FY2023 Results Summary

• Revenue: SGD 7.29B

  Increased 275% Year-on-Year

  Revenue increased mainly due to the consolidation of projects following the combination of Keppel O&M, strong project execution and higher repairs and upgrades activities.

• Net Profit: -SGD 1.9B

  Increased 643% Year-on-Year

  Net loss was higher due to the material write-down of non-core assets and obsolete inventories arising from the management's strategic review, higher costs for certain projects, higher professional fees, higher net finance costs and provision for legal and corporate claims, mitigated by higher contribution from higher revenue recognition.

• Return on Equity (ROE): -30%

• Debt to Equity Ratio: 46%

  Decreased 44% Year-on-Year

• Outlook

  With the successful completion of the integration and strategic review, the Group is expected to benefit from its deep customer relationships and derive greater synergies from an enlarged business footprint, operational scale and enhanced capabilities. Seatrium is committed to executing its robust order book into quality and timely project deliveries, improving its earnings and building a resilient business. The Group is focused on delivering an improved financial performance in FY2024.

  Sources: Seatrium Limited Financial Report