Avangaad has reported revenue of MYR33.5 million ($7.5 million) for the third quarter ended September 30, 2025, a six per cent increase compared to MYR31.6 million in the same period last year. The growth was attributed to higher vessel utilisation and improved charter rates for its fast crew boat (FCB) contracts.
For the first nine months of 2025, the group’s cumulative revenue rose to MYR95.7 million, up from MYR93.4 million in the previous year. Core profit after tax (PAT) for the nine-month period stood at MYR16.8 million.
Avangaad noted that year-on-year net profit comparisons were impacted by a significant one-off non-cash income of MYR175.9 million recognised in the same period of 2024, related to its PN17 regularisation plan.
Excluding one-off items, the company delivered an operating cash flow of MYR42.7 million for the first nine months of 2025, a turnaround from the net outflow recorded in the corresponding period of 2024. This improvement was driven by healthier vessel deployment and a streamlined cost structure following the completion of its regularisation plan.
As of September 30, 2025, Avangaad’s total order book stood at MYR411.2 million, comprising MYR163.8 million in firm contract value and MYR247.4 million in optional contract extensions. Year-to-date, the group has secured three FCB contracts worth MYR29.2 million, along with MYR66.8 million in new and extended tugboat charters from Northport.
Datuk Wira Mubarak Hussain Akhtar Husin, Executive Director of Avangaad, stated: “This quarter, we achieved stronger vessel utilisation, supported by new contract wins across both our FCBs and tugboats.”
