- We continue to like CSE Global (SGX:544) for its growth driven by US$1.5bn orders from Amazon over the next five years.
- FY25 earnings were in line, with better revenue traction. We increase our FY26-27F earnings marginally in anticipation of the Amazon orders and raise our CSE Global's target price to 22x FY26F P/E from 20x on potential fund flow into the Singapore market.
- - Read this at SGinvestors.io -
FY25 earnings within expectations.
- CSE Global reported FY25 core earnings of S$36m (+5% y-o-y), in line with our expectations. Revenue grew 13% y-o-y to S$967m, slightly ahead of our expectations – driven by broad-based growth across the electrification (S$507m, +17% y-o-y) and communication (S$262m, +13% y-o-y) segments.
- - Read this at SGinvestors.io -
- Overall revenue growth came from Americas, as Asia-Pacific and Europe, Middle East and Africa (EMEA) revenues fell slightly.
Orderbook stood at S$710m.
- Read more at SGinvestors.io.
