Bumi Armada Berhad reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported revenue of MYR 589.0 million against MYR 701.8 million a year ago. Net loss was MYR 85.1 million or 1.45 sen per share against MYR 52.6 million or 0.87 sen per share a year ago. EBITDA was MYR 125.9 million against MYR 155.9 million a year ago. The Group reported a net loss of MYR 85.1 million for the fourth quarter of 2015, mainly due to non-cash charges. Operating loss was MYR 90.807 million compared to MYR 0.029 million a year ago. Loss before taxation was MYR 104,011,000 compared to MYR 32,551,000 a year ago.

For the year, the company reported revenue of MYR 2,179.7 million against MYR 2,397.3 million a year ago. Net loss was MYR 234.6 million or 4.00 sen per share against net profit of MYR 218.7 million or 4.32 sen per share a year ago. EBITDA was MYR 981.0 million against MYR 914.0 million a year ago. The group generated net cash flows from operating activities for full year 2015 of MYR 535.4 million. The decline in revenue for the fiscal year 2015 was due to lower revenue in the OSV and T&I businesses, which saw year-on-year revenues fall by 17.8% and 57.7%, respectively. Operating loss was MYR 100.209 million compared to operating profit of MYR 372.434 million a year ago. Loss before taxation was MYR 171,392,000 compared to MYR 309,182,000 a year ago. Purchase of property, plant and equipment was MYR 3,568.056 million compared to MYR 2,128.524 million a year ago.

For the fourth quarter of 2015, the company reported impairment loss of MYR 45.526 million compared to MYR 24.823 million a year ago.