Velesto Energy Berhad Second Quarter 2024 Earnings: EPS: RM0.008 (vs RM0.002 in 2Q 2023)

Simply Wall St · 08/30 22:38

Velesto Energy Berhad (KLSE:VELESTO) Second Quarter 2024 Results

Key Financial Results

  • Revenue: RM393.4m (up 41% from 2Q 2023).
  • Net income: RM62.8m (up 261% from 2Q 2023).
  • Profit margin: 16% (up from 6.2% in 2Q 2023). The increase in margin was driven by higher revenue.
  • EPS: RM0.008 (up from RM0.002 in 2Q 2023).
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KLSE:VELESTO Earnings and Revenue Growth August 30th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Velesto Energy Berhad Earnings Insights

Looking ahead, revenue is expected to fall by 3.0% p.a. on average during the next 3 years compared to a 6.6% decline forecast for the Energy Services industry in Malaysia.

Performance of the Malaysian Energy Services industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of Velesto Energy Berhad's balance sheet and an in-depth analysis of the company's financial position.