CSE Global has reported a 4% y-o-y growth in revenue for 1QFY2025 ended March 31, to $205.5 million.
The group’s order book declined 14.4% y-o-y to $616 million in 1QFY2025, and order intake declined 11.3% y-o-y to $155.3 million in the reporting period.
The group’s revenue growth is driven by its communications and automation business segment in America. By segment, revenue contributions from the electrification, communications and automation business segments were 48%, 28% and 24%, respectively.
For 1QFY2025, revenue in the electrification business segment declined 4.1% to $97.5 million, mainly attributable to lower revenue contribution from Australia and New Zealand, as a result of some project delays.
The electrification business segment secured $36.1 million of new orders, which constitutes 23.2% of total order intake during the quarter.
The communications business saw revenue increasing 7.3% y-o-y to $57.9 million, largely driven by the revenue contributions from a newly acquired subsidiary, RFC Wireless, Inc.
The communications business segment accounted for approximately 41.0% of the total order intake in 1QFY2025, securing $63.7 million in new orders.
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With a substation radio communication enhancement project secured in the Asia Pacific region and recent acquisitions that have expanded the communications business’s geographic footprint and market coverage in the US, 1QFY2025 order intake rose 20.4% y-o-y.
Automation business revenue for 1QFY2025 grew 19.6% y-o-y higher from revenue recognised for control system projects in the USA.
The automation business segment clinched $55.6 million of new orders in 1QFY2025. This is
mainly due to a large contract valued at approximately $13.1 million for a chemical injection
skid predominantly used in the oil and gas industry in the USA.
Shares in CSE Globalclosed flat at 44.5 cents on May 14.
