However, the group achieved a positive ebitda of $27 million for the 1HFY2023, higher than the ebitda loss of $19 million in the same period the year before. Ebitda before provision for contracts and merger expenses amounted to $258 million for the six-month period.
Seatrium (SGX:S51
) has reported a loss of $264.4 million for the 1HFY2023 ended June 30, 85.1% deeper than the loss of $142.9 million. This is also the group’s first-ever results for the six-month period since the completion of the combination with Keppel Offshore & Marine (Keppel O&M) – now Seatrium O&M – on Feb 28.
The higher net loss for the 1HFY2023 was mainly due to higher costs for certain projects, higher professional fees, higher net finance costs and tax expenses and mitigated by higher contribution from repairs & upgrades businesses.
