ST Engineering’s FY15 profits dip 0.5% to $529m

Blame it on weak performance from its marine sector.

Bruised slightly by an underperforming marine division, ST Engineering’s FY15 net profit dipped 0.5% YoY to $529m.

According to the company’s media release, revenue slipped 3.1% YoY to around $6.34m during the year, despite marginal increases in most of its segments during the year.

Revenue and PBT for STE’s aerospace arm stood ar $2.09b and $290.6m respectively. Revenue for its electronics segment was up 8% YoY at $1.71b from $1.58b in FY14 with PBT remaining roughly the same at $191m. The land systems division posted a comparable revenue of $1.4b, while PBT jumped 16% YoY to $65m.

Meanwhile, STE’s marine sector posted revenue of $96m, reflecting a 29% YoY plunge from $1.43b. Further, weak shipbuilding performance from both Singapore and US operations weighed PBT by 28% YoY to $88.3m, from $122.8m in FY14.

The company also reports that its orderbook stood at a solid $11.7b, with $3.8b of it slated for delivery this year.

For FY16, STE expects revenue to show improvement, but PBT to remain at around the same level as in FY15.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia