ST Engineering - Steady Performance & Strong Order Book

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Steady Performance & Strong Order Book

FINANCIAL HIGHLIGHTS for the quarter ended 30 September 2013

 

2013

3Q

2012

3Q

Growth
%

2013

9M

2012

9M

Growth
%

Revenue ($m)

   1,550

 1,542

1

 4,692

  4,653

1

Earnings before interest and tax (EBIT) ($m)

157.9

 167.6

(6)

 478.8

  479.0

-

Other income, net ($m)

4.7

 6.3

(26)

19.3

 30.0

(36)

Finance income/
(costs), net ($m)

(3.8)

1.3

(398)

(11.3)

 (10.3)

(9)

Profit before tax (PBT) ($m)

170.3

184.7

(8)

 521.7

 534.6

 (2)

Profit attributable to shareholders ($m)

131.4

  146.4

(10)

 413.3

 424.0

 (3)

Earnings per share (cents)

     4.24

   4.77

(11)

 13.34

 13.82

 (3)

 

  • Commercial sales constituted 63% or $1.0 billion of 3Q2013 revenue
  • Order book of $12.5 billion at end September 2013, of which about $1.5 billion is expected to be delivered in the last quarter of 2013
  • Cash and cash equivalents including funds under management totalled
    $2.1 billion
  • Advance payments from customers totalled $1.9 billion

Group 3Q2013 Unaudited Results and ST Engineering Results Presentation 3Q2013

 

"For the first nine months of the year, the Group reported comparable Revenue and PBT. Compared to 3Q2013, 3Q2013 recorded comparable Revenue and a decrease in PBT by 8%.

The last quarter saw a pessimistic business sentiment due to speculation of the US Federal Reserve QE tapering, along with a challenging European environment and softening of the China economy. While these factors have weakened demand in several business areas, the Group has secured new commercial orders and several new contracts from governments around the world. We currently maintain a healthy order book of $12.5b. The Group's cash and cash equivalents including funds under management remains strong at $2.1b.

Our strong order book gives us the ability to ride out market volatilities in the future. The diversified competencies across our business sectors put us in a good position to face the uncertain business climate that lies ahead.

Barring unforeseen circumstances, the Group expects to achieve comparable Revenue and PBT for FY2013 over FY2012."

 ~ TAN Pheng Hock, President & CEO


N.B.: All currencies are in Singapore dollars

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