Singapore Technologies Engineering (S63) Q1 2025 earnings summary

Executive summary

• Achieved 8% year-over-year revenue growth in 1Q2025, reaching $2.9b from $2.7b in 1Q2024.

• Continued strong contract win momentum with ~$4.4b in new contracts and a robust order book of $29.8b as of March 31, 2025.

• Interim dividend of 4.0 cents per share declared for 1Q2025.

Financial highlights

• Group revenue rose 8% year-over-year to $2.9b in 1Q2025.

• Defence & Public Security segment revenue up 18% to $1.32b; Commercial Aerospace flat at $1.15b; Urban Solutions & Satcom up 4% to $446m.

• Contract wins totaled ~$4.4b in 1Q2025, with Defence & Public Security contributing $2.7b, Commercial Aerospace $1.3b, and Urban Solutions & Satcom $0.5b.

• Order book stands at $29.8b, with $7.3b expected to be delivered in the rest of 2025.

Outlook and guidance

• Revenue from major Urban Solutions projects (~$200m in FY2024) expected to more than double by 2028.

• US$1.73b New Jersey E-ZPass Services contract may be added pending court decision.

• Management continues to monitor tariff impacts, currently assessed as immaterial.