Order intake for the communications business segment also remained strong, bringing in $54.3 million of new orders in 4QFY2023. This 43.5% increase y-o-y is mainly attributable to new orders from recent acquisitions in the communications business to expand its geographic footprint and market coverage.
CSE Global 544 has secured $300.3 million of new orders in 4QFY2023 ended Dec 31, 2023, up 23.7% from the new orders it clinched in 3QFY2022 and mainly driven by stronger demand for electrification and communications solutions in the infrastructure industry.
During the quarter, the electrification business segment continued to lead the growth in order intake, increasing 58.5% y-o-y to $203.1 million. Notable contracts secured in 4QFY2023 include two contracts in the US worth $150.6 million for the design and manufacturing of power distribution centres, as well as the integration of complex electrical and control systems and equipment in the US, which are slated for execution between 2024 and 2025.
