CSE Global - UOB Kay Hian 2025-08-18: 1H25 Earnings Steady, Positioned For Data Centre Upside

• CSE Global reported 1H25 earnings of S$16m (+9% y-o-y), accounting for 44% of our full-year estimate. This was in line with our expectations, as 1H typically contributes just over 40% of full-year earnings.
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Lower interim dividend.

• A 9% lower interim dividend of 1.14 cents/share was declared (1H24: 1.25 cents), representing a 49% payout ratio (1H24: 54%) as CSE Global maintains a strategic focus on reinvesting for sustainable growth.

Resilient top-line growth.

• - Read this at SGinvestors.io -
• On a constant currency basis, revenue would have risen 5% y-o-y to S$449m, underscoring resilient demand despite FX headwinds from the weaker US and Australian dollars.

Stable margins but rising opex.

• 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/.

Read also UOB's most recent report:
2026-05-18 CSE Global - Expect Softness In 1H26 But Long-term Outlook Remains Rosy.

Previous report by UOB:
2026-03-26 CSE Global - Positive On Record-high Data Centre-led Orders; Strong Growth Trajectory.

Price targets by 3 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