- Sembcorp’s 2024 results beat our and consensus expectations, with the highlight being a meaningful step-up in its dividend and payout ratio which management emphasised was sustainable given its strong cashflow generation.
- - Read this at SGinvestors.io -
Better-than-expected results with a generous dividend the highlight.
- Sembcorp Industries (SGX:U96) reported revenue of $6.4b (-9% y-o-y), EBITDA of S$1.7b (-3% y-o-y) and net profit before exceptionals of S$1.02b, reflecting the resilience of its business model. The results include S$169m in Deferred Payment Note income which rose 27% y-o-y as well as 1.5 months of contribution from its newly purchased stake in Senoko Energy. The results beat our and consensus estimates despite a maintenance shutdown at its Sakra plant in 1H24.
- - Read this at SGinvestors.io -
- During the results call, management emphasised that this higher dividend payout ratio is sustainable in the foreseeable future and underscores its belief in the strong cash generation ability of all its business segments.
Introducing its strategic reorganisation and leadership.
- 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/ 2025-02-28
Previous report by UOB:
2024-08-07 Sembcorp Industries - A Resilient Performance In 1H24 That Beat Expectations.
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
