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Utilities

Sembcorp Industries Ltd.

  • 3.14 SGD
  • +0.10
  • +3.29%
  • Singapore
    Apr 26, 2018
  • Ticker
    SES(U96)
  • Prev. close
    3.04
  • Market cap (SGD)
    5,434.14M
  • Market cap (USD)
    4,096.58M
  • 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 & floaters; repairs & upgrades; offshore platforms and specialized shipbuilding. The Urban Development segment owns, develops, markets and manages industrial parks as well as business, commercial, and residential properties. The Others/Corporate segment includes minting, design, construction, offshore engineering and other businesses. The company was founded on May 20, 1998 and is headquartered in Singapore.

Financial Highlights

Dec 2017 SGDUSD
Revenue8,345.60M6,045.44M
Gross Profit962.82M697.45M
Operating income546.98M396.22M
Income before tax148.04M107.24M
Net income187.88M136.10M
EBITDA1,123.05M813.52M
Diluted EPS0.100.07
Dividends Per Share0.050.03
Total Assets23,213.17M17,369.93M
Total liabilities15,997.50M11,970.59M
Total equity5,966.08M4,464.29M
Operating cash flow430.75M312.03M
Currency in SGDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 10,797.62M 10,894.66M 9,544.62M 7,907.04M 8,345.60M
Gross Profit 1,348.01M 1,411.12M 799.00M 1,088.19M 962.82M
Operating income 1,008.97M 1,069.21M 279.90M 739.10M 546.98M
Income before tax 1,059.33M 1,088.17M 420.15M 412.31M 148.04M
Net income 816.22M 791.50M 520.91M 355.87M 187.88M
EBITDA 1,312.26M 1,384.04M 684.86M 1,198.67M 1,123.05M
Diluted EPS 0.45 0.43 0.28 0.19 0.10
Dividends Per Share 0.15 0.16 0.11 0.08 0.05
Total Assets 13,753.88M 17,176.39M 19,915.49M 22,290.23M 23,213.17M
Total liabilities 7,422.11M 10,142.27M 12,671.88M 14,928.63M 15,997.50M
Total equity 5,027.47M 5,413.56M 5,630.37M 5,898.32M 5,966.08M
Operating cash flow 1,458.63M -8.04M -861.16M 549.60M 430.75M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 8,628.95M 8,598.85M 6,940.23M 5,727.05M 6,045.44M
Gross Profit 1,077.26M 1,113.76M 580.98M 788.17M 697.45M
Operating income 806.32M 843.90M 203.52M 535.33M 396.22M
Income before tax 846.57M 858.86M 305.50M 298.64M 107.24M
Net income 652.29M 624.70M 378.77M 257.76M 136.10M
EBITDA 1,048.69M 1,092.39M 497.98M 868.19M 813.52M
Diluted EPS 0.36 0.34 0.21 0.14 0.07
Dividends Per Share 0.11 0.12 0.07 0.05 0.03
Total Assets 10,893.30M 12,962.33M 14,038.34M 15,428.97M 17,369.93M
Total liabilities 5,878.43M 7,653.96M 8,932.35M 10,333.37M 11,970.59M
Total equity 3,981.84M 4,085.40M 3,968.82M 4,082.73M 4,464.29M
Operating cash flow 1,165.67M -6.34M -626.18M 398.07M 312.03M

Valuation Measures

Dec 2017
PER28.82
ROA0.82%
ROE3.16%
Operating margin6.55%
Profit margin2.25%

Key executives

  • Group President & Chief Executive Officer: Neil Garry McGregor
  • Group Chief Financial Officer: Chiap Khiong Koh
  • Chief Technology Officer: Keng Boon Siah
  • Senior Vice President-Group Information Technology: Jasmine Teo
  • EVP & Head-Group Asset Management, Utilities: Meng Poh Ng

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (49.2%)
  • The Vanguard Group, Inc. (1.2%)
  • Norges Bank Investment Management (1.1%)
  • BlackRock Fund Advisors (1.0%)
  • M&G Investment Management Ltd. (0.9%)
  • Dimensional Fund Advisors LP (0.8%)
  • T. Rowe Price Associates, Inc. (0.4%)
  • TANG KIN FEI (0.3%)
  • TD Asset Management, Inc. (0.2%)
  • Manulife Asset Management (US) LLC (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 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 Development Indonesia Pte Ltd.
  • Pulau Holdings Pte Ltd.
  • Sembcorp Gulf O&M Co. Ltd. FFZ
  • Sembcorp Energy India Limited
  • Sembcorp Development Ltd.
  • SembCorp Financial Services Pte Ltd.
  • Sembcorp Construction Pte Ltd.
  • Sembawang Corp. Ltd.
  • Sembawang Nominees Pte Ltd.
  • Sembcorp Energy (Kwinana) 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.
  • SembCorp Ventures Pte Ltd.
  • Sembcorp Marine Ltd.

Competitors

  • Veolia Environnement SA
  • Huaneng Power International, Inc. Class H
Last Updated on 26 Apr, 2018

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