ST Engineering reported revenue of SG$6.57bn for the first half (H1) of 2026, up 11% year-on-year from SG$5.92bn, driven by growth across all three of its business segments.
Earnings growth outpaced revenue growth across the group. EBIT increased 23% to SG$738m from SG$602m, while profit before tax rose 30% to SG$651m from SG$500m. Net profit climbed 27% to SG$512m from SG$403m.
On a rebased basis, group revenue and EBIT increased 14% and 27%, respectively in H1. ST Engineering attributed the performance to a more favourable business mix and disciplined execution.
Stronger earnings and favourable working capital movements also boosted cash generation, with operating cash flow rising 26% to SG$960m from SG$761m.
Commercial Aerospace revenue increased 15% to SG$2.69bn in H1 from SG$2.35bn, driven by higher revenue from engine MRO, nacelles and spares sales. EBIT rose 29% to SG$288m from SG$223m, supported by higher revenue, a more favourable product mix and productivity savings.
Defence & Public Security revenue grew 7% to SG$2.82bn from SG$2.65bn, with contributions from all sub-segments. EBIT increased 10% to SG$404m from SG$367m. On a rebased basis, revenue and EBIT grew 14% and 16%, respectively.
Urban Solutions & Satcom revenue climbed 15% to SG$1.06bn from SG$921m, with Urban Solutions up 14% and Satcom up 18%. Segment EBIT rose to SG$46m from SG$12m a year earlier, reflecting higher revenue and an improved margin mix.
ST Engineering said Satcom delivered stronger first-half revenue in line with guidance issued in February, while its cost initiatives remained on track.
