CSE Global - UOB Kay Hian 2023-05-16: 1Q23 Revenue In Line; Attractive Yield Of About 8%

• CSE Global's 1Q23 revenue of S$159m (+36% y-o-y) was in line, forming 26% of our full-year estimate. The higher revenue was mainly attributable to growth in infrastructure revenue in Australia and the Americas region as well as contributions from recent new acquisitions.
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• CSE Global offers an attractive 2023 dividend yield of around 8%. Maintain BUY and target price of S$0.42.

Revenue in line withexpectations, infrastructuresegment deliveredrobust 60%growth.

• CSE Global (SGX:544)’s 1Q23 revenue of S$159m (+36% y-o-y) was in line, forming 26% of our full-year estimate. Revenue achieved growth across all geographical regions.
• - Read this at SGinvestors.io -
• Infrastructure revenue surged by 60% y-o-y in 1Q23, mainly driven by higher revenue contributions in Australia and the US, and contribution from the new acquisitions.

Healthy order wins.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-05-16 CSE Global - 1q25 In Line; Slight Earnings Revision On US Dollar Weakness..

Previous report by UOB:
2025-02-27 CSE Global - Strong Earnings Beat In 2024, Gearing Up For Expansion..

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