51 SECTION 3 VALUE CREATION INTEGRATED ANNUAL REPORT 2025 STRATEGIC ROADMAP & PROGRESS At Wasco, we remain steadfast in executing the five strategic priorities we set out in 2024 and 2025 was the year those capabilities began delivering measurable outcomes at scale. As global energy dynamics continue to evolve, one defining reality has become clear: energy security and energy transition must advance together. Demand for reliable energy remains strong even as investment accelerates across renewables, electrification, grid infrastructure, and carbon reduction technologies. The world requires not just new sources of energy, but the infrastructure to deliver it safely, reliably, and sustainably. This is precisely the space Wasco occupies and at the heart of this platform are our people, whose experience, discipline, and commitment across project sites worldwide remain the foundation of everything we deliver. In 2025, that positioning translated into strong financial and operational performance across the Group. Engineering & Fabrication secured a USD150.0 million to USD200.0 million low-carbon infrastructure contract with Technip Energies Italy S.p.A., providing approximately 37 months of execution visibility. Wasco Greenergy achieved an independent listing on Bursa Malaysia’s Main Market and won its first biomass utility contract in Johor. Our Energy Transition order book grew from 22% at the beginning of 2025 to 51% by year-end, crossing the majority threshold for the first time. The Group recorded revenue of RM2.6 billion and PATMI of RM160.5 million, closing the year with a net cash position and a record orderbook of RM2.8 billion. The pages that follow detail what we delivered in 2025 against each strategic priority grounded in disciplined growth, responsible operations, and a clear commitment to long-term shareholder value and where we are taking each of them next.
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