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 were 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.