CSE Global’s revenue jumps by 15% YoY to $213.9m in Q3 2024

This is attributed to the broad-based growth across all business segments and geographical regions.

CSE Global Limited’s revenue jumped by 15.4% year-on-year (YoY) to $213.9m for the third quarter of 2024 (Q3 2024), led by broad-based growth across all business segments and geographical regions.

The electrification, communications, and automation business segments contributed 49%, 28.9%, and 22.1% of Q3 2024 revenue, respectively.

Revenue for the electrification business segment rose by 22% to $104.8m in Q3 2024, mainly attributed to the faster-than-anticipated project execution milestones for two electrification projects in the USA, which resulted in higher project revenues recognised.

The electrification business segment secured $78.3m of new orders, which contributed about 41.9% of total order intake during the quarter.

The communications business segment posted a 12.1% increase in revenue YoY from $55.1m to $61.8m, largely contributed by growth in the government sector and retail industry revenues in Australia.

This business segment accounted for approximately 32.4% of the total order intake in Q3 2024, securing $60.5m in new orders as compared to $66.4m in 3Q2023.

Revenue for the automation business segment grew by 6.6% YoY during Q3 2024 from higher government sector revenues in the Asia-Pacific region.

The automation business segment clinched $47.8m of new orders in Q3 2024.