SINGAPORE - Energy, water and marine group Sembcorp had a challenging year in 2015, reporting a drop in turnover and net profit, according to its annual report.
From 2015 to 2014, group turnover dropped from S$10.9 billion to S$9.5 billion with profits falling from S$801.1 million to S$548.9 million.
A net loss in the company’s Marine business was attributed to be part of the reason for the overall decline.
In terms of desalination, the company said it has started operations of its Fujairah 1 Independent Water and Power Plant, which it said has become one of the largest reverse osmosis desalination facilities in the Middle East.
In 2015, the Utilities business delivered a 72% growth in net profit to S$701.5 million compared to S$408.0 million in 2014.
A move to divest its municipal water operations in Bournemouth, UK and Zhumadian, China seems to have benefitted the firm, leading to a net gain of over S$400 million.
The company’s water and wastewater treatment capacity, however, decreased to 9.2 million m3/day, from 9.5 million m3/day in 2014.
Sembcorp said it plans to add over 1.3 million m3/day of treatment capacity over the next three years.
Tang Kin Fei, group president & CEO, Sembcorp, said: “Over the years, the business has strengthened its capabilities and established new engines for growth. From our beginnings in gas-fired power plants, we now have a balanced portfolio of efficient thermal and renewable energy assets running on gas, coal, wind, solar and energy-from-waste. We have also become the leader in industrial water and wastewater solutions, which are becoming increasingly relevant globally, especially in rapidly developing economies.”
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