Microsoft word - sci_9m07_pressrelease.doc
SEMBCORP POSTS 54% GROWTH IN 9M2007 PROFIT FROM CONTINUING
Group PATMI before EI increases 49% to $374.4 million
Singapore, November 6, 2007
- Sembcorp Industries (Sembcorp) continued to post strong
earnings growth for the first nine months of 2007 (9M2007). The Group’s Profit After Tax and
Minority Interest (PATMI) before Exceptional Items (EI) from its continuing operations
showed an increase of 54% from the previous year, to $374.4 million. Turnover from its
continuing operations was up 17% to $6.1 billion.
Strong business fundamentals continue to drive Sembcorp’s growth, backed by positive
operating performance from its Utilities and Marine & Offshore Engineering businesses.
Utilities’ PATMI climbed 24% to $198.0 million, contributed mainly by its Singapore and UK
operations. Meanwhile, Marine’s contribution to Group PATMI increased 81% to $149.5
million, due to robust growth from rig building, offshore & conversion and repair businesses.
Net order book continues to stand at a strong $7.9 billion, with completion and deliveries till
2010. Contracts worth $5.1 billion have been secured to-date this year.
“Sembcorp’s business operations remain strong. Beyond this, we continue to strengthen our
overseas beachheads through our UK biomass plant as well as through new projects in
China. We also see new opportunities for growth in Singapore, with positive developments in
the petrochemical sector bringing a wave of potential new downstream players onto Jurong
Island,” commented Mr Tang Kin Fei, Group President & CEO.
Sembcorp’s FY2007 Outlook
The Group’s businesses remain sound and have continued to perform well. We expect 2007
PATMI contribution from Utilities, Enviro and Industrial Parks to be better than that of 2006
on a comparable basis, excluding net profits arising from exceptional items.
Marine’s contribution to the Group’s PATMI will depend on the outcome of the investigation
and resolution with the banks on the foreign exchange exposure relating to the unauthorised
Highlights from Sembcorp’s 9M2007 Financial Results
Strong earnings growth from continuing operations
Group PATMI before EI at $374.4m, up 49%
Healthy balance sheet
Return on Equity (annualised) at 17%
Positive Economic Value Added at $294.9m
Issued by: Sembcorp Industries Ltd (Company Registration No. 199802418D)
For analysts’ and press queries, please contact:
Aleve Co (Ms)
Assistant Manager, Group Corporate Relations PR Counsel, Group Corporate Relations DID: +65 6723 3011
About Sembcorp Industries
Sembcorp Industries Ltd is a leading utilities and marine group. The Group provides
centralised utilities and energy to industrial customers in Singapore, the United Kingdom,
Asia and the Middle East. It is a global leader in marine and offshore engineering and also a
provider of industrial park and environmental management services in the region.
Sembcorp Industries has total assets of over $8.5 billion and employs more than 7,500
Listed on the main board of the Singapore Exchange, Sembcorp Industries is a component
stock of the Straits Times Index and several MSCI indices.
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