Seatrium Reports 106% Increase in Full-Year Profit to S$324M Driven by Oil and Gas, Offshore Wind Growth
Seatrium's net profit for FY2025 reached S$324 million, a 106% increase from S$157 million in FY2024. The rise was attributed to stronger margins, revenue growth in oil and gas and offshore wind segments, and lower finance costs. The company plans a final cash dividend of S$0.03 per share. Seatrium's total revenue grew by 24% to S$11.5 billion, driven primarily by oil and gas projects, especially for Petrobras, and offshore wind initiatives for TenneT. The company is pursuing S$32 billion in pipeline deals over the next two years.
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Seatrium reported a net profit of S$324 million for FY2025, a 106% increase from S$157 million in FY2024. This growth was driven by improved margins and increased revenues in the oil and gas and offshore wind sectors, with total revenue rising 24% to S$11.5 billion.
The oil and gas segment revenue grew 24% to S$8.1 billion, supported by projects for Petrobras, while offshore wind revenue increased by about 60% to S$2.1 billion, bolstered by TenneT projects. Seatrium is also pursuing S$32 billion in deals and has a net order book of S$17.8 billion, with 40% in renewables. The firm aims for sustained growth while optimizing its cost structure.
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