Kuala Lumpur, 25 February 2026 – Steel Hawk Berhad (Stock Code: 0320) delivered a strong performance for the financial year ended 31 December 2025 (FY25), posting a 55.9% year-on-year (YoY) increase in revenue to RM122.26 million, driven by higher project execution and growing contributions from non-PETRONAS contracts.
Net profit rose 8.5% YoY to RM13.73 million, compared with RM12.65 million in FY24, reflecting resilient earnings growth despite one-off challenges during the year.
Revenue Growth Supported by Diversification
The improved top-line performance was underpinned by stronger revenue recognition and increased activity levels, particularly from projects outside of PETRONAS.
The Group achieved this performance despite recognising approximately RM8.94 million in bad debts written off related to a customer undergoing winding-up proceedings. In contrast, FY24’s earnings were affected by non-recurring listing expenses of RM2.13 million.
Segmental Contributions
The Engineering, Procurement, Construction and Commissioning (EPCC) Services and Facilities Improvement/Maintenance division remained the primary revenue driver, contributing RM113.20 million, representing 92.6% of total revenue, a 72.8% increase from RM65.49 million in FY24.
The Installation and Maintenance (I&M) of Oilfield Equipment segment contributed RM7.03 million (5.7%), compared with RM10.06 million previously, while the Supply of Oilfield Equipment division accounted for RM2.03 million (1.7%), down from RM2.87 million in FY24.
4QFY25 Performance
For the fourth quarter ended 31 December 2025 (4QFY25), Steel Hawk recorded revenue of RM37.57 million, nearly doubling from RM18.40 million in 4QFY24, supported by new work orders from non-PETRONAS customers.
Quarterly net profit stood at RM3.32 million, slightly lower than RM3.57 million in the corresponding quarter last year, due to higher administrative expenses, including increased staff costs, professional fees and operational overheads linked to business expansion.
On a quarter-on-quarter basis, revenue rose from RM20.43 million in 3QFY25 to RM37.57 million, while net profit more than doubled from RM1.18 million to RM3.32 million.
Outlook and Strategic Expansion
Deputy Chairman and Executive Director Dato’ Sharman K. Michael said the Group remains positive on Malaysia’s oil and gas (O&G) sector, particularly in the midstream and downstream segments where asset integrity, maintenance and modification works are critical.
He noted that while cost optimisation measures and selective work order issuance by PETRONAS have moderated activity in certain areas, the ongoing need to maintain and enhance existing facilities continues to generate steady opportunities.
Following shareholders’ approval in November 2025 to diversify its business scope, Steel Hawk has expanded its EPCC capabilities beyond O&G into utilities, power, infrastructure, telecommunications and other industrial sectors. This strategic diversification has already contributed meaningfully to FY25 revenue.
Currently managing 21 contracts, including 13 ongoing call-out contracts providing multi-year revenue visibility, Steel Hawk enters FY26 supported by a healthy order pipeline and disciplined project execution.
With its broadened sector exposure and strengthened project base, the Group is positioning itself as a reliable engineering partner across Malaysia’s evolving energy and infrastructure landscape.
