Vallianz Holdings Limited, an established provider of offshore support vessels and integrated marine solutions to the oil and gas industry, delivered a steady net profit of US$20.1 million for the financial year ended 31 December 2015 amid the prevailing headwinds in the offshore marine industry.
Revenue in FY2015 jumped 51.3% to US$232.6 million on the back of higher revenue from Vallianz’s offshore support vessel chartering and brokerage business, as well as new revenue streams from subsidiaries acquired in the last quarter of 2014. The OSV chartering and brokerage business, which made up 64% of total revenue in FY2015, registered stronger revenue as a result of incremental contributions from new charter contracts, expansion of fleet size and healthy fleet utilisation rate.
At the end of FY2015, Vallianz owns and operates 44 OSVs, compared to 37 OSVs at the end of FY2014. Its fleet had an average utilisation rate of around 81% in FY2015. Vallianz improved its gross profit by 17.7 % to US$ 65.0 million. Gross profit margin for FY2015 was 27. 9 % compared to 35.9% in FY2014 due to a shift in Vallianz’s revenue mix and expansion of its owned fleet.