- Aztech (SGX:8AZ) reported a decent 3Q22, with revenue and NPAT rising 71.8% and 15.6% y-o-y, but both came in below our estimates, mainly due to a S$15.4m FX hedge fair value loss on the weakening of the RMB to the US$.
- - Read this at SGinvestors.io -
- We expect a strong 4Q22E core on a robust order book of S$820.5m (as of 3 Nov 2022) but it might be dragged down by further FX losses. As a result, we cut our FY22E PATMI forecast for Aztech by 7.5% to reflect FX losses, resulting in a 5% lower target price of S$0.79 based on 7x FY22E P/E.
Aztech's FX loss likely to continue in 4Q22E
- - Read this at SGinvestors.io -
Management does not see signs of slowdown
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2022-11-04
Read also Maybank's most recent report:
2024-04-25 Aztech Global - 1Q24 Hiccup, But Prospects Still Positive.
Previous report by Maybank:
2024-02-23 Aztech Global - Still Positive FY24 Prospects.
Price targets by 2 other brokers at Aztech Target Prices.
Listing of research reports at Aztech Analyst Reports.
Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividends & Corporate Actions,
Aztech News Articles
