Highlights from the Announcement

• ST Engineering announced \$4.7 billion in new contract wins for Q4 2025, driving full-year contract awards to a record \$18.7 billion—a 49% year-on-year increase from 2024’s \$12.6 billion.
• The contract wins are distributed as follows:
  • Commercial Aerospace: \$1.7 billion
  • Defence & Public Security: \$2.5 billion
  • Urban Solutions & Satcom: \$0.5 billion
• This achievement positions ST Engineering as one of the leading companies on the Singapore Exchange, reinforcing its membership in major indices such as MSCI Singapore, FTSE Straits Times Index, and Dow Jones Best-in-Class Asia Pacific Index.

Detailed Segment Breakdown

Commercial Aerospace

• MRO Contracts:
  • Five-year nacelle maintenance agreements to support the Boeing 787 fleets of LOT Polish Airlines and another major European carrier.
  • Multi-year airframe maintenance agreement to support various platforms, including Boeing 787, for a North American airline.
• Aerostructures & Systems (A&S):
  • Healthy demand for engine nacelles and composite floor panels, boosted by new aircraft production.

Defence & Public Security

• Land Systems:
  • Major contract from Singapore’s Ministry of Defence for the production and supply of next-generation Infantry Fighting Vehicles (IFVs).
  • Significant ammunition orders (40mm and 120mm) from international customers.
• Digital Systems:
  • Contract with HTX (Home Team Science and Technology Agency) to design and implement the Enterprise Integrated Security System (EISS) for Singapore Prison Service, aiming to unify and enhance security operations.
  • Multiple wins for cloud infrastructure services and training & simulation systems for both local and international clients.
• Cyber Business:
  • Contracts for advanced cybersecurity systems and secure data transfer products, including encryptors and data diodes, with local partners.
• Defence Aerospace:
  • Ongoing contracts for engineering and MRO for military aircraft customers, as well as project, training, medivac, and executive charter flights for international clients.
• Marine Business:
  • Contracts for maintenance and repair of commercial vessels for multiple customers.

Urban Solutions & Satcom

• Urban Solutions:
  • Contract to provide electronics solutions for Changi Airport Terminal 2 Skytrain.
  • Supply of 250 electric buses to Singapore Land Transport Authority.
  • New U.S. contracts for tolling systems, upgrades, and RFID tags.
  • Integrated smart security management projects for Singapore public sector clients.
  • Access management system for both stations of the Johor Bahru-Singapore Rapid Transit System.
• Satcom:
  • Ground segment infrastructure contracts from government customers in Asia and Europe, as well as network expansions for multi-orbit service offerings.

Investor-Relevant Insights

• The 49% YoY increase in contract wins signals robust growth momentum and a strong competitive position across all business segments.
• Significant long-term contracts, especially with government entities (Singapore Ministry of Defence, HTX, Singapore Land Transport Authority), suggest sustained revenue visibility and solid client relationships.
• Continued expansion in both commercial and defence aerospace, urban mobility, smart city infrastructure, and cybersecurity positions ST Engineering for diversified and resilient earnings streams.
• The announcement explicitly states that these contracts are not expected to have a material impact on net tangible assets per share or earnings per share for the current financial year. This may temper immediate expectations for short-term profitability but highlights long-term order book strength.
• Given the record contract wins and sectoral diversification, the news is potentially price sensitive and may serve as a positive catalyst for share price, especially for long-term investors seeking stability and growth in the engineering and technology sector.

Corporate Background

ST Engineering is a global technology, defence, and engineering group headquartered in Singapore, with operations across Asia, Europe, the Middle East, and the U.S. The company serves customers in over 100 countries and reported revenue of over \$11 billion in FY2024. It is recognized as one of the largest companies on the Singapore Exchange and a component stock of several major indices.

Contact Information

For further enquiries, contact:
Letticia Fong
VP, Group Corporate Communications
Email: [email protected]

Disclaimer

This article is provided for informational purposes only and does not constitute investment advice or an offer to buy or sell securities. Investors should conduct their own research and consult with professional advisers before making investment decisions. The information contained herein is based on company announcements and may be subject to change without notice.

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