CSE Global Q1 revenue rises 29.1% as order intake jumps 74.6%

Electrification led the growth as order book climbed to $716m as at end-March. 

CSE Global Limited reported a 29.1% year-on-year(YoY) increase in revenue to $265.2m for the first quarter (Q1) ended 31 March, driven mainly by its electrification segment, according to its interim business update.

Revenue growth was led by the electrification business, which increased 50.1% to $146.3m, supported by stronger contributions from the Americas region, particularly data centre-related projects. The segment accounted for 55.1% of group revenue for the quarter.

Communications revenue rose 18.5% to $68.6m, supported by operations in Australia and New Zealand as well as contributions from a recently acquired subsidiary. 

Automation revenue was broadly stable atm$50.3m, up 0.5% YoY.

Order intake rose 74.6% YoY to $271.2m, whilst order book stood at $716.0m as at 31 March, up 16.2% from a year earlier.

On order intake, Electrification rose 393% to $177.8m, driven by continued demand from the data centre market in the US, and accounted for about 65.6% of total group intake.

Communications increased 20.8% to $76.9m, supported by acquisitions and stronger flows in Asia Pacific, whilst Automation declined 70.4% to $16.4m.

CSE Global Managing Director and Chief Executive Officer Lim Boon Kheng said the group’s performance reflected “healthy order intake” and continued progress across key business areas, whilst maintaining a focus on disciplined tendering, execution and cost management.