Singapore Technologies Engineering Ltd

S63: XSES (SGP)

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ST Engineering Earnings: Positive on Margin Outlook and Defense Contracts; Raising Valuation by 26%

Lorraine Tan

Mar 2, 2026

STE's 2025 core net profit grew 21% year on year to SGD 851 million, driven by 9.5% growth in revenue and expansion in core operating margin to 8.9% from 8.3%. The company's reported net profit fell to SGD 463 million from SGD 702 million in 2024, due to one-off net write-offs of SGD 388 million.

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Singapore Technologies Engineering Ltd

ST Engineering Earnings: Positive on Margin Outlook and Defense Contracts; Raising Valuation by 26%

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