Geo Energy Resources Limited (SGX: RE4) has announced a strong financial performance for the third quarter ended 30 September 2026 (3Q2026), with net profit surging 545% year-on-year to US$20.6 million, supported by higher coal sales volumes, stronger selling prices and initial cost savings from its PT Marga Bara Jaya (MBJ) Integrated Infrastructure.

The Group's 9M2026 net profit reached US$36.2 million, surpassing the US$27.5 million recorded for the entire FY2025, reflecting the significant improvement in its operating performance.

Key highlights of the 3Q2026 performance:

• Strong Revenue and Earnings Growth: Revenue increased 52% year-on-year to US$208.3 million, supported by coal sales of 3.3 million tonnes in 3Q2026, nearly matching the 3.6 million tonnes sold during the entire 1H2026.

• Improving Mining Profitability: Cash profit per tonne increased to US$15.83 in 3Q2026, compared with US$6.56 in 3Q2025, supported by higher average selling prices and initial logistics efficiencies.

• Early Benefits from MBJ Integrated Infrastructure: Approximately 300,000 tonnes of coal were transported through MBJ during 3Q2026, generating cash cost savings of approximately US$11 per tonne on the tonnage delivered. Volumes increased further to approximately 350,000 tonnes in October 2026.

• Higher Shareholder Returns: The Group declared a 3Q2026 interim dividend of 0.25 Singapore cents per share, exceeding the combined 0.20 Singapore cents per share declared and paid during 1H2026. Geo Energy has declared and paid dividends for 23 consecutive quarters.

• Continued Share Buybacks: The Group repurchased 14,237,500 shares for approximately US$6.3 million through its share buyback activities in July and October 2026, reinforcing its capital management initiatives.

• Production Growth and Operational Expansion: With double-trailer haulage commencing in October 2026, the Group expects to progressively increase the proportion of TRA coal transported through MBJ. Geo Energy remains on track towards its FY2026 coal volume target of at least 11.5 million tonnes, having produced 7.2 million tonnes during 9M2026.

• Increased Stake in Core Mining Asset: In October 2026, the Group acquired an additional 100 million shares in PT Golden Eagle Energy Tbk for approximately US$21.3 million, increasing its stake from 67% to 70% in anticipation of TRA's future production ramp-up.

Looking ahead, Geo Energy expects continued operational improvements as MBJ utilisation increases, supported by further logistics efficiencies and a favourable coal price environment. Subject to coal prices remaining around US$78 per tonne and TRA volumes ramping up as planned, the Group anticipates a substantial increase in FY2026 profitability.

Mr Charles Antonny Melati, Executive Chairman and Chief Executive Officer of Geo Energy, highlighted that the commencement of MBJ operations is beginning to translate into tangible financial benefits, positioning the Group for stronger earnings and cash flow generation while supporting sustainable shareholder returns.

See link for full announcement: https://geoenergy.listedcompany.com/news.html/id/2633235