KUALA LUMPUR: Sapura Energy Bhd said higher prices of crude oil boosted earnings at its production and drilling businesses, but unfavourable US dollar exchange rate and one-time financial impact arising from its refinancing exercise dragged the group into the red in the first quarter.

       For the three-month ended April 30, the group posted a loss of RM97mil on revenue of RM1.47bil.

       Earnings before interest, taxation, depreciation and amortisation (EBITDA) was RM157mil, weaker compared with RM203mil achieved in the same quarter last year.

       "Improvements in operational efficiencies and continued realisation of cost optimisation initiatives enabled the Group to preserve a healthy EBITDA margin of 11% despite the pandemic-stricken operating environment," Sapura Energy said in a press release today.？

       All business segments in the group reported better EBITDA margins in the current quarter, particularly the Drilling segment, which posted a strong EBITDA margin of 52%.

       The group’s orderbook stood at RM11.8bil as at the end of Q1 FY2022.

       Sapura Energy said total bids and prospects was valued at RM147bil, with RM51bil worth of tenders already submitted or in progress.

       These include six active bids in the renewables sector, across Asia Pacific.？“Sapura Energy has secured about 95% of its targeted revenue for financial year 2022, and we are confident that we will exceed the revenue posted in financial year 2021,” group CEO Datuk Mohd Anuar Taib said.

       ？"We are well-positioned to capitalise on the recovering energy industry, given the expected rebound in oil and gas demand. At the same time, we will continue to deepen our presence in the renewables sector to ensure we remain sustainable in the future,” he added.？