ST Engineering - CGSI Research 2024-02-29: Defensive Growth Ahead

• ST Engineering (SGX:S63)'s 2H23 net profit of S$306m (+20% y-o-y) was 11% above our forecast on strong defence margins. Borrowings fell 7% y-o-y on debt repayment.

TransCore earnings accretive; USS to hit new highs in 2024F

• - Read this at SGinvestors.io -
• For Satcom, ST Engineering shared at its 2H23 results briefing that chip shortage issues have improved, and it expects to benefit from reduced costs following transformation initiatives that it conducted throughout 2H23.
• - Read this at SGinvestors.io -

Defence margins likely to sustain; international push bearing fruit

• Read more at SGinvestors.io.

Above is an excerpt from a research report by CGSI Research.
Clients of CGS International may access the full PDF report @ https://itrade.cgsi.com.sg/.

Read also CGSI's most recent report:
2025-05-10 ST Engineering - Defence Remains At The Front Seat.

Previous report by CGSI:
2025-03-18 ST Engineering - Entering A Multi-Year Earnings Upcycle.

Price targets by 5 other brokers at ST Engineering Target Prices.

Listing of research reports at ST Engineering Analyst Reports.

Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividend Payout Dates & Corporate Actions,
ST Engineering News