Sembcorp Industries (Sembcorp) posted a Group net profit of S$301 million for full year 2020 (FY2020) excluding exceptional items and the discontinued Marine business, compared to S$456 million in FY2019.

Sembcorp Industries (Sembcorp) is pleased to announce the appointment of Lim Ming Yan as a non-executive and independent director with effect from today.

Sembcorp Industries (the Group) wishes to provide the following updates and profit guidance for the unaudited consolidated financial statements for the second half ending December 31, 2020 (2H2020) and the full year ending December 31, 2020 (FY2020).

Sembcorp Industries (Sembcorp) launched the Sembcorp Energy for Good Fund today. The initiative aims to support community development with an initial injection of S$1.5 million by the Group. This year, over S$1 million will be used to provide relief to the social sector and migrant workers – to ensure these support pillars of the community can continue to deliver essential services amid the COVID-19 pandemic. In addition, the Fund will also show appreciation to essential workers in the energy, water, waste and environmental services.

Sembcorp Industries and Sembcorp Marine are today proposing the recapitalisation of Sembcorp Marine through a S$2.1 billion renounceable rights issue (the “Rights Issue”), followed by a proposed demerger of the two companies via a distribution in specie (the “Proposed Distribution”) of Sembcorp Industries’ stake in the recapitalised Sembcorp Marine to Sembcorp Industries shareholders.

This announcement sets out Sembcorp Industries (Sembcorp) update on the impact of the COVID-19 pandemic on Sembcorp’s businesses and its FY2020 outlook.

Sembcorp Industries (Sembcorp) posted a net profit of S$247 million and turnover of S$9.6 billion for full year 2019 (FY2019), compared to S$347 million and S$11.7 billion respectively in FY2018. Excluding exceptional items, underlying Group net profit grew 17% to S$395 million.

Sembcorp Industries (Sembcorp) posted a net profit of S$262 million for the first nine months of 2019 (9M2019), up 9% from S$241 million in 9M2018. Turnover was S$7.3 billion compared to S$9.1 billion in 9M2018, mainly due to lower revenue recognition from rigs and floaters and offshore platform projects for the Marine business.

Sembcorp Industries (Sembcorp) posted a net profit of S$191 million for the first half of 2019 (1H2019), up from S$159 million in 1H2018, on improved performance from the Energy business. Turnover was S$4.9 billion compared to S$6.1 billion in 1H2018.

Sembcorp Industries (Sembcorp) posted a net profit of S$93 million for the first quarter of 2019 (1Q2019), up from S$77 million in 1Q2018, on improved performance from the Energy business. Turnover was S$2.5 billion compared to S$2.8 billion in 1Q2018.

Sembcorp Industries (Sembcorp) delivered a creditable set of results for full year 2018 (FY2018) with good performance from its Utilities and Urban Development businesses mitigating a weak performance from the Marine business. The Group posted turnover of S$11.7 billion and net profit of S$347 million in FY2018, compared to S$9.0 billion and S$383 million respectively in FY2017.

Sembcorp Industries (Sembcorp) posted a turnover of S$9.1 billion and a corresponding net profit of S$240.9 million in 9M2018, compared to S$6.6 billion and S$265.3 million in 9M2017 . Excluding the Marine business, the Group delivered a profit growth of 62%, with net profit at S$290.8 million compared to S$179.3 million in 9M2017. In the period, a 96% net profit growth in the Utilities business and stable Urban Development earnings mitigated Marine’s weak performance.