- 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 the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-08-02
Previous report by OCBC:
2024-05-28 Seatrium - Hoist The Sails.
Price targets by 2 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
