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Utilities

Sembcorp Industries Ltd.

  • 2.52 SGD
  • -0.02
  • -0.79%
  • Singapore
    Mar 25, 2019
  • Ticker
    SES(U96)
  • Prev. close
    2.54
  • Market cap (SGD)
    4,540.37M
  • Market cap (USD)
    3,361.67M
  • Shares
    1,787.54M

Company Background

One of Singapore's biggest conglomerates, Sembcorp Industries has three core businesses: marine, utility and urban development. The marine and offshore business is conducted by publicly-listed subsidiary Sembcorp Marine, whose jack-up rigs and other platforms are used in major offshore oil production sites all over the world. At the west tip of Singapore, a major development to consolidate all existing shipyards to form one large-scale facility, dubbed Sembmarine Integrated Yard @ Tuas, is underway.

In the urban development business, Sembcorp is playing a key role in several government-led industrial park development projects in Vietnam and China. The utility business, which ranges from gas to power generation to water processing, was accelerated by current Group President and CEO Tang Kin Fei. Joining Sembawang Corp., the predecessor to Sembcorp, in 1987, Tang reached the top post in 2005. With Tang at the helm, the company won the bid for a water desalination and power plant project in the United Arab Emirates in 2006, its first key project in the Middle East in this area. Temasek Holdings is the largest shareholder of the company, with about 50% ownership.

Business Summary

Sembcorp Industries Ltd. is an investment holding company, which engages in the production and supply of utilities services, terminalling and storage of petroleum products and chemicals. It operates through the following segments: Utilities, Marine, Urban Development, and Others/Corporate. The Utilities segment involves in providing energy, water, on-site logistics, and solid waste management services to industrial and municipal customers. The Marine segment provides integrated solutions for the offshore and marine industry, which include rigs and floaters; repairs and upgrades; offshore platforms; and specialized shipbuilding. The Urban Development segment owns, develops, markets and manages industrial parks as well as business, commercial, and residential space in Asia. The Others/Corporate segment comprises businesses mainly relating to minting, design and construction activities, offshore engineering, and others. The company was founded on May 20, 1998 and is headquartered in Singapore.

Financial Highlights

Dec 2018 SGDUSD
Revenue11,689M8,662.98M
Gross Profit906M671.45M
Operating income553M409.84M
Income before tax246M182.31M
Net income304M225.30M
EBITDA1,148M850.80M
Diluted EPS0.160.12
Dividends Per Share0.040.02
Total Assets23,321M17,110.05M
Total liabilities16,184M11,873.80M
Total equity5,987M4,392.51M
Operating cash flow249M184.53M
Currency in SGDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 10,894.66M 9,544.62M 7,907.04M 8,345.60M 11,689M
Gross Profit 1,411.12M 799.00M 1,088.19M 962.82M 906M
Operating income 1,069.21M 279.90M 739.10M 546.98M 553M
Income before tax 1,088.17M 420.15M 412.31M 148.04M 246M
Net income 791.50M 520.91M 355.87M 187.88M 304M
EBITDA 1,384.04M 684.86M 1,198.67M 1,123.05M 1,148M
Diluted EPS 0.43 0.28 0.19 0.10 0.16
Dividends Per Share 0.16 0.11 0.08 0.05 0.04
Total Assets 17,176.39M 19,915.49M 22,290.23M 23,213.17M 23,321M
Total liabilities 10,142.27M 12,671.88M 14,928.63M 15,997.50M 16,184M
Total equity 5,413.56M 5,630.37M 5,898.32M 5,966.08M 5,987M
Operating cash flow -8.04M -861.16M 549.60M 430.75M 249M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 8,598.85M 6,940.23M 5,727.05M 6,045.44M 8,662.98M
Gross Profit 1,113.76M 580.98M 788.17M 697.45M 671.45M
Operating income 843.90M 203.52M 535.33M 396.22M 409.84M
Income before tax 858.86M 305.50M 298.64M 107.24M 182.31M
Net income 624.70M 378.77M 257.76M 136.10M 225.30M
EBITDA 1,092.39M 497.98M 868.19M 813.52M 850.80M
Diluted EPS 0.34 0.21 0.14 0.07 0.12
Dividends Per Share 0.12 0.07 0.05 0.03 0.02
Total Assets 12,962.33M 14,038.34M 15,428.97M 17,369.93M 17,110.05M
Total liabilities 7,653.96M 8,932.35M 10,333.37M 11,970.59M 11,873.80M
Total equity 4,085.40M 3,968.82M 4,082.73M 4,464.29M 4,392.51M
Operating cash flow -6.34M -626.18M 398.07M 312.03M 184.53M

Valuation Measures

Dec 2018
PER14.92
ROA1.30%
ROE5.08%
Operating margin4.73%
Profit margin2.60%

Key executives

  • Group President, CEO & Director: Neil Garry McGregor
  • Head-Global Operations Group: Meng Poh Ng
  • Group Chief Financial Officer: Graham John Cockroft
  • Chief Technology Officer: Keng Boon Siah
  • EVP, Head-Group Business Development & Commercial: Cheng Guan Tan

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (49.2%)
  • The Vanguard Group, Inc. (1.4%)
  • Norges Bank Investment Management (1.1%)
  • Dimensional Fund Advisors LP (1.1%)
  • BlackRock Fund Advisors (0.9%)
  • T. Rowe Price Associates, Inc. (0.7%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.4%)
  • BlackRock Advisors (UK) Ltd. (0.3%)
  • KBC Fund Management Ltd. (0.2%)
  • TANG KIN FEI (0.2%)

Contact Details

  • Website:http://www.sembcorp.com
  • Address: 30 Hill Street, No. 05-04, Singapore, 179360, Singapore
  • Phone: +65.6723.3113

Related Companies

  • Sembcorp Properties (China) Pte Ltd.
  • Sembcorp Myingyan Power Company (Singapore) Pte Ltd.
  • Singapore Precision Industries Pte Ltd.
  • Nanjing Riverside Quay Co., Ltd.
  • Singapore Technologies Industrial Corp. Ltd.
  • Sembcorp India Pvt Ltd.
  • Singapore Intelligent Eco Island Development Pte Ltd.
  • Sembcorp Green Infra Ltd.
  • Sembcorp Utilities (Netherlands) NV
  • China Water Co. Yancheng Ltd.
  • Sembcorp Holdings Ltd.
  • Sembcorp Investments Ltd.
  • Sembcorp Development Indonesia Pte Ltd.
  • Pulau Holdings Pte Ltd.
  • UK Power Reserve Ltd.
  • Sembcorp Gulf O&M Co. Ltd. FFZ
  • Sembcorp Gayatri Power Ltd.
  • Sembcorp Energy India Limited
  • Sembcorp Design & Construction Pte Ltd.
  • Sembcorp Development Ltd.
  • SembCorp Financial Services Pte Ltd.
  • Sembcorp Construction Pte Ltd.
  • Sembawang Corp. Ltd.
  • Sembawang Nominees Pte Ltd.
  • Sembcorp Parks Holdings Ltd.
  • Singapore-Wuxi Investment Holdings Pte Ltd.
  • SembCorp Waste Management Pte Ltd
  • Sembcorp Environment Pte Ltd.
  • Simon Carves Ltd.
  • Sembcorp Utilities Pte Ltd.

Competitors

  • Veolia Environnement SA
  • Huaneng Power International, Inc. Class H
Last Updated on 25 Mar, 2019

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