BIOENERGY-based Elridge Energy Holdings Bhd has dished out a strong 1Q FY2026 ended Mar h 31, 2026 with its net profit spiked 31% year-on-year (yoy) to RM17.77 mil (1Q FY2025: RM13.58 mil) as is revenue firmed 19% yoy to RM130.79 mil (1Q FY2025: RM109.67 mil).
The group’s basic earnings per share stood at 0.89 sen for during the period under review against 0.68 sen in the corresponding period last year.
“Our 1Q FY2026 performance reflects a positive continuation of the momentum we built throughout FY2025, supported by resilient demand for biomass fuel products across our key regional markets,” commented Elridge Energy’s executive director and CEO Oliver Yeo.
“Higher palm kernel shell (PKS) sales volume combined with improved product margins demonstrate the scalability of our business model as we continue to benefit from the growing adoption of renewable and lower-carbon fuel alternatives.”
Yeo went on to stress that Elridge Energy “is entering an important phase of our production capacity build-out” with its Kuantan facility and the Pasir Gudang plant now fully operational while its existing facilities in Selangor continue to reflect the strength of underlying demand.
“As new capacity comes online, we’re well-positioned to fulfil growing commitments from our regional customers, particularly in Japan and Thailand, and to deepen our presence in markets that are actively accelerating their energy transition,” he enthused.
Steady PKS demand
PKS remained the group’s primary revenue contributor by having generated RM127.28 mil in its 1Q FY2026 from RM95.81 mil a year ago to mark a 33% yoy surge. Revenue was primarily contributed by customers from Japan, Malaysia and Thailand.
Elsewhere, revenue from the group’s wood pellet segment moderated to RM3.51 mil from RM13.87 mil in 1Q FY2025 given softer trading activity during the quarter.
The wood pellet segment serves as a complementary offering within the group’s broader biomass product portfolio as the group continues to maintain its presence in this segment to support customers requiring a diversified biomass fuel supply.
As of end-March 2026, Elridge Energy’s net assets per share improved to 12.49 sen, from 11.60 sen as of end-December 2025.
Upon the Lahad Datu facility in Sabah coming online later in 2026, the group’s production size will climb from 1.44 million metric tonnes to 1.68 million tonnes.
Long-term demand visibility is underpinned by the group’s existing supply agreements. A 15-year PKS supply agreement with Japan’s JFE Shoji Group provides for the annual delivery of 150,000 tonnes of Green Gold Label (GGL)-certified PKS from April 2025 through March 2040, thus anchoring a steady revenue base.
Additionally, a memorandum of understanding (MOU) with Thailand’s Berkana Power Co Ltd for annual 100,000 tonnes supply of PKS is expected to commence this year.
At the close of Friday’s (May 22) market trading, Elridge Energy was down 1 sen or 1.2% to 82 sen with 1.08 million shares traded, thus valuing the company at RM1.64 bil. – May 24, 2026
