ST Engineering - UOB Kay Hian 2026-03-02: 2025 Results In Line; All Engines Firing With Upbeat Outlook; Sentiment To Remain Buoyant Amid US-Iran War

• Investors should stay invested for ST Engineering (SGX:S63)’s strong earnings growth. Sentiment towards ST Engineering is likely to stay buoyant with the on-going war in the Middle East.
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• Its strong contract win momentum is expected to sustain, as ST Engineering’s international defence sales gains good traction in Europe and the Middle East. We forecast a 15% core earnings CAGR for STE in 2026-28.

2025 results in line: Strong core earnings growth of 25% y-o-y.

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• higher-than-expected net interest expenses. Headline net profit dropped 34% y-o-y to S$463m due to one-offs (as previously well guided).

Segmental performance: CA beat, USS miss, DPS in line.

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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/.

Previous report by UOB:
2025-11-13 ST Engineering 9M25 - Strong Revenue And Orderbook; Strategic Review Of Loss-making I-direct Group A Key Positive.

Price targets by 2 other brokers at ST Engineering Target Prices.

Listing of research reports at ST Engineering Analyst Reports.

Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividend Payout Dates & Corporate Actions,
ST Engineering News