- Seatrium provided a 3Q24 business update – No financials were shared beyond the fact that the company’s net order book stood at S$24.4b as at 30 Sep 2024 (30 Jun 2024: S$26.1b), with deliveries stretching to 2031.
- - Read this at SGinvestors.io -
Steady cadence of project delivery and contract wins
- Seatrium achieved several project milestones in 3Q24, including the commencement of fabrication works for high-voltage direct current (HVDC) Offshore Converter Platform IjmuidenVerBeta, and the installation of a 13,000-tonne Offshore Converter Platform at the Sofia Offshore Wind Farm in the UK. Its Repair & Upgrades division also completed 192 projects in 9M24.
- - Read this at SGinvestors.io -
- Separately, it has also signed a Letter of Intent (LOI) with Penta-Ocean Construction (POC) to carry out engineering work for a 5,000-ton Heavy Lift Vessel (HLV) project for the Japan wind mark; contract award is expected in 1Q25, subject to POC’s final investment decision (FID).
Management reiterated positive outlook despite macroeconomic uncertainties
- 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/ 2024-11-12
Previous report by OCBC:
2024-08-02 Seatrium - Return To Profit.
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
