Sembcorp H1 Profit Falls 1% on Lower Gas Revenue, Renewables Rise Across Asia

Sembcorp Industries reported a slight decline in earnings for the first half of 2025, with net profit falling 1% to S$536 million amid an 8% drop in revenue to S$2.9 billion. The decrease was primarily due to lower contributions from the Gas and Related Services segment, impacted by reduced generation spreads in Singapore and the absence of revenue from the Phu My 3 power plant in Vietnam, which was transferred to a state provider. Despite this, the renewables segment saw significant growth, with earnings rising over 20% and installed capacity increasing to 13.8 GW, driven by new capacity additions and better wind resources in India. The Integrated Urban Solutions segment also posted gains, supported by increased land sales in Indonesia and improved water business earnings in China. The company announced an interim dividend of 9 cents per share, up from 6 cents a year ago, signaling confidence in its sustainable dividend payout strategy. Sembcorp remains committed to its transition towards greener energy solutions, focusing on expanding its renewables portfolio while managing costs and optimizing its overall business.