On behalf of the Board, I am pleased to present Yinson’s Integrated Annual Report 2024. We continued to deliver strong financial results in the year under review, even as we focused on delivering critical energy infrastructure to communities around the world that need it most. Adaptability is key, as we navigate the evolving risks and opportunities of a rapidly changing business landscape.
Lim Han Weng
Group Executive Chairman
Amid multiple macroeconomic headwinds including geopolitical uncertainties, inflation and tightened financial conditions, Yinson remained focused on delivering on our commitments in 2023. Among key achievements during the year are the timely progression of our three FPSO projects under construction, delivery of our first utility-scale renewables construction project and launch of two prototype fully electric marine vessels.
LIM CHERN YUAN
Group Chief Executive Officer
In FYE 2024, the Group continued to deliver on its value creation objectives, producing its best performance to date for both revenue and PAT. Revenue was RM11.6 billion, an 84% increase compared to the RM6.3 billion recorded the year before. As a result, PAT also increased to RM1.1 billion, 94% higher from RM588 million in FYE 2023. This increase in PAT to a new record level reaffirms that our strategy of inclusive transition and adaptability as an energy infrastructure and technology company is delivering results.
GUILLAUME JEST
Group Chief Financial Officer
CARBON INTENSITY
175.9 tonnes CO2e/
RM million
by revenue
591.4 kg CO2e/MWh
by energy generated
33.9 kg CO2e/BOE
by barrel of oil equivalent generated
EFFLUENTS AND WASTE
10 (0.3 litres)
hydrocarbon spill incidents
7.8 ppm
average oil in slop water content
207.6 tonnes
waste reused, recycled or recovered
ENERGY
3,246,585.4 MWh
energy consumed
365,593.2 MWh
renewable energy generated
278.8 MWh/
RM million
energy intensity
GREEN TECHNOLOGIES
>400 chargers
operated and maintained
3,324.7 MWh
energy delivered
through chargEV chargers
Facilitated
~21.28 million km
travelled on electricity
EMPLOYEES
7.4 company index
employee engagement score
361 new hires
9.29%
voluntary regular employee
turnover rate
SAFETY
0.06
Lost Time Injury Frequency
0.36
Total Recordable Injury Frequency
CORPORATE SOCIAL RESPONSIBILITY
RM1.91 million
community investment
~32
communities impacted
~4,940
lives impacted
980
employee volunteering hours
100%
pre-qualified suppliers underwent detailed ESG screening
2023 was no ordinary year. Changing macroeconomic conditions disrupted markets, tested our resilience and challenged our assumptions. Yet, it was precisely during these uncertain times that our strategy proved its mettle. We adapted our pace and processes in alignment with changing market factors, while continuing to adhere to our business strategies. We kept focused on our purpose and made decisions in alignment with our Core Values.
Integrate and adopt climate considerations for business resiliency and manage decarbonisation efforts through technology-driven optimisation and low-carbon processes.
A balanced approach to the energy trilemma to support the global energy shift towards an equitable and inclusive low carbon economy through renewable and innovative low-carbon solutions.
Strategies to reduce negative impact from operations to enhance ecosystem resilience through partnership and conservation efforts.
Responsible management of materials, encompassing their acquisition, disposal, and effective measures to address waste, water, effluent, and air pollution.
Responsible use of input material in product development, construction and operations.
Provision of secure working conditions and systems to safeguard human health and well-being in all operations.
Maintenance of key principles relating to human rights and labour standards as those defined by international conventions.
Maintain our standing as an employer of choice through utilising competitive programmes that attract, retain and reward employees.
Collaboration with local communities where we have operations on environmental and social projects that benefit the wider public.
Foster an open and all-inclusive work culture for an equitable and diverse workforce.
Continuously optimising and innovating business processes for financial performance and to safeguard against fluctuating economic conditions and market sentiments.
Business policies and practices to ensure ethical, transparent and responsible corporate governance.
Enhancing supply chain resilience through supplier and contractor management while promoting sustainability principles throughout the value chain.
Integrate digital solutions into business processes and operations to optimise business performance and ensure digital systems and assets are safeguarded against external cyber threats.