ST Engineering (SGX:S63) is a global technology, defense and engineering group with roots tracing back to Chartered Industries of Singapore established in 1967. Established back then to provide manufacturing services for ammunition, ST Engineering has evolved to become a group that has businesses in a diverse range of sectors.
In this post, I'll be going through the different segments, their performance and my thoughts on the company.
Pre and Post-Restructuring
From 2021, ST Engineering will organize it's segments into three broad umbrellas, each with it's own sub-segments detailed below. The commercial segments, including aerospace and urban solutions/satellite communications make up roughly 50% of the group's revenue. This is set to increase, as these particular segments were hit hard by COVID-19 compared to the more resilient defence industry.
Prior to this, the group was structured with 4 main pillars: Aerospace, Land Systems, Electronics and Marine. As you can see, the restructuring isn't very straightforward, with some splitting and merging here and there....