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SIA Engineering (SGX:S59)'s 2HFY26/FY26 PATMI rose 20.9%/21.0% y-o-y to S$85.6mil/S$168.9mil, forming 47.8%/94.4% of our FY26e estimates. This was primarily driven by a 22.5% surge in associates and JV income in FY26.
- - Read this at SGinvestors.io -
The positives
(+) Strong associates/JV earnings.
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Share of profits from associates and JV rose 23.3%/22.5% y-o-y to S$74.0mil/S$145.3mil in 2H26/FY26. The engine and component segment was the primary driver, up 23.1% to S$139.2mil. There was 20% higher engine inductions and doubled test facility capacity.
- - Read this at SGinvestors.io -
The negatives
(-) Gestation losses in subsidiaries persist.
- Read more at SGinvestors.io.
Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.
Hashim Osman Phillip Securities Research | https://www.poems.com.sg/ 2026-05-18
Previous report by Phillip:
2025-11-12 SIA Engineering - Revving up capacity.
Price targets by 3 other brokers at SIA Engineering Target Prices.
Listing of research reports at SIA Engineering Analyst Reports.
Relevant links:
SIA Engineering Share Price History,
SIA Engineering Announcements,
SIA Engineering Dividend Payout Dates & Corporate Actions,
SIA Engineering News
