- 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.
