Charisma Energy rebounds to $53.2m full-year profit in 2025 on debt forgiveness gain

Its earnings recovery followed the company’s debt restructuring exercise.

Charisma Energy Services Limited recorded a net profit of $53.18m (US$42.21m) for the financial year ended 31 December 2025, compared with a net loss of $1.56m (US$1.24m) in the 2024 financial year.

The profit includes a gain of $53.05m (US$42.10m) from debt forgiveness, following the completion of a restructuring exercise and a scheme of arrangement on 16 June 2025, according to a financial statement.

Basic earnings per share for continuing operations reached 33.513 Singapore cents (26.598 US cents)—an increase from a loss of 12.333 Singapore cents (9.788 US cents) in the prior year—whilst diluted earnings per share stood at 22.918 Singapore cents (18.189 US cents).

Total revenue for the year decreased from $8.68m (US$6.89m) in 2024 to $7.35m (US$5.83m) in 2025.

The group’s net assets reached $16.71m (US$13.26m) in 2025, compared with a net liability position of $64.15m (US$50.91m) reported in 2024.

Debt to external parties fell to $5.67m (US$4.5m) from $88.96m (US$70.6m). Cash and bank balances increased to $13.42m (US$10.65m) from $289,800 (US$230,000).

Revenue from the mini-hydro power plants in Sri Lanka declined due to lower rainfall and reduced tariff rates under renewed power purchase agreements, the statement said.

The group also cited a revenue shortfall of $139,860 (US$111,000) due to power curtailment by the Ceylon Electricity Board. A temporary stoppage of one plant due to Cyclone Ditwah resulted in a loss of $36,540 (US$29,000).

Cost of sales for the year fell by $356,580 (US$283,000) to $2.16m (US$1.71m), due to lower requirements for replacement parts for the hydro plants. Administrative and marketing expenses dropped to $3.01m (US$2.39m).

The company declared no dividend for the financial year, the statement said.

The board has also proposed a name change from “Charisma Energy Services Limited” to “Khen Energy Limited”, subject to shareholder approval at an extraordinary general meeting on 2 March 2026.

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