Singapore Technologies Engineering has reported earnings of $702.3 million for its FY2024, up 19.7% y-o-y. Revenue in the same period was up 11.6% y-o-y to $11.3 billion, with contribution across its three main business segments.
In line with the higher earnings, the company plans to pay a higher final dividend of 5 cents per share for 4QFY2024, up from the usual 4 cents per quarter. This brings its full-year payout to 17 cents, up from 16 cents.
In 2024, the company won $12.6 billion in new orders, including $4.3 billion secured in the most recent 4QFY2024. This brings its total order book to $28.5 billion with $8.8 billion of it to be delivered this current FY2025.
“We delivered a very strong set of results in 2024 despite an uncertain and challenging environment," says group CEO Vincent Chong.
"We are confident that our strong fundamentals will continue to position us well, even as we confront a fast-changing landscape.
"We have a robust order book and a competitive market position which will underpin our continuing revenue growth and performance," he adds.
ST Engineering shares closed at $5.06 on Feb 26, unchanged for the day and up 27.14% in the past 12 months.
