In a sign of how orders momentum has not only continued but has risen strongly, Dyna-Mac, on April 3, announced additional new contracts that have brought its current order book to a record $896 million. Maybank Securities analyst Jarick Seet estimates that the value of the new contracts stood at some $456.8 million. OCBC Investment Securities analyst Ada Lim puts that number at around $458 million.
Things seem to be on the up and up for Dyna-Mac Holdings (SGX:NO4
) , with the builder of topside modules for oil rigs seen to benefit from the current multi-year industry upcycle.
On Feb 20, the company announced that revenue for FY2023 ended Dec 31, 2023, was up 32.1% y-o-y to $385.2 million, as it recognised more progressive payments from ongoing projects. Thanks to better margins, earnings surged 114% y-o-y $28.7 million. Its order book as at the end of last year was $438.2 million.
