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Seatrium (5E2) investor relations material

Seatrium Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Delivered strong financial performance in H1 2025, with revenue up 34% to S$5.4B and net profit up 301% to S$144M, driven by disciplined execution, operational resilience, and a robust order book.

  • Achieved major project milestones, including FPSO deliveries, 101 repairs and upgrades, entry into Japan's offshore wind market, and the world's first full-scale turnkey CCS retrofit.

  • Maintained a diversified order book of S$18.6B, with S$6.3B in renewables and green solutions, providing revenue visibility through 2031.

Financial highlights

  • Revenue rose 34% year-over-year to S$5.4B, net profit increased 301% to S$144M, and EBITDA grew 31% to S$407M.

  • Gross margin doubled to 7.4% from 3.7% in H1 2024, and return on equity improved to 4.5% annualized.

  • Underlying net profit (excluding legal/corporate claims) was S$133M, up 16% year-over-year.

  • Net debt to EBITDA improved to 1x from 2.9x, and net gearing stood at 0.1x.

  • Cost of debt reduced to 4.4% from 4.9% at end-2024; liquidity with cash and undrawn facilities over S$3.5B.

Outlook and guidance

  • Focused on converting a S$30B near-term project pipeline into secured orders, improving margins, and meeting 2028 financial targets.

  • Expect continued margin expansion through series-built projects, operational efficiency, and cost control.

  • Cautious optimism amid global volatility, with energy transition and security as key growth drivers.

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Frequently asked questions

Seatrium Limited, formerly known as Sembcorp Marine, is a Singapore-based company that provides engineering solutions for the offshore, marine, and energy industries. The company offers services such as the design, construction, and repair of offshore platforms, specialized vessels, and other marine infrastructure. Seatrium serves a range of sectors, including oil and gas, renewable energy, and shipping, with a focus on sustainable and innovative engineering solutions. The company is headquartered in Singapore, and its shares are listed on the Singapore Exchange.

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