- Strong results beat on higher-than-expected margins.CSE Global (SGX:544)’s 2024 net profit of S$26m (+17% y-o-y) beat consensus and our expectations by 4%/18%. Excluding the one-off arbitration settlement of US$8m (S$10.4m), core net profit surged 63% y-o-y to S$37m. This was on the back of revenue growth (+19% y-o-y) and corresponding improved operating leverage.
- - Read this at SGinvestors.io -
Lower final dividend to reinvest in long-term growth.
- A 23% lower final dividend of 1.15 cents/share was proposed (2023: 1.5 cents). With the interim dividend of 1.25 cents/share (2023: 1.25 cents), total CSE Global's dividends amounts to 2.4 cents/share (2023: 2.75 cents) and translates to a healthy 64% payout ratio.
- - Read this at SGinvestors.io -
Continued revenue growth across all segments.
- Electrification revenue continued to be the largest revenue contributor (around 50%), growing 30% y-o-y to S$435m from major contracts secured in 2023 and new projects in 2024.
- Communications revenue saw a 5% growth to S$232m, due to new acquisition contributions.
- Automation revenue also rose 14% y-o-y to S$194m, fuelled by stronger contributions from the Americas and Asia Pacific regions.
Healthy order win momentum supports revenue growth.
- 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/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-02-27
Previous report by UOB:
2025-01-07 CSE Global - Good Buying Opportunity As Company Scales Up In The US.
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
