Seatrium Ltd (SMBMF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining us at CTRIM's first half 2026 results briefing. My name is Amelia and I take care of investor relations for CTRIM. This morning, we have with us our CEO, Mr Chris Ong, our CFO, Dr Steven Loo. Chris and Steven will bring us through a short presentation before we open the floor to questions. Chris, please. Thank you, Amelia. Good morning and thank you for joining us today for CTREM's first half 2026 results briefing. Today's results centre on three key themes. First, despite macroeconomic uncertainties, we continue to deliver strong progress. While revenue maintains healthy momentum, our primary focus is driving margin efficiencies. Our cost optimisation and divestments are delivering real, sustainable benefits. Second, we remain well positioned to capture opportunities from a global pipeline of over $32 billion. Although the market was relatively quiet in the first half, we are actively engaged across all major energy markets and expect FID momentum to accelerate in the coming quarters. Our net order book remains healthy at $13.3 billion, providing clear near-term earning visibility with a higher quality project mix. Third, we are shifting from recovery to value creation. This means growing earnings, generating cash and building resilience by scaling our series build and adjacent services business. On the financial headline, revenue rose 5% to $5.6 billion in line with FY2028 steady-state target range of $10-12 billion. We continue to be focused on driving margin improvements through strong execution, quality projects and reducing overheads. Year-on-year gross profit margin rose to 8.6% versus 7.4% last year. This translated to a 54% year-on-year improvement in net profit to $212 million even if you exclude the one-off div...