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Electronic Technology

Singapore Technologies Engineering Ltd.

  • 3.50 SGD
  • 0.00
  • 0.00%
  • Singapore
    Sep 19, 2018
  • Ticker
    SES(S63)
  • Prev. close
    3.50
  • Market cap (SGD)
    10,928.73M
  • Market cap (USD)
    7,979.43M
  • Shares
    3,122.49M

Company Background

Singapore Technologies Engineering (ST Engineering) is one of Asia's largest defense and engineering groups. It has over 100 subsidiaries and associate companies spanning in 24 countries, which cover its four core businesses -- aerospace, land systems, electronics and marine. Singapore's sovereign wealth fund, Temasek Holdings, holds a more than 50% stake. In 2013, it acquired 90% of an automotive maintenance company in Brazil. Tan Pheng Hock, a veteran who joined ST Marine in 1981, has led the company as president and CEO since 2002.

ST Engineering was born in 1997 through a merger of four publicly-listed companies. Its origins trace back to 1967, when one of the precursors, Chartered Industries of Singapore, was set up by the newly-independent Singaporean government. Its original role was to make ordnance for the Singapore Armed Forces, and the SAF remains ST Engineering's top client today. The company is now the world's largest producer of 40mm munitions. The company has also diversified over the years, and now supplies both military customers and commercial ones in over 100 countries. Non-defense business makes up more than 60% of total revenue. In aviation services, it is the world's top airframe MRO (maintenance, repair and overhaul) provider, with a large presence in China.

Business Summary

Singapore Technologies Engineering Ltd. is an investment holding company, which engages in the provision of engineering and related services. It operates in the following segments: Aerospace, Electronics, Land Systems, Marine, and Others. The Aerospace segment provides a spectrum maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul, engineering design and development, technical services, material support, asset management services, and pilot training. The Electronics segment delivers system solutions to government, commercial, defense, and industrial customers. The Land Systems segment handles design and engineering services, manufacture, sales and knowhow transfer of military and commercial vehicles, automotive subsystems, armament, weapons, weapon systems, ammunition, and explosives. The Marine segment produces turnkey building, repair, and conversion services for a wide spectrum of naval and commercial vessels. The Others segment is the research and development, treasury, investment holding, and provision of management, consultancy, integrated logistics management, integrated facilities management, warehousing, and other support services. The company was founded on September 8, 1997 and is headquartered in Singapore.

Financial Highlights

Dec 2017 SGDUSD
Revenue6,619.49M4,795.07M
Gross Profit1,313.92M951.78M
Operating income672.26M486.97M
Income before tax573.96M415.77M
Net income511.88M370.80M
EBITDA889.22M644.13M
Diluted EPS0.160.11
Dividends Per Share0.150.10
Total Assets8,584.86M6,423.87M
Total liabilities6,063.47M4,537.16M
Total equity2,239.98M1,676.12M
Operating cash flow802.87M581.59M
Currency in SGDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 6,633.15M 6,539.43M 6,335.02M 6,683.73M 6,619.49M
Gross Profit 1,423.39M 1,313.52M 1,277.55M 1,284.75M 1,313.92M
Operating income 680.37M 662.63M 628.76M 626.50M 672.26M
Income before tax 698.61M 593.50M 571.96M 526.86M 573.96M
Net income 580.83M 531.95M 529.03M 484.51M 511.88M
EBITDA 822.42M 833.14M 816.06M 873.83M 889.22M
Diluted EPS 0.18 0.17 0.17 0.15 0.16
Dividends Per Share 0.15 0.15 0.15 0.15 0.15
Total Assets 8,706.64M 8,406.17M 8,263.63M 8,489.95M 8,584.86M
Total liabilities 6,366.08M 6,052.17M 5,918.56M 6,045.75M 6,063.47M
Total equity 2,116.24M 2,132.20M 2,132.05M 2,182.26M 2,239.98M
Operating cash flow 929.04M 628.66M 479.52M 762.66M 802.87M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 5,300.90M 5,161.39M 4,606.42M 4,841.01M 4,795.07M
Gross Profit 1,137.51M 1,036.73M 928.95M 930.54M 951.78M
Operating income 543.72M 523.00M 457.19M 453.77M 486.97M
Income before tax 558.29M 468.43M 415.89M 381.60M 415.77M
Net income 464.17M 419.85M 384.68M 350.93M 370.80M
EBITDA 657.24M 657.57M 593.38M 632.91M 644.13M
Diluted EPS 0.14 0.13 0.12 0.11 0.11
Dividends Per Share 0.11 0.11 0.10 0.10 0.10
Total Assets 6,895.80M 6,343.80M 5,825.00M 5,876.62M 6,423.87M
Total liabilities 5,042.04M 4,567.33M 4,171.97M 4,184.78M 4,537.16M
Total equity 1,676.09M 1,609.08M 1,502.87M 1,510.52M 1,676.12M
Operating cash flow 742.44M 496.18M 348.67M 552.39M 581.59M

Valuation Measures

Dec 2017
PER19.84
ROA5.99%
ROE23.15%
Operating margin10.15%
Profit margin7.73%

Key executives

  • President, Chief Executive Officer & Director: Sy Feng Chong
  • Chief Financial Officer: Chee Keng Foo
  • Chief Technology Officer: Saik Hay Fong
  • Chief Corporate Officer: Ai Ching Tan
  • President-Aerospace: Serh Ghee Lim

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (49.7%)
  • Capital Research & Management Co. (Global Investors) (2.3%)
  • The Vanguard Group, Inc. (1.3%)
  • Eastspring Investments (Singapore) Ltd. (0.9%)
  • Temasek Capital Pte Ltd. (0.9%)
  • BlackRock Fund Advisors (0.8%)
  • Aberdeen Asset Management (Asia) Ltd. (0.8%)
  • Norges Bank Investment Management (0.8%)
  • Matthews International Capital Management LLC (0.7%)
  • Allianz Global Investors Asia Pacific Ltd. (0.4%)

Contact Details

  • Website:http://www.stengg.com
  • Address: ST Engineering Hub, 1 Ang Mo Kio Electronics Park Road, Singapore, 567710, Singapore
  • Phone: +65.6722.1818

Related Companies

  • Pacific Flight Services Pte Ltd.
  • ST Synthesis Pte Ltd.
  • ST Engineering Financial II Pte Ltd.
  • Pacific Flight Service Pte Ltd.
  • ST Engineering Ventures Pte Ltd.
  • Moser Marino & Figli SRL
  • Total Engine Asset Management Pte Ltd.
  • Composite Technology International Pte Ltd.
  • ST Electronics (Satellite Systems) Pte Ltd.
  • Singapore Technologies Dynamics Pte Ltd.
  • ST Engineering Co., Ltd.
  • ST Aerospace Systems Pte Ltd.
  • ST Trustees Ltd.
  • Double Helix Pte Ltd.
  • ST Electronics (Shanghai) Co., Ltd.
  • ST Education & Training Pte Ltd.
  • Singapore Technologies Shipbuilding & Engineering Ltd.
  • ST Aerospace Engines Pte Ltd.
  • ST Engineering Financial I Ltd.
  • FusionTech Pte Ltd.
  • ST Aerospace Engineering Pte Ltd.
  • Chartered Industries of Singapore Pte Ltd.
  • SAS Component AB
  • Visiontech Investment Pte Ltd.
  • Vision Technologies Electronics, Inc.
  • Vision Technologies Systems, Inc.
  • Singapore Technologies Aerospace Ltd.
  • ST Electronics (Info-Comm Systems) Pte Ltd.
  • ST Electronics (Info-Software Systems) Pte Ltd.
  • Cradance Services Pte Ltd

Competitors

  • AAR CORP.
  • ViaSat, Inc.
  • SOGECLAIR SA
  • Chorus Aviation Inc.
  • Astec Industries, Inc.
  • Gilat Satellite Networks Ltd.
  • Comtech Telecommunications Corp.
  • EchoStar Corporation Class A
  • NetLink NBN Trust
Last Updated on 19 Sep, 2018

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