BIOENERGY-based Elridge Energy Holdings Bhd has started its FY2026 on a strong footing by building on the momentum from a record FY2025.
The group remains committed to scaling its manufacturing footprint, strengthening supply capabilities and supporting growing demand for sustainable biomass fuel solutions across the Asia Pacific region, according to CEO Oliver Yeo.
Elridge recorded revenue of RM130.79 mil and pre-tax profit of RM17.77 mil in its 1Q ended March 31, 2026 against RM109.67 mil and RM13.58 mil respectively a year ago underpinned by demand driven primarily by customers in Japan, Malaysia and Thailand.
Palm kernel shells (PKS) remained the group’s primary revenue driver at RM127.28 mil or 97.3% of its 1Q FY2026 revenue with wood pellets contributing RM3.51 mil.
“With biomass fuel continuing to play an increasingly important role in supporting decarbonisation efforts and renewable energy generation, we see strong opportunities across regional markets,” Yeo who is also Elridge’s executive director spoke at the group’s recent second annual general meeting (AGM).
“This is particularly as industrial users and biomass power producers seek alternatives to conventional fossil fuels.”
Added Yeo: “Elridge remains focused on disciplined growth, operational scalability and sustainability integration as we strengthen our position within the regional renewable energy ecosystem.”
To support future growth, the group has expanded its production footprint from its existing facilities in Telok Gong and Kapar, Selangor with the commencement of new PKS facilities in Kuantan (Pahang) and Pasir Gudang (Johor) bringing total installed annual capacity to approximately 1.44 million metric tonnes.
A further facility in Lahad Datu (Sabah) is in the planning stage.
Clean energy boost
Subsequent to its FY2026, the group has entered into memoranda of understanding (MOU) with counterparties in Thailand and the Middle East, reflecting its on-going efforts to expand geographical reach, secure longer-term supply arrangements and strengthen its position within the regional biomass fuel supply chain.
For its FY2025, Elridge revenue chalked up a 11% year-on-year (yoy) growth of RM431.98 mil (FY2024: RM389.05 mil). Gross profit improved to RM103.27 mil from RM81.66 mil with gross profit margin expanding from 20.99% to 23.91%.
The group’s pre-tax profit rose to RM75.90 mil from RM56.35 mil in FY2024 while its net profit surged to RM57.31 mil from RM41.17 mil in FY2024 supported by continued demand for biomass fuel products and improved operational efficiency.
PKS remained the group’s primary revenue contributor at RM388.63 mil or approximately 90% of total FY2025 revenue, supported by sustained demand from Japan, Indonesia, Malaysia, Singapore and Thailand. Wood pellets contributed the remaining RM43.34 mil.
In line with its sustainability agenda, Elridge continues to support the clean energy transition through responsible biomass sourcing and compliance with recognised environmental standards, including Green Gold Label certification for PKS and PEFC (Programme for the Endorsement of Forest Certification) certification for wood pellets.
No dividends were declared for FY2025. The board will consider the declaration of dividends in the future, taking into account the group’s financial performance, capital requirements and other relevant factors
At the close of today’s (June 25) mid-day trading, Elridge was down 1.5 sen or 1,7% to 86.5 sen with 1,37 million shares traded, thus valuing the company at RM1.73 bil. – June 25, 2026
