The airframe MRO division of Singapore Technologies Engineering (ST Engineering) saw a 19% year-on-year increase in its revenues in 2016. ST Aerospace posted full-year revenues of S$2.48 billion (US$1.74 billion), compared to 2015’s S$2.09 billion (US$1.47 billion).
It attributed a large share of the rise to its Germany-based composite structure and interiors subsidiary Elbe Flugzeugwerke, which saw its profit before tax climb from S$290.6 million (US$204.5 million) in 2015 to S$300.3 million (US$211.5 million) last year.
ST Aerospace announced the last quarter of 2016 brought about a contract value of around S$840 million, with the total annual value reaching S$2.57 billion (US$1.76 billion) for the year.
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