TMD Energy reports 6M25 revenue $276.3M, down 22.7% year-over-year

Group revenue was $276.3 million for the 6M2025, down 22.7% as bunkering volumes fell 11.2% compared to six months ended June 30, 2024 as the global economy and shipping industry faces significant challenges arising from the tariff crisis and its uncertainties. Gross profit was $4.0 million, with gross profit margin at 1.4% for 6M2025, compared to 1.6% in 6M2024. Net loss was $4.5 million for the 6M2025, compared to net income of $1.1 million during 6M2024. Dato’ Sri Kam Choy Ho, Director and CEO commented, “In 6M2025 we delivered a revenue of $276.3 million, down about 22.7% as bunkering volumes eased by over 11.2% despite the significant challenges of the tariff and geopolitical crisis. Gross margin narrowed amid rising operating costs, while tight control of marketing expenditure and a marginal increase in administrative expenses enhance operational efficiency. Foreign currency exchange loss and higher finance charges mainly contributed a net loss for the period. The loss for the period was as a result of a combination of factors from climate change and global economic uncertainties, such as the tariff crisis, global trade war, geopolitical tension and continued volatility in global oil prices. These caused major disruptions in shipping schedules and general slowdown in the shipping industry, which led to significant reduced demand for bunkering services. Looking ahead, we aim to optimize fleet deployment, to look into possibility of expanding our portfolio of high-margin ship-management contracts and accelerate cost efficiencies through digital tools and automation. We are also evaluating a prudent FX-hedging program and advancing our sustainability decarbonization roadmap, including the transition to lower-carbon marine fuels and bioenergy segment.”