Data centre demand boosts CSE Global’s Q1 revenue by 29.1% to S$265.2 million

[SINGAPORE] Systems integration specialist CSE Global posted a 29.1 per cent rise in revenue to S$265.2 million for the three months ended Mar 31, boosted by fresh demand from the data-centre industry.

Q1 revenue from CSE’s electrification segment rose 50.1 per cent to S$146.3 million, mainly due to “major” contracts in the data-centre market in the Americas region, the company announced in a business update after trading hours on Thursday (May 14).

CSE’s communications segment logged an 18.5 per cent revenue growth to S$68.6 million, due to contributions from Australia and New Zealand operations, as well as a recently acquired subsidiary.

The automation segment’s revenue remained largely flat at S$50.3 million.

Along with the overall top-line growth, CSE’s Q1 order intake also rose 74.6 per cent to S$271.2 million. Of this, S$177.8 million in order intake came from the electrification segment, quadrupling from the year-ago period.

“The strong order momentum was largely supported by continued demand from the data-centre market, in line with the group’s strategic focus on expanding its presence in the sector,” CSE said.

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Order intake in the communications segment rose 20.8 per cent to S$76.9 million. This was driven by acquisitions that expanded the segment’s presence in the US, as well as stronger order flows in the Asia-Pacific.

The automation segment however had a 70.4 per cent fall in Q1 order intake to S$16.4 million.

CSE ended Thursday at S$1.69, up by S$0.05 or 3.1 per cent.