John Cheong - CSE Global (SGX:544)'s 1Q26 revenue of S$265m (+29% y-o-y) is in line with our expectation, forming 25% of our forecast. This growth was driven mainly by a stronger performance from the electrification segment in the Americas region.
All segments delivered revenue growth.
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Communications revenue grew 19% y-o-y to S$69m, supported by contributions from Australia and New Zealand operations, as well as revenue from a recently acquired subsidiary.
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Automation revenue remained relatively stable y-o-y at S$50m (+0.5% y-o-y).
Orderbook remains robust.
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CSE Global recorded a robust orderbook of S$716m (+16% y-o-y) as of 31 Mar 26, driven by order wins of S$271m (+75% y-o-y), providing a healthy earnings growth outlook.
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- Communications-related orders rose 21% y-o-y to S$77m, driven by contributions from recent acquisitions.
- Automation orders came in weaker, falling 70% y-o-y to S$16m.
Electrification remains the growth engine.
- Read more at SGinvestors.io.
