Seatrium releases transcript of 1H2026 results briefing

• Seatrium released a transcript of its 1H2026 results briefing on July 31, 2026, attended by CEO Chris Ong, CFO Stephen Lu, analysts, and media.
• Revenue rose 5% to SGD 5.6 billion; gross margin widened to 8.6%; NPAT was SGD 212 million excluding divestment gains, SGD 373 million reported.
• Free cash flow was SGD 237 million excluding a SGD 73 million “Car Wash” settlement; liquidity was SGD 3.4 billion; net leverage was 0.5x.
• Net order book stood near SGD 13.3 billion; management cited a SGD 32 billion 24-month pipeline, with growth led by LNG-related prospects.
• Management confirmed P-80 and P-82 sailaway in 2H2026; BOT tenders seen as similar EPC exposure with an operator fronting the structure.

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