ST Engineering 1H2026 Financial Statements, ST Engineering Results Presentation 1H2026
Singapore, 13 August 2026 - Singapore Technologies Engineering Ltd (ST Engineering) today reported its first half-year financial results ended 30 June 2026 (1H2026). The Group delivered strong revenue of $6.57b in the first half of 2026, up 11% year-on-year (y-o-y) from $5.92b, driven by growth across all three business segments.
Earnings growth rates outpaced revenue growth rates across all three segments. Group EBIT rose 23% y-o-y to $738m from $602m, Group Profit before tax grew 30% to $651m from $500m and Group Net Profit grew 27% y-o-y to $512m from $403m. Rebased[2] revenue and EBIT for the Group grew 14% and 27% y-o-y respectively. This performance reflected a more favourable business mix and disciplined execution across the Group.
The stronger earnings and favourable working capital movements drove higher cash generation, with Group operating cash flow rising 26% y-o-y to $960m from $761m.
1H2026 versus 1H2025 Segment Performance
Commercial Aerospace (CA): Revenue grew 15% y-o-y to $2.69b from $2.35b, driven by higher revenues from Engine MRO, Nacelles and spares sales. EBIT rose 29% y-o-y to $288m from $223m, contributed by higher revenue, a more favourable product mix and productivity savings.
Defence & Public Security (DPS): Revenue grew to $2.82b, up 7% y-o-y from $2.65b, contributed by all sub-segments. EBIT increased to $404m, up 10% y-o-y from $367m, contributed by all sub-segments. Rebased[2] revenue and EBIT for the segment grew 14% and 16% y-o-y, respectively.
Urban Solutions & Satcom (USS): Revenue grew 15% y-o-y to $1.06b from $921m, contributed by both Urban Solutions (+14%) and Satcom (+18%) sub-segments. The segment posted an EBIT of $46m, up from $12m a year ago, on higher revenue and an improved margin mix. In line with the guidance shared in February 2026, Satcom achieved a stronger first-half revenue, and its cost initiatives stayed well on track.
“The Group achieved strong revenue and earnings growth for the first half. Our earnings growth rate well outpaced the revenue growth rate. The robust performance was underpinned by the strength of our businesses and disciplined execution.
We are encouraged by our growth momentum and are confident of finishing the year strongly. At the same time, our strengthening order book and robust pipeline of opportunities stand us in good stead to drive continued revenue growth.”
Vincent Chong, Group President & CEO
Contract Wins and New Record Order Book
The Group secured ~$7.6b of new contracts in 1H2026. Of this, $2.9b was secured in the second quarter, comprising $1.2b from Commercial Aerospace, $1.2b from Defence & Public Security and $0.5b from Urban Solutions & Satcom. Separately, the Group added the US$1.3b (~S$1.7b) New Jersey Turnpike Authority E-ZPass Services (NJTA) contract to its order book as at 30 June 2026.
With these contract wins, the recognition of the NJTA contract, and after adjustments for revenue delivery, ST Engineering ended the first half with a very strong order book of $35.7b. The Group expects to deliver about $5.7b from this order book in the remaining months of 2026.
Dividend
The Board of Directors has approved a higher interim dividend of 5.0 cents per ordinary share for 2Q2026. Shareholders will receive the payment on 4 September 2026.
In addition, the Board has planned for a 3Q2026 interim dividend of 5.0 cents per share. The final dividend, subject to shareholders’ approval at the 2027 AGM, will be determined in line with the Group’s dividend policy.
Notes:
[1]Refers to Group revenue by products and services type.
[2]Excluding the Revenue of LeeBoy, and EBIT of LeeBoy and share of CityCab’s profits for 1H2025.
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Lina Poa
Head, Investor Relations
ST Engineering
Email: ir@stengg.com
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