- AEM’s 2022 earnings of S$127m (+38% y-o-y) are below our estimate by 4%. 2022 was an exceptionally strong year from the ramp-up of its new platform and strong demand from customers, which resulted in revenue growing 54% y-o-y.
- - Read this at SGinvestors.io -
- Maintain HOLD with an 8% lower target price of S$2.78 for AEM.
AEM's 2022 earnings slightly below expectations; achieved 38% y-o-y growth on the back of new platform ramp-up and strong demand from customers.
- - Read this at SGinvestors.io -
- Revenue of the test cell solutions segment grew 57% y-o-y to S$683m, spurred by a strong increase in demand by its key customer for both equipment and consumables. This demand was driven in part by a pull-in from 2023 for capacity needs.
- AEM’s wallet share at its key customer has expanded as it addresses new capabilities and related consumables required by its next generation devices.
AEM has released a conservative 2023 revenue guidance of S$500m.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-02-28
Read also UOB's most recent report:
2024-11-14 AEM - 3Q24 Earnings Below Estimate & Outlook Remains Uncertain; Maintain SELL.
Previous report by UOB:
2024-08-15 AEM - 1H24 Earnings & Guidance Way Below Estimates; Reduce Target Price By 38%.
Price targets by 2 other brokers at AEM Target Prices.
Listing of research reports at AEM Analyst Reports.
Relevant links:
AEM Share Price History,
AEM Announcements,
AEM Dividends & Corporate Actions,
AEM News Articles
