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Tang Kin Fei, Group President & CEO of Sembcorp Industries, said, “Sembcorp delivered a strong performance this quarter, with our Utilities business recording a 61% growth in net profit. Our acquisition of wind power assets in China will, upon completion, also serve to accelerate our growth in the renewable energy sector. At the same time, our Marine business secured S$3.0 billion worth of contracts this year, bringing its total orderbook to S$7.4 billion. Underpinned by resilient businesses, a healthy orderbook as well as a strong pipeline of projects, Sembcorp is well-positioned for sustainable growth.” FY2012 Outlook Utilities Taking into consideration our Singapore cogeneration plant’s planned major maintenance, our Utilities business is expected to deliver a steady performance in 2012. Through the execution of our pipeline of projects as well as the active pursuit of new growth opportunities, the business continues to be well-positioned to deliver long-term growth. Marine Our Marine business has a current net orderbook of S$7.4 billion with completion and deliveries stretching till second quarter of 2015. This includes S$3.0 billion in contract orders secured since the start of 2012. The fundamentals driving the offshore and marine activities remain strong. However, competition remains keen for all segments of the business. Urban Development While the slowdown in the global economy may affect the pace of land sales, our Urban Development business is expected to deliver a steady performance in 2012. Group The Group, underpinned by resilient businesses and a healthy pipeline of projects, will continue to make every effort to position our businesses for sustained growth. Highlights from Sembcorp’s 1Q2012 Financial Results • Turnover at S$2.4 billion, up 21% • Profit from Operations at S$286.1 million, up 4% • Net Profit at S$176.7 million, up 11% • EPS at 9.9 cents • ROE (annualised) at 15.8% • Strong 1Q2012 performance from Utilities *Profit from Operations = Earnings before Interest and Tax + Share of Associates and JVs’ results (net of tax). About Sembcorp Industries Sembcorp Industries is a leading energy, water and marine group operating across six continents worldwide. With facilities with over 5,600 megawatts of gross power capacity and over seven million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering as well as an established brand name in urban development. The Group has total assets of over S$12 billion and employs over 9,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index, several MSCI and FTSE indices as well as the Dow Jones Sustainability Asia Pacific Index. Sembcorp Industries press release |
Sembcorp Delivers Strong 1Q2012 Performance