| 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$156.1 million) on a continuing operations basis. The lower new orders was mainly driven by Oil & Gas and Mining & Minerals segments, partially offset by the growth in new orders for the Infrastructure segment.
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|
S$'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. |
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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.
 Mr 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.” |