6 MESSAGE TO STAKEHOLDERS CSE Global Limited our ability to identify value-accretive opportunities that complement our existing businesses while driving earnings growth. In FY2024, we continued to build on this legacy by executing targeted acquisitions that align with our long-term vision and growth drivers. To ensure we are well-positioned to ride the energy transition wave, we acquired Linked Group, a Queensland-based provider of commercial solar energy solutions. This acquisition enhances our electrification capabilities, allowing us to supply and install sustainable power systems that turn existing commercial spaces into renewable energy hubs, as well as gain expertise in building entirely off-grid complexes. To further bolster our Communications business, we acquired RFC Wireless, a move that strengthens our geographic coverage and customer relationships within the USA market. With increasing demand for enhanced connectivity and security, this acquisition reinforces our market reputation as a trusted partner in critical communications solutions. These acquisitions exemplify our disciplined approach to growth—ensuring that each addition is strategically aligned with our core competencies and markets while contributing meaningfully to our financial performance. Beyond expanding our technical expertise, they also deepen our relationships with key stakeholders, including customers, suppliers, and business partners. BUILDING A STRONG TEAM In 2024, our Group Managing Director and Chief Executive Officer, Mr. Lim Boon Kheng, was honoured with the prestigious Best Chief segment’s EBITDA were 7.8% lower at S$25.6 million in FY2024, mainly attributed to an unfavourable sales mix at lower gross margins for international communications businesses. Customers have consistently turned to us for our expertise in providing secure, reliable, and scalable communications infrastructure, further solidifying our reputation as a market leader in this space. Meanwhile, demand for our Automation solutions remained stable, supported by steady requirements in industrial automation and process control. The Automation business segment experienced a revenue growth of 14.3%, increasing from S$170.0 million in FY2023 to S$194.4 million in FY2024. This growth was mainly due to higher revenue contributions from the Americas and Asia Pacific regions. The segment’s EBITDA improved significantly, up 124.2% from S$6.2 million in FY2023 to S$13.8 million in FY2024. To align with current market trends such as heightened AI adoption and cybersecurity needs, we are actively exploring the provision of more automation software solutions to complement our existing hardware offerings. Our recurring revenue streams continue to be stable. Our teams are working hard to convert larger contracts into flow contracts upon project completion, ensuring a steady stream of revenue and long-term customer relationships. In preparation for future growth, we are ramping up production capacity. We have recently completed the divestment of a 16.68-acre industrial property in North Houston, Texas, secured with a long-term lease agreement to ensure the continuity of the production capacity to support our existing business volume. This strategic move frees up capital for the acquisition of a larger property in the USA, enabling us to expand operations, optimise asset utilisation, and generate greater value to shareholders. ACQUIRING CAPABILITIES FOR FUTURE GROWTH Strategic acquisitions remain a cornerstone of CSE Global’s growth strategy to enable the Group to expand our capabilities, diversify income streams, and strengthen market position. Our proven track record of successfully integrating over 40 acquisitions since inception underscores
RkJQdWJsaXNoZXIy NTM2MDQ5