Elridge Energy Holdings Berhad (“Elridge Energy” or “the Group”) held its 2nd Annual General Meeting (“AGM”) today at The Majestic Hotel Kuala Lumpur.
Shareholders duly approved all 6 resolutions tabled at the AGM. These included the approval of Directors’ fees and benefits, the re-election of two Directors who retired pursuant to the Company’s Constitution, the re-appointment of HLB Ler Lum Chew as External Auditors, and the general mandate for authority to issue shares pursuant to the Companies Act 2016.
Oliver Yeo, Executive Director and Chief Executive Officer, said, “Elridge Energy has started FY2026 on a strong footing, building on the momentum from a record FY2025. We remain committed to scaling our manufacturing footprint, strengthening supply capabilities and supporting growing demand for sustainable biomass fuel solutions across the Asia Pacific region.”
For the first quarter ended 31 March 2026 (“Q1 FY2026”), the Group recorded revenue of RM130.79 million and profit after tax of RM17.77 million, compared to RM109.67 million and RM13.58 million respectively in Q1 FY2025, with demand driven primarily by customers in Japan, Malaysia and Thailand.
Palm kernel shells (“PKS”) remained the Group’s primary revenue driver at RM127.28 million or 97.3% of Q1 FY2026 revenue, with wood pellets contributing RM3.51 million.
“With biomass fuel continuing to play an increasingly important role in supporting decarbonisation efforts and renewable energy generation, we see strong opportunities across regional markets, particularly as industrial users and biomass power producers seek alternatives to conventional fossil fuels. Elridge Energy remains focused on disciplined growth, operational scalability and sustainability integration as we strengthen our position within the regional renewable energy ecosystem,” added Oliver Yeo.
To support future growth, Elridge Energy has expanded its production footprint from its existing facilities in Telok Gong and Kapar, Selangor with the commencement of new PKS facilities in Kuantan, Pahang and Pasir Gudang, Johor, bringing total installed annual capacity to approximately 1.44 million metric tonnes. A further facility in Lahad Datu, Sabah is in the planning stage.
Subsequent to the 2026 financial year end, the Group entered into memoranda of understanding with counterparties in Thailand and the Middle East, reflecting its ongoing efforts to expand geographical reach, secure longer-term supply arrangements and strengthen its position within the regional biomass fuel supply chain.
For the financial year ended 31 December 2025 (“FY2025”), Elridge Energy recorded revenue of RM431.98 million, representing an increase of 11.03% from RM389.05 million revenue in FY2024. Gross profit improved to RM103.27 million from RM81.66 million, with gross profit margin expanding from 20.99% to 23.91%. Profit before tax rose to RM75.90 million from RM56.35 million in FY2024, while profit after tax increased to RM57.31 million from RM41.17 million in FY2024, supported by continued demand for biomass fuel products and improved operational efficiency.
PKS remained the Group’s primary revenue contributor at RM388.63 million or approximately 90% of total FY2025 revenue, supported by sustained demand from Japan, Indonesia, Malaysia, Singapore and Thailand. Wood pellets contributed the remaining RM43.34 million.
In line with its sustainability agenda, Elridge Energy continues to support the clean energy transition through responsible biomass sourcing and compliance with recognised environmental standards, including Green Gold Label certification for PKS and PEFC certification for wood pellets.
No dividends were declared for FY2025. The Board will consider the declaration of dividends in the future, taking into account the Group’s financial performance, capital requirements and other relevant factors.