In a results briefing on Nov 13, Seatrium’s CEO Chris Ong said the group is making “steady progress” towards the targets it set for FY2028. In addition to revenue, Seatrium aims to report an ebitda of over $1 billion, a return on equity (ROE) of over 8% and a net debt to ebitda of 2.0 to 3.0 times then.
Analysts from CGS International (CGSI) and OCBC Investment Research (OIR) are maintaining their “add” and “buy” calls on Seatrium even though the offshore and marine (O&M) group reported a slower order book of $16.6 billion for the period.
Morningstar analyst Lee Chokwai also kept his “four star” rating even though order wins were “underwhelming”. Seatrium’s current order book also appears to be insufficient to support the group’s FY2028 revenue target of $10 billion to $12 billion.
