Our manufacturing business continued to ramp up... while we steadily raised our freighter conversion production to meet customers’ demands Our P2F business reached a milestone with the redelivery of its 100th converted freighter aircraft. Passenger-to-Freighter (P2F) Conversions To capture opportunities in growth regions such as the Japanese air cargo market, EFW entered into a partnership with MRO Japan, which will see the latter becoming our first third-party conversion site for Airbus narrowbody P2F aircraft in Japan. EFW also received the validation of its Supplemental Type Certificate from Brazil’s National Civil Aviation Agency for the A321P2F platform, enabling it to provide the freighter conversion solution to the wider South American market. To provide customers with more integrated solutions, EFW attained the European Union Aviation Safety Agency’s Continuing Airworthiness Management Organisation (CAMO) approval, which allows it to provide worldwide airworthiness management and technical services for passenger and freighter aircraft. With the addition of CAMO approval to its other certifications, EFW can now offer operators end-to-end, turnkey solutions in design development, freighter conversion, maintenance, aviation supply chain management and CAMO support. DID YOU KNOW? Whenever you step into an Airbus passenger aircraft, you are walking on composite floor panels produced by EFW, our JV with Airbus. Lightweight and loadbearing, the floor panels on all Airbus passenger and freighter aircraft are produced by EFW, which has decades of experience in producing composite products for cabin interiors. Wing-in-Ground Craft To advance the AirFish WIG craft’s entry to market, our JV, ST Engineering AirX (AirX), entered into a collaboration with Singapore’s Maritime and Port Authority on sea trials of the WIG craft off Singapore’s shores, and with Bureau Veritas to classify and certify the craft. We also partnered the Technology Centre for Offshore and Marine in Singapore on design development, testing and validation of the AirFish to enhance its safety and performance. We also signed an LOI with Eurasia Mobility Solutions for an order of up to 10 AirFish WIG craft with options for 10 more. When delivered progressively from 2026, the AirFish will be used to serve Turkey’s tourism and private transportation sectors. Unmanned Aircraft Systems We made new inroads in Thailand with the first sale of our unmanned aircraft system solution, DroNet, for power line inspections. In Singapore, we inked a three-year contract extension with PUB, Singapore’s national water agency, for the monitoring of reservoirs and also clinched a major contract with a law enforcement agency for deployment and operations across the island. 27 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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