ST Engineering

[Tiggerbee]

STE's aerospace biz seems to be facing the same problem as SIAEC.

Group’s revenue of $1,553 million for 3Q2014 was comparable to that of 3Q2013. Higher revenue from Marine sector was largely offset by lower revenue recorded by Aerospace sector, while revenue for Electronics and Land Systems sectors were comparable. The lower revenue under “Others” was mainly attributable to Miltope.
Aerospace sector’s 3Q2014 revenue of $470 million was 8% or $40 million lower than that of 3Q2013, mainly attributable to lower revenue in the Component/Engine Repair & Overhaul business group.
3Q2014 revenue of $354 million for the Electronics sector was comparable to that of 3Q2013. The higher revenue from Large-Scale Systems Group (LSG) and Software Systems Group (SSG) was
largely offset by lower revenue from Communication & Sensor Systems Group (CSG). The higher LSG revenue was mainly due to milestone completions of the Land Transport Authority’s Circle Line
project and the MRT projects in Bangkok and Wuxi, while milestone completions of various software system projects accounted for the higher revenue in SSG. For CSG, the lower revenue was mainly
attributable to lower sales of satellite communication products.
Land Systems sector’s 3Q2014 revenue of $357 million was comparable to that achieved in 3Q2013.
The higher revenue recorded by Munitions & Weapon business group from higher project deliveries, was partially offset by lower revenue in the Automotive and Services, Trading & Others business groups.
Revenue of Marine sector in 3Q2014 of $336 million was higher than that of 3Q2013 by 14% or $40 million, due mainly to higher Shipbuilding revenue from the local operation as well as higher
Engineering revenue, but partially offset by lower Shiprepair revenue.