CSE Global (544) H1 2024 earnings summary

Executive summary

• Revenue increased 22.8% year-over-year to S$428.9 million, driven by broad-based growth across all segments and regions.

• Net profit rose 36.4% year-over-year to S$15.0 million, with net profit margin improving to 3.5%.

• Operating profit grew 29.8% to S$23.0 million, supported by higher operating leverage.

• Cash generated from operating activities was S$15.8 million, reversing a cash outflow in the prior year.

Financial highlights

• Gross profit increased 23.6% to S$118.4 million, with gross margin stable at 27.6%.

• EBITDA improved 24.1% to S$38.3 million.

• Earnings per share (basic and diluted) rose to 2.31 cents from 1.79 cents year-over-year.

• Total comprehensive income surged 74.5% to S$18.9 million.

• Order book grew 32.7% year-over-year to S$692.3 million.

Outlook and guidance

• Healthy financial performance expected for 2024, supported by a strong order book.

• Focus on Electrification and Communications businesses to drive future growth.

• Recent acquisition of RFC Wireless, Inc. to enhance US market presence.

• Plans to expand engineering capabilities and pursue opportunities in urbanisation, electrification, and decarbonisation.