Sembcorp Industries - OCBC Investment 2023-08-08: Transforming From Brown To Green

Sembcorp Industries - Transforming From Brown To Green

Sembcorp (SGX:U96) | SGinvestors.ioSembcorp (SGX:U96)
  • Sembcorp (SGX:U96) reported a strong set of 1H23 results, with profit from continuing operations rising 56% y-o-y to S$608m – the coal business was reported as a discontinued operation post approval of the sale of Sembcorp Energy India Ltd (SEIL).
  • - Read this at -

Growth in conventional energy may normalise going forward

  • Growth in Renewables was expected with the recent acquisitions, but focus is likely to be on the Conventional segment going forward, as 1H23 may be the peak of profits due to several factors.
  • In 1H23, the higher Uniform Singapore Energy Price (USEP) price was one of the drivers of higher profit at the Singapore cogeneration plant, and there was a boost from higher-than-usual exposure to uncontracted capacity with the preparation for the beginning of two long-term power purchase agreements (PPAs).
  • - Read this at -

Capital recycling likely the focus ahead; look forward to Investor Day in early November for updates on renewables targets

  •

Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @

OCBC Research Team OCBC Investment Research | 2023-08-08

Read also OCBC's most recent report:
2024-06-03 Sembcorp Industries - Positive Structural Demand Drivers.

Previous report by OCBC:
2023-12-06 Sembcorp Industries - In The Midst Of Transformation.

Price targets by other brokers at Sembcorp Target Prices.

Listing of research reports at Sembcorp Analyst Reports.

Relevant links:
Sembcorp Share Price History,
Sembcorp Announcements,
Sembcorp Dividends & Corporate Actions,
Sembcorp News Articles


You May Also Like

SGX Stock / REIT Search


Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁