The absence of a few one-off major contracts drove the decline.

CSE Global's order intake fell 37.7% YoY to $186.7m in Q3 2024.

The company attributed the decline to the few one-off major contracts worth $133.9m secured in Q3 2023.

Excluding these contracts, the company's order intake would only fall by 10.6% YoY.

CSE Global saw declines in order intake across all its business segments, let by electrification which posted a 57.4% YoY drop to $78.3m.

The Communications and Automation segment fell 8.9% YoY to $60.5m and 3.3% YoY to $47.8m, respectively.