- Seatrium Ltd reported a net loss of S$1.94 billion for the fiscal year, a significant increase from the previous year’s loss of S$261 million.
- The estimated loss for the company was S$208.1 million, suggesting that the actual loss far exceeded expectations.
- The company’s revenue, however, increased to S$7.29 billion from S$1.95 billion year over year.
- Operating loss also increased to S$1.57 billion from last year’s S$206.4 million.
- In the second half of the fiscal year, Seatrium Ltd reported a net loss of S$1.68 billion and an operating loss of S$1.40 billion, with revenue at S$4.41 billion.
- The company has entered into in-principle pacts with Brazilian authorities and has agreed to a settlement of approximately S$182.4 million.
- Seatrium Ltd has proposed a share consolidation of every 20 shares.
- The company is committed to improving its financial performance in FY2024 and has written down surplus and non-core assets in the FY2023 results to enhance productivity and reduce operational costs.
- The fiscal year 2023 performance was affected by exceptional items such as non-cash write-downs, provisions for onerous contracts, and legal and corporate claims.
- Seatrium Ltd has reached in-principle settlement agreements related to the historical event Operation Car Wash with the Brazilian authorities for around S$182.4 million.
- Currently, the company has 8 buys, 0 holds, and 1 sell.
- All comparisons to past results are based on values reported by the company in its original disclosures.
A look at Seatrium Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Seatrium Ltd, a company that offers engineering solutions for the offshore, marine, and energy industries, has received an overall Smart Score of 2 out of 5. This indicates that the company’s long-term outlook is mixed. While Seatrium scores well in terms of growth potential with a score of 5, it falls short in the areas of dividend and momentum with scores of 1 and 2 respectively. This means that investors may not see a high return on their investment in the form of dividends and the company’s stock may not be showing strong upward momentum.
Despite its lower scores in some areas, Seatrium does have a solid value score of 3 and a resilience score of 3 as well. This suggests that the company may be undervalued and has the ability to weather potential challenges in the industry. With a strong focus on providing rigs and floaters, repairs and upgrades, offshore platforms, and specialized shipbuilding, Seatrium serves a global customer base. As the company continues to grow, it will be important to monitor its progress and see if it can improve its scores in areas such as dividends and momentum.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
