TMD Energy reports 2024 net income $1.9M vs. $2.0M last year

Reports 2024 revenue $688.6M vs. $633.1M last year. The company said, “In FY2024, the Company experienced sustainable revenue growth, primarily driven by the success of our Bunkering Services Segment. Revenue notably increased by 8.8% in FY2024 to over $688 million, while net income remained stable at about $1.9 million, compared to $2.0 million a year earlier…Looking ahead, we recognize the importance of maintaining this momentum. Our focus will remain on optimizing balance sheet by enhancing our operational efficiencies and exploring new customer opportunities in the bunkering sector. With our existing internal team of ship managers who are qualified professional mariners, we aim to continue growing our ship management revenue by targeting our existing bunkering client and external clients. We’ll also maintain competitive pricing via our supplier leverage and transparent practices as we stay committed to leveraging our strengths to drive sustainable growth and deliver value to our stakeholders.”