CSE Global (544) H2 2024 earnings summary

Executive summary

• FY2024 revenue rose 18.8% year-over-year to S$861.2 million, led by Electrification and Automation segments.

• Net profit before exceptional items increased 63.2% to S$36.8 million, with net profit margin up 1.2pp to 4.3%.

• EBITDA grew 29.1% to S$82.2 million, with margin improving to 9.5%.

• Robust order book of S$672.6 million as of 31 December 2024 positions the group for continued growth.

• Total dividend payout for FY2024 is 2.40 Singapore cents per share.

Financial highlights

• Gross profit increased 20.7% year-over-year to S$241.2 million; gross margin stable at 28.0%.

• Operating profit and EBITDA rose 41.3% and 29.1% year-over-year, respectively.

• Interest expenses fell 15.9% to S$9.0 million due to improved working capital management.

• Net profit after exceptional item (arbitration settlement) grew 16.9% to S$26.3 million.

• Cash inflow from operating activities was S$33.1 million; net debt at S$72.1 million, net gearing at 0.28x.

Outlook and guidance

• Management expects to benefit from urbanisation, electrification, decarbonisation, and data centre demand.

• Expansion planned for Electrification business, especially in the data centre market.

• Strong order book supports healthy financial performance in 2025.