Seatrium achieves first full-year profit with S$120.9 million H2 earnings

SEATRIUM swung into the black with a net profit of S$120.9 million for the second half ended Dec 31, from a net loss of S$1.8 billion in the same period a year earlier.

Together with a H1 turnaround, the offshore and marine specialist marked its first full-year profit since its birth in 2023.

The H2 earnings was attributed to higher contributions from revenue recognition, fair value gain on investments, as well as share of profit from associates, the group said on Friday (Feb 21).

Earnings per share (EPS) for the period stood at S$0.0356, compared with a loss per share (LPS) of S$0.5137 in the year-ago period.

With the completion of the share consolidation of every 20 existing shares into one consolidated share on May 9 last year, prior year comparatives for EPS were restated accordingly.