It’s been a tough 18 months for Singapore Technologies Engineering (SGX: S63), or STE.
COVID-19 had impacted air travel and maritime activity and adversely affected 40% of the group’s business.
As a result, STE has seen three out of four of its 2022 targets delayed by one to two years.
Those financial goals were laid down during its 2018 Investor Day, and these objectives have now been refreshed as STE embarks on a new five-year plan.
The engineering specialist now aims to grow its annual revenue at two to three times the global GDP rate to hit more than S$11 billion by 2026.
Recall that the seeds of this growth had already been planted late last year as STE reorganised itself to streamline its group structure.
Here are five highlights from STE’s recent Investor Day presentation.
1. Boosting the commercial aerospace arm
STE is well-poised to ride the recovery in air travel for its commercial aerospace division.