- Sembcorp (SGX:U96)'s FY24e's net profit is expected to fall due to major maintenance for 60 days at the Singapore power plant (we estimate S$66mil impact) and the handover of the Vietnam Phu My 3 power plant in Feb 2024.
- - Read this at SGinvestors.io -
The Positives
Singapore gas energy portfolio has locked in 99% of its capacity on contracts with average tenure of 12 years.
- These contracts are on a pre-determined dollar margin, with cost passed through to the customers. This provides visibility and stability to about 65% of earnings, making them highly visible and stable.
- - Read this at SGinvestors.io -
- Sembcorp’s 600MW hydrogen-ready cogen plant will be completed in early 2026.
Renewable capacity increased by 4GW to 13.8 GW, of which 9.8 GW (+18.1% y-o-y) is operational.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Peggy Mak Phillip Securities Research | https://www.stocksbnb.com/ 2024-02-22
Previous report by Phillip:
2023-11-08 Sembcorp Industries - Investing S$14bn To Build Renewable Portfolio.
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
