SINGAPORE: Seatrium has recorded earnings of S$157 million for the financial year ending December 31, 2024, marking its first full-year profit since 2017. This is a major turnaround from the S$2 billion net loss recorded in FY2023. To mark the turnaround, the company also announced plans to pay a dividend of 1.5 cents per share, as reported by The Edge Singapore.
Excluding one-off items, Seatrium’s underlying net profit reached S$200 million, compared to an underlying net loss of S$28 million in the previous year. Revenue also grew 27 per cent year-on-year (YoY) to S$9.2 billion, supported by strong project execution.
Seatrium also secured S$15.2 billion in new orders, pushing its order book up by 43 per cent to S$23.2 billion.
Seatrium CEO Chris Ong expressed confidence in the company’s progress. “We are heartened to have turned the corner,” he said. He added that the company will continue working to remain profitable and resilient while delivering sustainable value to all its stakeholders. /TISG
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