For the quarter under review, Yinson reported a lower revenue of RM2.1 billion compared to the preceding year's quarter of RM3.1 billion the dip it said was mainly due to lower contribution from EPCIC business activities as a result of lower reported progress for the Group's FPSOs under construction in the current quarter.

The Group's EBITDA for Q2'FYE 2025 stood at RM869 million, a 6% QoQ increase when compared to Q1'FYE 2025 of RM821 million. The increase was mainly due to one-off impact of reversal of impairment on a fund investment recognised in prior years of RM33 million.

The Group's profit after tax for Q2'FYE 2025 increased by 6% QoQ or RM14 million to RM263 million as compared to RM249 million in the preceding quarter. The increase reflects the same drivers as for the Group's EBITDA and decrease in tax expenses of RM38 million, offset by increase in finance costs of RM73 millionFor the YTD Q2'FYE 2025, revenue decreased by 29% YoY to RM4,356 million as compared to RM6,131 million in YTD Q2'FYE 2024.

The decrease in revenue was mainly due to lower contribution from EPCIC activities (based on progress of construction) as FPSO Maria Quitéria and FPSO Atlanta are expected to be completed by the end of the current financial year and the absence of the one-off effect of the exercise of the call option for the acquisition of AFPS B.V. completed on 31 July 2023. This was partially offset by higher contribution from FPSO Anna Nery's operations since first oil was achieved on 7 May 2023. The actual progress of our projects under construction is in line with the Group's expectations.

As for YTD Q2'FYE 2025, EBITDA stood at RM1.6 billion, a 30% YoY increase when compared to RM1.3 billion in YTD Q2'FYE 2024. The increase was mainly due to the contribution from FPSO Anna Nery's operations since first oil was achieved on 7 May 2023.

The Group's profit after tax increased by RM43 million or 9% YoY to RM512 million as compared to RM469 million for the corresponding financial period ended 31 July 2023. The increase was mainly due to the higher contribution from FPSO Anna Nery's operations since first oil was achieved on 7 May 2023, which was partially offset by the lower contribution from the Group's EPCIC business activities (based on progress of construction) and increase in finance costs of RM414 million arising from higher drawdowns of the Group's financing facilities to support our project execution requirements.

The Directors have declared an interim single-tier dividend of 1.0 sen per ordinary share, amounting to approximately RM30 million for the financial year ending 31 January 2025 bringoing its 6M FYE 2025 total DPS to 2.0 sen.