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Results beat. Armada chalked up core net profit of RM239.4m in 1Q24 (-24% QoQ, +15% YoY), which we deem above our (31%) and street (31%) forecasts. Key deviation stemmed from higher-than-expected revenue arising from finalisation of daily operating fee escalation relating to Olombendo FPSO.
Bumi Armada analysts consensus, targets, ratings and recommendations | BURSA MALAYSIA: ARMADA | BURSA MALAYSIA
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Publish date: Wed, 19 Jun 2024, 04:14 PM. The daily chart of Bumi Armada (ARMADA, 5210, Main Board Energy) closed at RM0.565 on June 18, up 1.0 sen or 1.80% on a daily basis, sideways between the support level and the rising trend line. Its daily relative strength index (RSI) indicator began to rise and is at 48.98.
Repaid US$37m of debt in Q3 2023. Net assets per share of RM1.00. Operational performance of Armada Kraken has been fully restored in August 2023. Successfully refinanced the remaining balance of US$660m corporate loan facility of US$106m via a Syndicated Term Loan Facility in October 2023. Achieved financial close on A98/2 refinancing.
Jul 2, 2024 · Bumi Armada’s short-to-medium term outlook remains promising as we anticipate the group to secure TotalEnergies’ Cameia FPSO vessel project in the coming months. To recap, Upstream Online reported in September this year that the group has emerged as the frontrunner to provide a FPSO unit to the CameiaGolfinho project, offshore Angola.
SSLEE Yinson's job is just properly executing its contracts. That's partially Bumi Armada's downfall - they were working simultaneously on 4 projects in 2015, and there were delays for all. Compounded by Armada Claire being terminated and the OSV oversupply situation back then. Yinson would be wise to learn and avoid a repeat of the same. 1 ...
