Seatrium Limited has announced a significant increase in net profit for the first half of 2026, reaching S$373m, a 158% rise compared to the same period last year. This growth, reported for the period ending 30 June 2026, is attributed to improved margins and disciplined execution, with net profit excluding divestment gains rising by 54%.
The company, led by CEO Chris Ong, has focused on structural cost optimisation and strategic project execution to enhance profitability amidst a volatile macroeconomic environment. Ong stated, “Our solid 1H2026 results reinforce the consistent progress we are making towards building a resilient and more profitable Seatrium.”
Seatrium’s net order book stands at S$13.3b, with over 95% comprising Series Build projects, ensuring greater execution certainty and supporting long-term margin expansion. The company is poised to capture more than S$32b in global opportunities over the next 24 months, spanning oil and gas, offshore wind, and conversions.
The Group’s revenue for 1H2026 increased by 4.7% to S$5.6b, supported by steady execution of its order book. Gross margin improved to 8.6%, driven by a higher mix of profitable projects and reduced overheads. Seatrium’s EBITDA, excluding divestment gains, rose 20% to S$479m.
Looking ahead, Seatrium aims to convert pipeline opportunities to grow its order book further, focusing on higher-quality projects and optimising its cost structure. The company expects its FY2026 net profit to be materially higher than FY2025, supported by ongoing margin improvements and strategic divestments.
