen and 1.13 sen respectively in the previous year.
“Our 2Q FY2025 performance underscores the resilience of our operations and the sustained demand for biomass fuel products across our key export markets,” commented Elridge Energy’s executive director and CEO Oliver Yeo.
“Palm Kernel Shells (PKS) continued to anchor our business by contributing RM89.25 mil or 85.7% of revenue in 2Q FY2025 which was broadly consistent with RM88.99 mil or 86.2% a year ago.”
Such stability highlighted the strong fundamentals of Elridge’s core product line which was complemented by RM14.89 mil in wood pellet sales, according to Yeo.
“With revenue growth maintained and earnings improved year-on-year, we remain on track in delivering on our growth commitments post-listing,” he projected.
“Our capacity expansion plan is progressing as scheduled with the new facilities in Kuantan (Pahang) and Pasir Gudang (Johor) targeted for completion by this year while our Lahad Datu (Sabah) facility is slated for completion by end-FY2026.”
Each site will house two PKS production lines with a combined annual output of 240,000 metric tonnes.
“This will strengthen our ability to secure long-term export contracts and enhance our role in the regional biomass supply chain,” added Yeo.
At today’s (Aug 26) mid-day trading break, Elridge was down 0.5 sen or 0.71% to 70 sen with 1.87 million shares traded, thus valuing the company at RM1.4 bil. – Aug 26, 2025
