- We continue to like CSE Global (SGX:544) for its positive outlook, led by a firm orderbook (S$467m as of Sep 2025) and a sequentially stronger 2H25 on better earnings traction.
- - Read this at SGinvestors.io -
3Q25 revenue within expectations.
- Revenue for 3Q25 came in at S$258m (+21% y-o-y) – in line with expectations. Revenue growth was led by the electrification segment, which grew +40% y-o-y to S$147m. The communications segment was flat at S$62m, while the automation segment grew 4% y-o-y to S$49m.
- The electrification segment’s revenue growth was mainly due to the progressive recognition of two major projects in the US that were previously secured in 2024. Growth from the automation segment was largely driven by projects from the US.
New orders secured amounted to S$146m.
- - Read this at SGinvestors.io -
- We believe there was some deliberate attempt to avoid higher-risk low-return projects in favour of higher-yielding projects, including data centres (DC) and ports.
Strong outlook with Amazon orders on the cards.
- Read more at SGinvestors.io.
