Avangaad reported a profit before tax of MYR29 million ($6.5 million) for the financial year ended December 31, 2025. This performance represents the company's first full year of normalised operations following its exit from PN17 status, a classification for financially distressed firms on the Malaysian stock exchange.
Revenue for the twelve-month period rose four per cent to MYR127.6 million, driven by improved charter pricing for the fast crew boat fleet. The group noted that the previous year’s profit was materially affected by a one-off, non-cash debt waiver gain of MYR171.1 million.
Operating cash flow reached a positive MYR65.1 million, marking a significant turnaround from the MYR54.4 million outflow recorded in 2024. This cash generation supported a free cash flow of MYR43.7 million and allowed for substantial deleveraging.
Executive Director Datuk Wira Mubarak Hussain Akhtar Husin stated that the company has strengthened its balance sheet through operational performance rather than external financing. He noted that generating MYR65 million in operating cash flow during the year highlights the health of the underlying business.
Husin confirmed that the company now holds MYR46 million in cash and has returned to positive retained earnings. He added that margin improvement remains a focus.
The company secured approximately MYR137 million in new and extended contracts throughout the 2025 financial year. These agreements included port marine services contracts with Northport (Malaysia) Corporation valued at MYR66.8 million.
The total order book for the group stood at MYR423.3 million as of December 31, 2025. This figure comprises MYR154.7 million in firm contracts and MYR268.6 million in extension options, according to the company statement.
Net gearing for the firm improved to 0.08x, which is a reduction from the 0.24x recorded at the end of the previous year. The company reported that retained earnings recovered by nearly MYR199 million over the last two years.
Total borrowings were reduced by 15.7 per cent to MYR75 million. The company stated that the current order book provides “clear visibility” for its operations into 2027.
