ST Engineering profit up 9% to $146.4m in 3Q12

All sectors except Marine grew revenue.

In a release accompanying its latest results, Singapore Technologies Engineering Ltd (ST Engineering) announced that it turned in a better performance for the third quarter ended 30 September 2012 (3Q2012) over the same period last year.

Group revenue grew 11% or $147m to $1.54b, driven by higher revenue contributions from all sectors except for the Marine sector. Profit before tax (PBT) increased 11% or $18.8m to $184.7m and net profit after tax (Net Profit) grew 9% or $12.6m to $146.4m.

In 3Q2012, the Aerospace sector’s revenue of $505m was higher by 9% or $41m, and its PBT of $85.3m was comparable year-on-year. The Electronics sector’s 3Q2012 PBT was 11% or $3.8m higher at $40.1m on the back of a 10% or $30m increase in revenue to $341m. Compared to the same period last year, the Land Systems sector’s 3Q2012 revenue rose 27% or $84m to $391m, while PBT rose 30% or $4.6m to $19.9m. The Marine sector’s 3Q2012 revenue of $236m was lower by 7% or $19m, while its PBT was comparable year-on-year.

For the nine months ended 30 September 2012, the Group registered a 5% increase in revenue to $4.65b, while PBT and Net Profit rose 14% and 13% respectively to $534.6m and $424.0m, over the same period last year.

“Both the Group Revenue and PBT grew by about 11% and Net Profit improved 9% to $146.4m compared to 3Q2011. The Group registered 5% Revenue growth for 9M2012 over 9M2011. PBT and Net Profit grew stronger at 14% and 13% respectively. The Group’s order book as at end September was a healthy $12.5b," said Tan Pheng Hock, President & CEO, ST Engineering. "Barring unforeseen circumstances, the Group expects to achieve higher Revenue and PBT for FY2012 over FY2011.”

Commercial sales accounted for 65% of 3Q2012 revenue. The Group’s cash and cash equivalents, and short-term investments remained strong at $2.0b. As at the end of September 2012, the Group’s order book stood at $12.5b, of which about $1.4b is expected to be delivered in the fourth quarter.

The Group announced a healthy pipeline of new contracts worth about $1.04b in 3Q2012. The Aerospace sector secured about $692m worth of contracts that included the Maintenance-by-the-Hour support for 75 of AirAsia’s Airbus A320 aircraft over 10 years; the Electronics sector won $166m contracts for its Rail Electronics and Satellite Communications and Sensor solutions; while the Marine sector was awarded $179m contracts in shipbuilding and shiprepair that included two Offshore Support Vessels for Hornbeck Offshore Services.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia