ST Engineering pops the champagne on $12.1b order book

$4.3b of which will be delivered this year.

According to OCBC, for FY12, revenue rose 6% YoY to S$6.4b, profit before tax climbed 10% YoY to S$723m and profit attributable to shareholders rose 9% to S$576m.

Allowance for doubtful debts and bad debt written off totalled S$22.3m, chiefly due to Land Systems in China. Some of the assets involved have been repossessed.

Here's more from OCBC:

STE is currently taking legal action and some write-backs may be seen later this year. Commercial sales accounted for 63% of revenue. Order book stood at S$12.1b as of end-2012 (3Q12: S$12.5b), of which S$4.3b is expected to be delivered in 2013.

The 4Q12 figure excluded the recent newbuild contract for eight vessels for the Singapore Navy, which we estimate could be worth ~S$1.6b.

All sectors recorded higher PBT for FY12 versus FY11. Aerospace, Electronics, Land Systems and Marine saw PBT increase by 9%, 11%, 6% and 5% YoY respectively.

Aerospace registered a PBT margin of 13.6% for 4Q12, versus 16.8% for 3Q12 due to seasonal weakness (winter in the US) and Guangzhou start-up costs. However, FY12 PBT margin of 15.0% improved over FY11's 14.4%.

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