Utilities
Sembcorp Industries Ltd.
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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 | SGD | USD |
| Revenue | 9,618M | 7,050.29M |
| Gross Profit | 1,018M | 746.22M |
| Operating income | 596M | 436.88M |
| Income before tax | 111M | 81.36M |
| Net income | 238M | 174.46M |
| EBITDA | 1,285M | 941.94M |
| Diluted EPS | 0.13 | 0.09 |
| Dividends Per Share | 0.05 | 0.03 |
| Total Assets | 23,252M | 17,292.23M |
| Total liabilities | 16,174M | 12,028.40M |
| Total equity | 6,070M | 4,514.18M |
| Operating cash flow | 730M | 535.11M |
| Currency in SGD | Currency in USD |
Historical Data
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 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 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 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 | |
| PER | 17.19 |
| ROA | 1.02% |
| ROE | 3.94% |
| Operating margin | 6.19% |
| Profit margin | 2.47% |
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
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Last Updated on 27 Mar, 2020