ST Engineering - A Great Singapore Stock In My Portfolio
πππOne of my best performing Singapore stocks is $ST Engineering(S63.SI)$
ST Engineering posted a revenue of SGD 5.52 billion for 1H2024, a 14% growth year on year from SGD 4.86 billion, driven by higher contributions from all 3 business segments. Group EBITDA was SGD 786 million, up 11% year on year from SGD 711 million.
Group EBIT increased by 18% year on year to SGD 523 million from SGD 444 million. Gross Profit before tax was 19% higher year on year at SGD 416 million from SGD 351 million. Net Profit rose to SGD 337 million, an increase of 20% from SGD 281 million a year ago.
ST Engineering is enjoying multiple growth drivers backed by a record order book of SGD 27.7 billion. Its Earnings Growth is supported by Commercial Aerospace Division, Passenger to Freighter Conversion and increased Defence spending by its customers.
New contracts include a 2 year agreement in July to provide Safran Aircraft Engines with engine module repair offload support for CFM LEAP engines, a 3 year contract extension for LEAP 1B maintenance offload services with Safran Aircraft Engines and an air frame heavy maintenance contract to service A320s for an Asian airline.
In the Defence & Public Security Division, St Engineering won new contracts for its NATO standard 155mm and 40mm ammunition from European customers, amounting to over SGD 100 million.
ST Engineering's Urban Solutions and Satcom Division secured contracts from global customers. These include smart mobility contracts to supply its Passenger Information System in Australia, rail digital radio system upgrade for Taipei Metro in Taiwan and bus fleet maintenance management system in Singapore.
ST Engineering's largest shareholder is Temasek Holdings with about 50.8% of total issued shares as at December 29 2023.
What I love about ST Engineering is that it pays dividends every 3 months. It goes ex dividend on 22 August 2024 with the payment date scheduled for 5 September 2024. The current dividend yield is 3.59%.
I have invested in ST Engineering since 2021 and is one of my long term holdings. Since then it has rewarded me with both dividends and capital growth.
Go Long Go Strong Go ST Engineering!
@SGX_Stars @Tiger_SG @Tiger_comments @TigerStars @Daily_Discussion
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