Singapore Technologies Engineering (ST Engineering)

Looking beyond quarterly fluctuations in ST Engineering's growth story

SINGAPORE (Nov 17): ST Engineering’s latest third-quarter results have shown improvements in profitability in three of its four key business units of aerospace, electronics, land systems and marine.

In addition to the main four, there is an “others” unit, which lumps together shared services, new ventures and other related activities. It reported a loss of $7.3 million.

ST Engineering’s latest third-quarter results have shown improvements in profitability in almost all its business units.

Analysts keep ST Engineering at 'buy' on strong order book; potential earnings upgrade

SINGAPORE (Nov 15): OCBC Investment Research and RHB Research are maintaining ST Engineering at “buy” with target prices of $3.95 and $3.97 respectively.

ST Engineering reported a 1% y-o-y rise in revenue to $1.6 billion and a 5.3% increase in net profit to $134.6 million in 3Q18, bringing 9M18 net profit to $369.8 million.

Both revenue and net profit for aerospace grew 13% y-o-y to $689 million and $55.4 million respectively in 3Q18, led by broad-based growth across business units.

ST Engineering posts 5% increase in 3Q earnings to $135 mil

SINGAPORE (Nov 14): ST Engineering reported a 5.3% increase in 3Q18 earnings to $134.6 million, compared to $127.8 million in 3Q17.

This brings 9M18 earnings to $369.8 million, 10.5% higher than $334.5 million in 9M17.

During the quarter, revenue rose 1% to $1.63 billion from $1.61 billion last year, mainly due to higher contributions from the group’s Aerospace and Electronics sector, but partially offset by declines from its Land Systems, Maine and Others sectors.

ST Engineering wins $590 mil of aerospace contracts in 3Q

SINGAPORE (Oct 15): ST Engineering’s aerospace business sector has secured new contracts totalling $590 million in value in 3Q18 for services ranging from airframe, engine and component maintenance, to engine wash.

A number of the contracts are multi-year agreements, including a four-year ATR 72 landing gear overhaul agreement from an Asian airline; a five-year contract extension to maintain the PW4000 thrust reversers and inlets of an European operator’s A300-600 fleet; and heavy maintenance agreements from American freight operators.

ST Engineering reports 10% rise in 2Q earnings to $117.5 mil

SINGAPORE (Aug 9): Singapore Technologies Engineering (ST Engineering) saw its earnings grow 10% to $117.5 million for the 2Q ended June, from $106.8 million a year ago.

This was largely attributable to higher profitability from the Aerospace and Electronics sectors, which saw 2Q18 net profit rise by 26% and 22%, respectively.

The improved performance from Aerospace was largely due to the gain on divestment of an associate, Airbus Helicopters Southeast Asia, as well as share of higher profits from associates and joint ventures.

Sky's the limit for ST Engineering

SINGAPORE (Jan 18): CIMB is maintaining its “add” recommendation on ST Engineering with a target price of $3.85.

This came on the back of the group announcing on Wednesday that its aerospace arm secured $510 million in new contracts for 4Q17, bringing FY17 contract wins to $2.8 billion, an 8% increase y-o-y.

See: ST Engineering's aerospace arm secures $510 mil in contracts for 4Q17

ST Engineering's aerospace arm secures $510 mil in contracts for 4Q17

SINGAPORE (Jan 17): ST Engineering says its aerospace arm, ST Aerospace, has secured new contracts worth about $510 million in 4Q17, which brings the total to $2.8 billion for FY17.

The contracts are for ST Aerospace’s services that range from maintenance and landing gears repair to pilot training.

The airframe maintenance contracts include multi-year agreements to provide A- and C-checks for Boeing aircraft including the 777 and 747, as well as support for other platforms including the MD-11 and A320.

Where to invest in 2018?

SINGAPORE (Dec 25): From the en bloc craze to meteoric spikes in tech stocks, 2017 has been coloured by significant asset price gains. Driven by the rally in blue chips, the Straits Times Index is up 18.5% in the year to Dec 18, a notable improvement from its 0.7% dip in 2016. With a recovery in commodity prices seemingly underway and persistent bullish sentiment in spite of geopolitical risks, the past year has been an upbeat one for investors.

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ST Aerospace wins 15-year contract for aircraft component support for Gulf Air

SINGAPORE (Nov 20): ST Aerospace, the aerospace arm of ST Engineering, has won a 15-year contract for Boeing 787 aircraft component support by Gulf Air.

Under the agreement, ST Aerospace will provide comprehensive component Maintenance-By-the-Hour (MBH) support covering component exchange, repair, overhaul, modification, reliability monitoring and logistics services for Gulf Air’s new fleet of Boeing 787-9 aircraft.

The group’s trademark MBH programme is known for its flexibility and high level of customisation.

ST Aerospace wins contracts worth $530 mil in 3Q

SINGAPORE (Oct 23): ST Engineering says its aerospace arm, ST Aerospace, has secured new contracts worth about $530 million in 3Q17.

The contracts included services ranging from heavy airframe and engine maintenance, component repair and overhaul to cabin retrofit.

The heavy airframe maintenance contracts included long-term agreements to support a range of aircraft platforms from MD-11, Boeing 777 and Boeing 757 to A300 for freight operators.

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