- CSE Global delivered a solid FY24. Core PATMI surged 63% y-o-y to S$36.8m, excluding the S$10.4m one-off arbitration settlement, above ours and consensus.
- Net profit margin rose to 4.3% from 3.1% in FY25, mainly due to higher operating leverage.
- - Read this at SGinvestors.io -
Great start to FY25
- CSE Global has a strong orderbook of S$672.6m and flow orders now account for only 69% instead of 87% a year ago. This means there’s now a bigger proportion of large greenfield projects in its orderbook, which will be executed in the next 2-3 years.
- - Read this at SGinvestors.io -
- All in all, we expect net margins to further improve in FY25 while CSE Global's revenue growth to be around 10-15% y-o-y.
Lowers FY24 dividends for capex needs – 50% payout
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybanktrade.com.sg/ 2025-02-27
Previous report by Maybank:
2025-01-20 CSE Global - Drill Baby Drill.
Price targets by other brokers at CSE Global Target Prices.
Listing of research reports at CSE Global Analyst Reports.
Relevant links:
CSE Global Share Price History,
CSE Global Announcements,
CSE Global Dividend Payout Dates & Corporate Actions,
CSE Global News
