CSE Global Limited, a global systems integrator based in Singapore, announced a robust financial performance for the fiscal year ending 31 December 2024. The company reported an 18.8% increase in revenue, reaching $861.2m, primarily driven by its Electrification and Automation business segments. The group’s EBITDA rose by 29.1% to $82.2m, whilst net profit before exceptional items surged 63.2% to $36.8m.
The company’s strong performance is attributed to its strategic focus on urbanisation, electrification, and decarbonisation trends, according to Group Managing Director and CEO Lim Boon Kheng. “Despite market uncertainty, CSE demonstrated resilience through strong revenue and net profit growth,” he stated. The acquisition of RFC Wireless, Inc. has also allowed CSE to penetrate the US data centre communications market, further expanding its capacity in the Electrification business.
Key highlights from the financial results include a stable order book of $672.6m as of 31 December 2024 and a recommended final dividend of 1.15 Singapore cents per ordinary share. The company also reported improved working capital efficiencies, with a reduction in cash conversion days from 52 to 50 days.
Looking ahead, CSE Global plans to capitalise on the growing demand for data centres and continue expanding its engineering capabilities to meet evolving market demands. The company aims to strengthen its position in the Electrification and Communications sectors, particularly in the Americas and Asia Pacific regions.
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