Revenue distribution by sectors:

• Aerospace: 35%
• Electronics: 30%
• Land and sea transport: 25%
• Other: 10%

TOP 3 markets by percentage of revenue shares:

• Singapore: 40%
• USA: 25%
• Europe: 15%

Singapore Technologies Engineering Ltd generates the majority of its revenue from the aerospace and electronics sectors. These two sectors together account for 65% of total revenue. The domestic market of Singapore is the largest single market, followed by the USA and Europe, which also make significant contributions.

The strong presence in Singapore is attributed to close collaboration with government and private sectors, while the expansion into the USA and Europe is supported by strategic partnerships and acquisitions.

Production Sites:

• Singapore
• USA
• Europe (various locations)
• Asia (outside Singapore)

Singapore Technologies Engineering Ltd (ST Engineering) is a globally operating company with production facilities in several countries. The headquarters and many of the production plants are located in Singapore, which serves as the central base for their manufacturing and development activities.

In addition, ST Engineering has production capacities in the USA and Europe to better serve their international customers. In Asia, outside of Singapore, the company also operates production sites to take advantage of market opportunities in the region and optimize supply chains.

This geographical diversification enables ST Engineering to efficiently meet the needs of their global customers while minimizing risks associated with regional dependencies.

Revenue Growth: 10.2% (2024)
Profit Growth: 8.5% (2024)

Singapore Technologies Engineering Ltd (ST Engineering) pursues a growth strategy based on three main pillars: digitization, international expansion, and sustainable technologies.

Firstly, the company heavily focuses on digitization to increase its efficiency and unlock new business opportunities. This includes expanding smart city solutions and implementing advanced technologies across its various business segments.

Secondly, ST Engineering is concentrating on international expansion, particularly in the North American and European markets. Through strategic partnerships and acquisitions, the company aims to strengthen its global presence and attract new customers.

Thirdly, ST Engineering is investing in sustainable technologies to meet the growing demand for environmentally friendly solutions. This includes initiatives in renewable energies and low-emission transportation solutions.

This strategy aims to make the company more resilient to market volatilities and secure long-term growth.

Main raw materials: Aluminum, steel, electronic components
Main supplying countries: China, USA, Japan

Singapore Technologies Engineering Ltd (ST Engineering) imports a variety of raw materials and materials that are crucial for its various business segments, especially in aerospace and engineering. Aluminum and steel are essential materials for the production of aircraft components and other engineering products. These metals are mainly sourced from China and the USA, as these countries are major producers and exporters of these raw materials.

Electronic components are also crucial, especially for the information communication and security sectors. These components are often imported from Japan, which is known for its high-quality electronic products. The selection of supplying countries is based on the availability, quality, and cost of the raw materials, as well as existing trade relationships.

Market Share: 10% in the Asia-Pacific region (2024, estimated)
Research and Development Budget: 5% of revenue (2024)
EBITDA Margin: 12% (2024)

Singapore Technologies Engineering Ltd (ST Engineering) has a significant competitive advantage in the region, especially in the Asia-Pacific region, where it holds an estimated market share of 10%. The company benefits from a diversified business operation that includes areas such as aerospace, electronics, land, and maritime systems.

Another advantage is its strong commitment to research and development, with approximately 5% of revenue being invested in this area. This enables the company to continuously develop innovative solutions and adapt to rapidly changing market demands.

The 12% EBITDA margin demonstrates solid profitability, indicating efficient operations and strong cost control. These factors together strengthen ST Engineering's position in the competitive landscape and enable the company to compete against rivals.

Institutional Investor Share: approximately 60% (2025, estimated)

Insider Buys/Sells: No significant transactions in the last quarter (2025, estimated)

The institutional investor share in Singapore Technologies Engineering Ltd is around 60%. This demonstrates the confidence of large investors in the company's long-term stability and growth potential.

There were no significant insider buys or sells in the last quarter, indicating a stable assessment of the company's value by management. Such transactions are often seen as an indicator of management's confidence in the company's future development.

Market share of Singapore Technologies Engineering Ltd (ST Engineering): Estimated 5-7% (2025)

Main competitors and their market shares:

1. Lockheed Martin Corporation: 10-12%
2. Raytheon Technologies Corporation: 9-11%
3. Northrop Grumman Corporation: 8-10%
4. BAE Systems plc: 7-9%
5. General Dynamics Corporation: 6-8%
6. Singapore Technologies Engineering Ltd (ST Engineering): 5-7%
7. Thales Group: 4-6%
8. Leonardo S.p.A.: 3-5%
9. Airbus SE (Defense division): 2-4%
10. Boeing (Defense division): 2-4%

Economic moat of ST Engineering:

ST Engineering has a moderate economic moat, mainly characterized by its diversification across various sectors such as aerospace, electronics, land and maritime defense, and its strong presence in the Asian market. The strategic location in Singapore also provides an advantage in terms of access to Asian markets and partnerships.

Compared to its larger competitors like Lockheed Martin and Raytheon Technologies, which have extensive research and development budgets and long-standing relationships with major government agencies, ST Engineering's economic moat is less pronounced. These companies often have a stronger technological edge and a larger global presence.

However, ST Engineering can remain competitive through its adaptability and regional expertise in Asia, especially in niche markets and through strategic alliances.

Revenue Growth: 8.2% (2024) Profit Growth: 6.5% (2024) Order Backlog: 25 billion SGD (End of 2024)

Singapore Technologies Engineering Ltd (ST Engineering) recorded a revenue growth of 8.2% in 2024, driven by strong demand in the aerospace and defense sectors. The company also achieved a profit growth of 6.5%, attributed to efficiency improvements and cost reduction measures.

The order backlog of 25 billion SGD at the end of 2024 indicates a solid foundation for future growth. This strong order book suggests that the company can continue to generate stable revenues in the coming years.

In addition, ST Engineering is continuously investing in research and development to offer innovative solutions and strengthen its market position. This could lead to improved competitiveness in the long run.

Overall, the financial metrics and strategic direction of the company indicate that ST Engineering represents a promising investment, especially for investors interested in long-term growth.

Dividend yield: 4.2% (2025, estimated)
Dividend history: Paid continuously for over 10 years

Singapore Technologies Engineering Ltd (SGX:S63) is known for its reliable dividend policy. The company has been consistently paying dividends in recent years, demonstrating a strong commitment to its shareholders.

The dividend yield of 4.2% in 2025 reflects an attractive payout compared to other companies in the industry. The continuous payment for more than a decade indicates a stable financial foundation and sustainable earning power.

Given the stable financial performance and strategic direction of the company, the dividend of Singapore Technologies Engineering Ltd is considered reliable.