Singapore Tech Eng Ltd (SGGKF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to ST Engineering's first half 2024 results briefing. We will begin with a presentation by our Group CFO, Cedric Foo. Our Group 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. For those attending in person and via webcast, a very good morning and welcome to ST Engineering's first half results update. I would like to bring your attention to slide number two, which states, amongst others, that the Group's future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Slide three, please. This slide shows the agenda for today. I will be covering group highlights, business discussions for commercial aerospace, CA for short, Defence and Public Security, DPS for short, and Urban Solutions and SECCOM, which is USS for short. I will also cover contract wins and order book, debt profile, dividends and outlook. First, group highlights. Slide number five shows a summary of our first half 2024 results. Group revenue recorded a very strong 14% year-on-year increase to $5.5 billion for first half of 2024. Group EBIT was $523 million, up 18% year-on-year. Group profit before tax was up 19% year-on-year at $416 million. Group net profit up by a very healthy 20% year-on-year at $337 million, largely from business growth. Slide 6, from left to right, shows the revenue breakdown by segment, by type, and by location of our customers. First, revenue by segment. In first half 2024, CA contributed 40%, DPS 43% and USS 17%. DPS segment includes both local and international customers. It also covers commercial domains such as public security and safety, critical inf...