Seatrium - DBS Research 2024-03-18: Stronger Than Ever

Seatrium - Stronger Than Ever

Seatrium (SGX:S51) | SGinvestors.ioSeatrium (SGX:S51)
  • During Investor Day, Seatrium (SGX:S51) presented promising revenue growth targets until 2028 and post-merger cost savings, though EBITDA and profit guidance seem conservative.

Key takeaways from Investor Day

Distinctive competencies of One Seatrium.

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  • The proven track record with 1,300+ successful deliveries over 60-years, strong relationships with blue chip clientele (>90% repeat rate) and global network of yards spanning Singapore, Indonesia, China, Philippines, Brazil, the US, and UK, set STM apart from its Korean and Chinese peers.
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  • Another symbolic project – TenneT 2GW High Voltage Direct Current (HVDC) substation – Project management and engineering are handled by the Singapore yard while topsides construction is to be carried out by Singapore and Batam yards, while UK facilities will handle offshore logistic & maintenance subsequently, offering end-to-end delivery from EPC to offshore installation, commissioning & maintenance (EPCICM).

Unrivaled market positioning to ride on industry tailwinds and decarbonisation trend.

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Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @

Pei Hwa HO DBS Group Research | 2024-03-18

Previous report by DBS:
2024-02-27 Seatrium - Despite Write-Downs, Do Not Write-Off.

Price targets by 4 other brokers at Seatrium Target Prices.

Listing of research reports at Seatrium Analyst Reports.

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


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