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Sembcorp posts 13% drop in 3Q earnings to $71 mil, dragged by poor-performing Sembmarine

Jeffrey Tan
Jeffrey Tan11/14/2019 07:00 PM GMT+08  • 2 min read
Sembcorp posts 13% drop in 3Q earnings to $71 mil, dragged by poor-performing Sembmarine
SINGAPORE (Nov 14): Following a wider net loss incurred by its listed subsidiary Sembcorp Marine, Sembcorp Industries announced a weak set of results for 3Q19 ended Sept 30.
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SINGAPORE (Nov 14): Following a wider net loss incurred by its listed subsidiary Sembcorp Marine, Sembcorp Industries announced a weak set of results for 3Q19 ended Sept 30.

During the quarter, the company reported a 19% y-o-y decline in revenue to $2.45 billion, due to weaker revenue contributions from its energy and marine businesses.

Sembcorp says its energy business recorded a lower provision of energy products and related services from its operations in Singapore and UK. This was compounded by the absence of revenue contribution from South Africa post-divestment.

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