BIOENERGY-based Elridge Energy Holdings Bhd has dished out a stellar set of financials for its 2Q FY2026 ended June 30, 2026 with its net profit having surged 78.5% year-on-year (yoy) to RM22.19 mil (2Q FY2025: RM12.43 mil) while its revenue chalked up 26.5% yoy to RM131.71 mil (2Q FY2025: RM104.14 mil).
On a cumulative basis, the group’s revenue for the period under review rose by 22.8% yoy to RM262.50 mil (1H FY2025: RM213.81 mil) while its bet earnings climbed 53.6% yoy to RM39.96 mil from RM26.01 mil.
The ACE Market-listed entity’s basic earnings per share stood at 1.11 sen for 2Q 2026 and 2.00 sen for the six-month period compared to 0.62 sen and 1.30 sen, respectively in the previous year.
“The group delivered a strong performance in 1H FY2026, supported by higher revenue and improved product margins,” commented Elridge Energy’s CEO Oliver Yeo.
“Importantly, this was accompanied by stronger operating cash generation with net cash generated from operating activities reaching RM75.56 mil during the period from RM2.32 mil in 1H FY2025.”
Added Yeo who is also the group’s executive director: “We remain focused on maintaining our financial and operational discipline as we continue expanding our production capacity and growing the business.”
Palm Kernel Shell (PKS) remained Elridge Energy’s primary revenue contributor by generating RM127.31 mil or 96.7% of revenue in 2Q FY2026 from RM89.25 mil or 85.7% in the same quarter a year ago. Revenue was primarily contributed by customers based in Japan, Malaysia and Thailand.
Activated carbon production
During 1H FY2026, the group completed its PKS production facilities in Kuantan and Pasir Gudang with both facilities commencing operations during the period.
Each facility currently operates two production lines which brings the group’s total annual production capacity to 1.44 million metric tonnes (MT).
The group is currently adding four additional production lines at its new facility in Kuantan which is expected to contribute a further 480,000MT of annual production capacity and targeted to be operational in 4Q 2026.
Meanwhile, the Lahad Datu facility in Sabah remains on track for completion in FY2027 and is expected to add a further 240,000MT of annual production capacity.
Beyond volume growth, the group is diversifying into the production of activated carbon, a higher-margin, value-added product derived from PKS feedstock.
This initiative is expected to unlock greater value from the group’s biomass feedstock while broadening its revenue streams and market reach.
As of end-June 2026, trade receivables decreased to RM60.41 mil from RM89.84 mil as of end-December 2025 notwithstanding higher revenue recorded during 1H 2026.
Net assets per share improved to 13.60 sen, from 11.60 sen as of end-December 2025 while cash and bank balances stood at RM197.81 mi as of end-June 2026 from RM123.65 mil as of end-December 2025.
Looking ahead, the group remains cautiously positive on its ability to achieve satisfactory financial performance for the financial year ending Dec 31, 2026.
It will continue implementing its production capacity expansion and diversification plans to capture opportunities arising from demand for biomass fuel products.
At the close of today’s (Aug 26) mid-day trading, Elridge Energy was up 8 sen or 9.76% to 90 sen with 12.05 million shares traded, thus valuing the company at RM1.8 bil. – Aug 26, 2026
