Singapore Tech Eng Ltd (SGGKF) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to ST Engineering's first half 2023 results briefing. We will begin today with a presentation by our group CFO, Cedric Foo. Our group's president and CEO, Vincent Chong, will then give his remarks. After that, we will open up the floor to a Q&A session. Without further ado, may I invite Cedric to give his presentation, please. Thank you very much. For those attending in person here, very warm welcome. and those via the webcast, similar warm welcome and good morning. Let me add my welcome to ST Engineering's first half 2023 results update. First, I would like to bring your attention to slide two, which states that amongst others, the group's actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Slide number three is the agenda for today. I will be covering group highlights, business discussions, segment financiers, and order book, debt profile, and finally the CEO's outlook. Thereafter, Vincent will provide his opening remarks, followed by Q&A. First group highlights. Slide 5 shows a summary of our first half 2023 results. It's a very strong set of results. Group revenue recorded a 14% year-on-year increase to $4.9 billion. Group EBITDA was strong at $711 million, up 16% year-on-year. Group EBIT was $444 million, up 15% year-on-year. Group profit before tax was comparable year-on-year at $351 million, and group net profit stood at $281 million. more or less flat for first half 2023 versus first half 2022. But it actually belies the strong underlying business performance, which I will cover later. Slide six. The pie chart on the left shows commercial aerospace constituted 38% of group revenue. DPS, 44%. USS, 18%. DPS segment includes both local and internatio...