Seatrium's First-Half Profit Soars 301% to $144m on Strong Order Book

Shares fall 5.4% despite results, on heels of financial penalty news in Brazil graft case

- Sue-Ann Tan

Seatrium's net profit for the first half of 2025 swelled on the back of a strong order book and higher margins, the company announced in a filing on the Singapore Exchange on July 31.

Profit for the six months ended June 30 was $144 million, a 301 percent jump from $36 million for the first half of 2024.

But underlying net profit, which excludes legal and corporate claims, rose 16 percent to $133 million from $115 million.

No dividend was proposed for the period, the same as for the year-ago period.

Despite the strong results, Seatrium shares fell 5.4 percent, or 13 cents, to $2.27 on July 31. The stock was the most heavily traded by volume with 41.8 million shares changing hands.

Seatrium's results come a day after the offshore and marine company announced the conclusion of the Singapore authorities' investigation into potential offences in Brazil. The Singapore-listed company was implicated in Operation Car Wash, a major corruption scandal in Brazil which involved allegations of paying bribes to secure contracts.

Seatrium on July 30 said it will pay financial penalties to the Brazilian and Singapore authorities totaling $241.7 million to settle the long-drawn corruption probe.

As at the end of June, Seatrium's net order book stood at $18.6 billion, of which $6.3 billion is for renewables and cleaner or green solutions.

The order book comprises 25 projects with deliveries till 2031.