CSE Global (544) H2 2024 earnings summary

Executive summary

• Revenue grew 18.8% year-over-year to S$861.2 million in FY2024, driven by Electrification and Automation segments in the Americas and Asia Pacific.

• Net profit (excluding exceptional items) rose 63.2% to S$36.8 million, with net profit margin up to 4.3%.

• EBITDA increased 29.1% to S$82.2 million, reflecting improved operating leverage.

• Order book at year-end was S$672.6 million, with Electrification contributing 58.7%.

Financial highlights

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

• Operating profit rose 41.3% to S$54.2 million; operating margin improved to 6.3%.

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

• Cash generated from operations was S$33.1 million, down from S$55.9 million in FY2023.

• Net asset value per share increased to 36.24 cents.

Outlook and guidance

• Positioned for healthy performance in 2025 with S$672.6 million order book.

• Focus on Electrification and Communications to benefit from data centre demand.

• Plans to expand engineering capabilities and technology solutions for urbanisation, electrification, and decarbonisation trends.

• Global economic outlook and inflationary pressures remain key uncertainties.