CSE Global said its outstanding order book as at end-3Q20 stood at S$267.0 million, a 14.8% growth over 3Q2019 of S$232.6 million.

In 3Q, it secured about S$91.0 million of new orders (3Q19: S$156.1 million) on a continuing operations basis.

The lower new orders was mainly driven by Oil & Gas and Mining & Minerals segments, partially offset by the growth in new orders for the Infrastructure segment.

(S$’000)

Order Book at
 end-3Q

 

Industry Segments

3Q2020

3Q2019

Change

Oil & Gas

118,524

95,366

+24%

Infrastructure

127,748

126,583

+1%

Mining

20,699

10,689

+94%

Total

266,971

232,638

+15%

S$'m 

1Q20

2Q20

3Q20F*

Revenue

131.9

123.7

$118 m

Net Profit

7.1

8.0

?

Net Profit change (y-o-y)

+23%

+78%

* CSE is expected to unveil its 3Q20 financial performance in Nov.

The earlier reported figure for end-2Q20 orderbook was S$293.8 million.

With the above figures, investors can deduce CSE's 3Q20 revenue (and likely profits).

The 3Q20 revenue can be estimated as follows: S$293.8 million + S$91.0 million - S$267.0 million = $117.8 million. 

Compared with S$111.5 million in 3Q2019, the revenue growth was 5.7% y-o-y.


(S$’000)

Order intake 

 

Industry Segments

3Q2020

3Q2019

Change

Oil & Gas

48,434

116,958

- 59%

Infrastructure

30,289

25,123

+21%

Mining

12,305

14,058

-13%

Total

91,028

156,139

- 42%


Regarding its 3Q order intake, CSE said lower orders in the Oil & Gas segment was due to the impact of the current oil and gas market environment as well as from a one-time adjustment of order intake in 3Q2019 due to the consolidation of the order book of Volta, which was acquired at end of August 2019.

LimBoonKheng1119Mr Lim Boon Kheng, Group MD of CSE, said, “Amid the pandemic and low oil and gas environment, the 3Q2020 order intake was respectable and in line with our expectations. As we have highlighted earlier, the current market environment still presents numerous uncertainties and challenges going forward: COVID-19 pandemic, low oil & gas prices and weak global economic outlook.”

 


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