- ST Engineering reported FY24 PATMI of S$702.3m, +19.7% y-o-y. Final quarterly ST Engineering's dividend of S$0.05 was 1 cent higher y-o-y.
Beat & raise; Early signs of SATCOM turnaround
- - Read this at SGinvestors.io -
- Order book grew mid-single digit, led by strong wins in the last quarter. Satellite communications business showed improvement with low-teen revenue growth for the quarter and positive EBIT.
All engines firing
- Full year revenue of S$11.3b grew 12% y-o-y. Group EBIT and PATMI of S$1.1b and S$702m rose 18% and 20% y-o-y.
- Revenue for commercial aerospace rose 12% y-o-y, led by higher sales for engine MRO, nacelles, composite panels and PTF. PTF business recorded S$706m in revenue, surpassing 2021 Investor Day revenue target of S$700m set for 2026.
- - Read this at SGinvestors.io -
- USS revenue was flat. However, Satcom business showed early signs of improvement, recording 12% y-o-y revenue growth in 4Q despite weaker full-year revenue vs same period last year.
Continued efficiency gains, Order book expands
- Read more at SGinvestors.io.
