- Sembcorp delivered total returns of 7% in 2024, after the stellar performance of 62% and 73% in 2023 and 2022 respectively.
More subdued price action following stellar years in 2022-2023.
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- In FY24, Sembcorp reported a 9% fall in revenue to S$6.4b, but net profit rose 7% to S$1.0b. Excluding exceptional items and discontinued operations, group net profit was S$1.02b, comparable to FY23.
FY24 results within expectations.
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- Through Sembcorp’s contracting strategy (as of end 2024, 98% of the gas-fired power portfolio was underpinned by offtake contracts, with more than 60% of capacity locked in for over five years), this segment is now an anchor of the group’s earnings.
- The Integrated Urban Solutions segment posted a strong net profit before exceptional items of S$169m, following a turnaround in performance from the Urban business.
Raising dividend payout ratio to 40% in FY24 from 23% in FY23.
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