Sembcorp Industries - UOB Kay Hian 2024-08-07: A Resilient Performance In 1H24 That Beat Expectations

• The resiliency of Sembcorp Industries (SGX:U96)’s business model came through in 1H24, with the company reporting a net profit of S$540m (+2% y-o-y) that beat our and market expectations. This was despite the maintenance shutdown of its Singapore cogeneration plant and weakness in its renewables business in China.

Better-than-expected 1H24 results despite maintenance shutdown.

• - Read this at SGinvestors.io -
• Sembcorp disclosed that operating efficiencies led to a shorter-than-expected shutdown that led to around S$10m in cost savings against the budget.
• - Read this at SGinvestors.io -

Resilience in Singapore conventional energy portfolio.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-02-28 Sembcorp Industries - Strong 2024 Results With Medium-term Growth Intact.

Price targets by 4 other brokers at Sembcorp Target Prices.

Listing of research reports at Sembcorp Analyst Reports.

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