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ST Engineering revenue up 13% YoY to $2.3b in Q1

Its Commercial Aerospace sector contributed the largest with $873m.

SGX-listed Singapore Technologies Engineering Ltd's (SG Engineering) group revenue rocketed by 13% to $2.3b in Q1 2023, from only $2b in Q1 2022.

Its Commercial Aerospace sector contributed $873m to that revenue in Q1 2023, thanks to securing $0.7b of new contracts during the same period.

This is 29% YoY higher from $674m in Q1 2022.

Meanwhile, the revenue from its Urban Solutions and Satcom sector increased 46% YoY to $434m from $297m.

READ MORE: ST Engineering, NTU launch Singapore's first EV park and charge system

Its Defence and Public Security sector inched up 1% YoY in its revenue to $982m in Q1 from $968m in Q1 2022, excluding the US Marine's $94m revenue from the same period. 

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