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Utilities

Sembcorp Industries Ltd.

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 four segments: Utilities, Marine, Urban Development, and Others/Corporate. The Utilities segment involves in providing energy 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 2019 SGDUSD
Revenue9,618M7,050.29M
Gross Profit1,018M746.22M
Operating income596M436.88M
Income before tax111M81.36M
Net income238M174.46M
EBITDA1,285M941.94M
Diluted EPS0.130.09
Dividends Per Share0.050.03
Total Assets23,252M17,292.23M
Total liabilities16,174M12,028.40M
Total equity6,070M4,514.18M
Operating cash flow730M535.11M
Currency in SGDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 9,544.62M 7,907.04M 9,026M 11,689M 9,618M
Gross Profit 799.00M 1,088.19M 1,230M 911M 1,018M
Operating income 279.90M 739.10M 864M 550M 596M
Income before tax 420.15M 412.31M 447M 246M 111M
Net income 520.91M 355.87M 340M 304M 238M
EBITDA 684.86M 1,198.67M 1,440M 1,148M 1,285M
Diluted EPS 0.28 0.19 0.18 0.16 0.13
Dividends Per Share 0.11 0.08 0.05 0.04 0.05
Total Assets 19,915.49M 22,290.23M 23,745M 23,321M 23,252M
Total liabilities 12,671.88M 14,928.63M 16,571M 16,180M 16,174M
Total equity 5,630.37M 5,898.32M 5,941M 5,987M 6,070M
Operating cash flow -861.16M 549.60M 432M 249M 730M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 6,940.23M 5,727.05M 6,538.31M 8,662.98M 7,050.29M
Gross Profit 580.98M 788.17M 890.99M 675.16M 746.22M
Operating income 203.52M 535.33M 625.87M 407.61M 436.88M
Income before tax 305.50M 298.64M 323.80M 182.31M 81.36M
Net income 378.77M 257.76M 246.29M 225.30M 174.46M
EBITDA 497.98M 868.19M 1,043.11M 850.80M 941.94M
Diluted EPS 0.21 0.14 0.13 0.12 0.09
Dividends Per Share 0.07 0.05 0.03 0.02 0.03
Total Assets 14,038.34M 15,428.97M 17,767.88M 17,110.05M 17,292.23M
Total liabilities 8,932.35M 10,333.37M 12,399.72M 11,870.87M 12,028.40M
Total equity 3,968.82M 4,082.73M 4,445.52M 4,392.51M 4,514.18M
Operating cash flow -626.18M 398.07M 312.93M 184.53M 535.11M

Valuation Measures

Dec 2019
PER17.19
ROA1.02%
ROE3.94%
Operating margin6.19%
Profit margin2.47%

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: Eric Mun
  • Senior Vice President & Head-Group Legal: Aeron Hong

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (49.2%)
  • The Vanguard Group, Inc. (1.5%)
  • Dimensional Fund Advisors LP (1.1%)
  • BlackRock Fund Advisors (1.0%)
  • Norges Bank Investment Management (0.6%)
  • BlackRock Advisors (UK) Ltd. (0.4%)
  • Sembcorp Industries Ltd. (0.2%)
  • TANG KIN FEI (0.2%)
  • KBC Fund Management Ltd. (0.2%)
  • Geode Capital Management 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 Industries Ltd. /Water Business/
  • Repono Interco Ltd.
  • Sembcorp Xinmin Water Co. Ltd.
  • 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 Utilities (Netherlands) NV
  • China Water Co. Yancheng Ltd.
  • Sembcorp Holdings Ltd.
  • Sembcorp Investments Ltd.
  • Sembcorp Utilities (Chile) SA
  • Sembcorp (China) Holding Co. 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 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 Environment Pte Ltd.
  • Simon Carves Ltd.

Competitors

  • Veolia Environnement SA
  • Huaneng Power International, Inc. Class H
Last Updated on 27 Mar, 2020

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