Seatrium - OCBC Investment 2024-08-02: Return To Profit

• Seatrium (SGX:5E2) returned to black with 1H24 net profit coming in at S$36m, on the back of strong project execution and improving margins.

Seatrium’s 1H24 results beat our expectations

• - Read this at SGinvestors.io -
• 1H24 EBITDA was up more than 8 times y-o-y at S$311m, while underlying EBITDA, which excludes the MH Wirth provision, came in at S$390m. This represents an improvement in underlying EBITDA margin from 8.6% in FY23 to ~9.8% in 1H24.
• - Read this at SGinvestors.io -
• Seatrium’s 1H24 revenue and net profit constituted 51.5% and 54.2% of our initial full year forecast, respectively.

Steady cadence of repair & upgrade contract wins

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-02-21 Seatrium - Eyes On The Target.

Previous report by OCBC:
2025-02-14 Seatrium - Double Happiness.

Price targets by 3 other brokers at Seatrium Target Prices.

Listing of research reports at Seatrium Analyst Reports.

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