ST Engineering posts 11% revenue growth in Q1, bags $4.8b new contracts

Defence, aerospace, and urban solutions units all posted revenue growth.

ST Engineering reported an 11% year-on-year (YoY) increase in revenue to $3.26b in the first quarter (Q1) of 2026, according to its market update filed with the Singapore Exchange (SGX).

All three business segments for the company recorded higher revenue during the quarter. Revenue from the Defence & Public Security segment rose 7% YoY, whilst Commercial Aerospace grew 15% and Urban Solutions & Satcom increased 18%.

ST Engineering said growth in Commercial Aerospace was driven by higher engine maintenance, repair and overhaul (MRO) work, and increased nacelle deliveries.

The company secured $4.8b in new contracts during the quarter, bringing its order book to $34.5b as at 31 March.

New contract wins included a $468.79m (€315m) maintenance, repair, and overhaul contract for the Qatar Emiri Land Forces and a $600m subcontract related to missile gun boats for the Kuwait Naval Force.

Separately, ST Engineering said it secured two smart mobility projects in the Middle East with a combined value exceeding $100m. The projects cover intelligent transport system maintenance in Qatar and deployment of its GoParkin smart parking solution in Jordan.

ST Engineering also cited contracts involving artificial intelligence-enabled command-and-control systems and graphics processing unit (GPU) infrastructure projects.

The company declared an interim dividend of 4.0 cents per share.

In its filing, ST Engineering said revenue exposure to the Middle East accounted for less than 3% of group revenue and that the financial impact from the regional conflict was “not material” based on its current assessment.

($1 = US$0.78 = €0.67)