B
aker Tech recorded a lower
revenueof $5.0million and
anet loss of $10.7million for
FY2017 as a result of theprotracted
downturn in theoil andgas
industryduring the year.
Sales of spareparts and
engineering services, primarily in
theMiddleEast and Singapore
regions,madeup around88%of
Baker Tech’s revenue in FY2017.
However, theextendedoil price
downturn led tocutbacks in
Exploration&Production spending,
anddiminished appetite for
long-termmajor capital projects,
which resulted in a sharpdrop
inBaker Tech’s project revenue
in FY2017. TheGroup’s revenue
was down 77% year on year at
$5.0million.
Overview
Operating
Review
2017
2016 Change
$’000
$’000
%
Project revenue
598
16,109
-96%
Revenue from spareparts and
engineering services
4,404
5,411
-19%
Total Revenue
5,002
21,520
-77%
Net Loss
(10,690)
(8,327)
+28%
MarineOffshore
RevenueByGeographicalArea
<1%
27%
15%
17%
52%
45%
26%
10%
7%
1%
FY2017 FY2016
$’000
$’000
MiddleEast
2,608
9,751
China
15
5,852
AsiaPacific (excludingChina and Singapore)
764
3,624
Singapore
1,288
2,122
Others
327
171
5,002
21,520
FY2017
FY2016
BAKER
Technology
L IMI TED
THE BE ST
I N US
. 2 6
