SAPNRG (5218) 沙布拉能源 - [SAPURA ENERGY BHD:充分利用行业的复苏,全球招标及未来机会呈上升趋势,增加了年内的新合约,赢得53亿令吉新合约,订单增加至169亿令吉] - James的股票投资James Share Investing


 [SAPURA ENERGY BHD:充分利用行业的复苏,全球招标及未来机会呈上升趋势,增加了年内的新合约,赢得53亿令吉新合约,订单增加至169亿令吉]

2Q19 vs 2Q18:
沙布拉能源的财务表现较去年第二季财政年度的税前利润为3380万令吉减少1.134亿令吉,与收入减少一致。

工程建设:
该部门录得本季度的税前亏损为2,050万令吉,较去年同期二零一八年财政年度第二季的税前利润1.267亿令吉减少1.471亿令吉,因为营业收入较低。

钻孔:
该部门录得税前亏损5830万令吉,较二零一八年财政年度第二季度的税前亏损8,500万令吉减少31.4%,原因是本季度折旧成本较低(Q4FY2018的资产减值准备)导致的有利影响。

勘探和生产:
该部门录得收入2.276亿令吉,较二零一八年财政年度第二季度的收入1.62亿令吉增加40.5%。增加的原因是本季度与Q2FY2018相比实现了更高的提升活动和更高的平均实现油气价格的影响。该部门录得税前利润2,780万令吉,较Q2FY2018增加24.3%,与收入增加一致。

YTD19 vs YTD18:
沙布拉能源的财务表现较去年同期的1.381亿令吉的税前利润减少了3.26亿令吉,与收入减少一致。

工程建设:
该部门于本期间录得除税前溢利1600万令吉,较去年同期的税前利润为3.081亿令吉减少2.921亿令吉,与本期收入较低一致。

钻孔:
该部门于本期间录得除税前亏损1.27亿令吉,较去年同期的除税前亏损6420万令吉增加6280万令吉,与本期收入较低一致。

勘探和生产:
该部门录得收入4亿3740万令吉,较同期收入3.563亿令吉高出22.8%。增加的原因是本季度与Q2FY2018相比实现了更高的提升活动和更高的平均实现油气价格的影响。

2Q19 vs 1Q19:
集团收入12.597亿令吉比上一季度(「2019财年第一季度」)的10.549亿令吉高出19.4%,主要由于所有业务部门的收入增加。本季度,沙布拉能源录得税前亏损7,970万令吉。沙布拉能源的财务表现较二零一九年财政年度第一季的1.082亿令吉的税前亏损增加26.4%,与收入增加一致。

前景:
由于持续而活跃的油价推动全球行业活动增加,沙布拉能源已准备好充分利用行业的复苏。沙布拉能源的全球招标及未来机会呈上升趋势,转而增加了年内的新合约。截至目前的财政年度,沙布拉能源已在其工程建设及钻探业务中赢得53亿令吉新合约,导致沙布拉能源的订单增加至169亿令吉。不断增长的订单为未来增加收入和提高集团资产利用率提供了平台。

正在进行的和未来的投标是针对越来越多的客户以及不同地区的更大合同。为了赢得并执行增加的工作量,沙布拉能源已采取措施加强其资产负债表。第一步是让公司进行拟议的附加股以促进未来的增长。

此外,沙布拉能源宣布已与奥地利OMV Aktiengesellschaf(「OMV AG」)订立协议,以在E&P业务中建立战略合作伙伴关系,涉及拟出售该业务50%股权。该伙伴关系将加强技术和知识的共享,同时促进国内本地人才的发展。集团和OMV AG的综合能力和共同财务承诺也将为勘探和开发活动提供风险缓解。此外,这为释放勘探与生产业务的价值提供了估值的确定性。于完成出售后,沙布拉能源预期对盈利及资产净值产生正面影响。

拟议附加股的所得款项及出售E&P业务50%股权将主要用于减少借贷,从而减少资产负债及融资成本,提高盈利能力,以及为未来增长提供额外营运资金。

本季度业绩较上一季度有所改善,董事会认为这反映了集团正处于积极转型期。随着活动的增加和加强资产负债表的努力,董事会对沙布拉能源将继续改善其业绩表示乐观。
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James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.935 in 1 month 19 day, total return is 30.8%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.955 in 3 months, total return is 20.1%

3) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.54 in 2 months 23 days, total return is 17.1%

4) MATRIX (MATRIX CONCEPTS HOLDINGS BHD), recommended on 22 Jul 18, initial price was RM2.04, rose to RM2.10 (dividend RM0.0325) in 2 months 9 days, total return is 4.5%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

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有兴趣的朋友,可以电邮或PM FB page联络我
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最终决定永远是你的,谢谢。

James Ng
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[SAPURA ENERGY BHD: capitalise on the recovery in the industry, upward trend in bidding and prospective opportunities globally which has translated to increased contract wins during the year, won RM5.3 billion of new contracts which has resulted in orderbook increasing to RM16.9 billion]

2Q19 vs 2Q18:
The Group financial performance was lower by RM113.4 million compared to the profit before taxation of RM33.8 million in Q2FY2018, in line with the lower revenue.

Engineering and Construction:
The segment recorded a loss before taxation for the current quarter of RM20.5 million which was lower by RM147.1 million compared to profit before taxation of RM126.7 million in Q2FY2018, in line with the lower revenue in the current quarter.

Drilling:
The segment recorded a loss before taxation of RM58.3 million, which was lower by 31.4% compared to the loss before taxation of RM85.0 million in Q2FY2018 due to the favourable impact from the lower depreciation costs in the current quarter as a result of asset impairment exercise in Q4FY2018.

Exploration and Production:
The segment recorded revenue of RM227.6 million, which was 40.5% higher than the revenue of RM162.0 million in Q2FY2018. The increase was due to the higher liftings and the effect of the higher average realised oil and gas price achieved in the current quarter compared to Q2FY2018. The segment recorded a profit before taxation of RM27.8 million which was 24.3% higher compared to Q2FY2018, in line with the higher revenue.

YTD19 vs YTD18:
The Group financial performance was lower by RM326.0 million compared to the profit before taxation of RM138.1 million in the corresponding period, in line with the lower revenue.

Engineering and Construction:
The segment recorded a profit before taxation for the current period of RM16.0 million which was lower by RM292.1 million compared to profit before taxation of RM308.1 million in the corresponding period, in line with the lower revenue in the current period.

Drilling:
The segment recorded a loss before taxation for the current period of RM127.0 million which was higher by RM62.8 million compared to loss before taxation of RM64.2 million in the corresponding period, in line with the lower revenue in the current period.

Exploration and Production:
The segment recorded revenue of RM437.4 million, which was 22.8% higher than the revenue of RM356.3 million in the corresponding period. The increase was due to the higher liftings and the effect of the higher average realised oil and gas price achieved in the current period.

2Q19 vs 1Q19:
The Group revenue of RM1,259.7 million was 19.4% higher than the immediate preceding quarter ("Q1FY2019") of RM1,054.9 million, primarily due to the higher revenue from all business segments. In the current quarter, the Group recorded a loss before taxation of RM79.7 million. The Group financial performance was higher by 26.4% compared to the loss before taxation of RM108.2 million in Q1FY2019 in line with the higher revenue.

Prospects:
Amidst the sustained and buoyant oil prices which is driving increase in activities in the industry globally, the Group is well-positioned to capitalise on the recovery in the industry. The Group has seen an upward trend in bidding and prospective opportunities globally which has translated to increased contract wins during the year. For the financial year to-date, the Group has won RM5.3 billion of new contracts across its Engineering and Construction and Drilling businesses which has resulted in the Group’s orderbook increasing to RM16.9 billion. The growing orderbook provides the platform for increasing revenue and higher utilisation of the Group’s assets in the future.

The ongoing and future bids are for an increasing number of customers and for larger contracts in different geographical areas. In order to win and execute the increased volume of work, the Group has taken steps to strengthen its balance sheet. The first step involves the Company undertaking a proposed rights issue to fuel future growth.

In addition, the Group announced that it had entered into Heads of Agreement with Austria's OMV Aktiengesellschaf ("OMV AG") to form a strategic partnership in the E&P business involving the proposed sale of 50% equity stake in the business. The partnership will enhance the sharing of technology and knowledge, concurrently enabling development of local talent in-country. The combined capabilities and shared financial commitment of the Group and OMV AG will also provide risk mitigation in exploration and development activities. Furthermore, this gives certainty of valuation in unlocking the value of the E&P business. Upon completion of the sale, the Group expects a positive impact to the earnings and net assets of the Group.

The proceeds of the proposed rights issue and the sale of 50% equity stake in the E&P business would be primarily used to pare down borrowings, thus reducing gearing and finance costs, improving profitability, as well as providing additional working capital for growth going forward.

This quarter’s results is an improvement from the previous quarter and the Board views this to be a reflection of the Group being in positive transition. With the increasing activities and the efforts to strengthen the balance sheet, the Board is optimistic that the Group will continue to improve its performance.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.935 in 1 month 19 day, total return is 30.8%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.955 in 3 month, total return is 20.1%

3) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.54 in 2 months 23 days, total return is 17.1%

4) MATRIX (MATRIX CONCEPTS HOLDINGS BHD), recommended on 22 Jul 18, initial price was RM2.04, rose to RM2.10 (dividend RM0.0325) in 2 months 9 days, total return is 4.5%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/



In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://klse.i3investor.com/blogs/general/175584.jsp by date.

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

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Final decision is always yours, thank you.

James Ng

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