- Civmec’s 1HFY23 interim dividend of A$0.02 beat our expectation by 100%. Its earnings of A$28m (+25% y-o-y) are in line with our expectation, driven by net margin expansion from more favourable contract terms.
- - Read this at SGinvestors.io -
- Civmec's dividend yield is attractive at 7% for FY24. Maintain BUY. Target price: S$1.10.
Civmec's 1HFY23 results in line with expectation; earnings up 25% y-o-y.
- - Read this at SGinvestors.io -
- Revenue grew 8% y-o-y, with revenue of the resources segment growing 12% y-o-y to A$33.2m, revenue of the infrastructure & defense segment up 90% y-o-y to A$6.6m and revenue of the energy segment rising 66% y-o-y to A$2.4m.
- Net margin grew 1.2ppt, mainly due to better operating leverage and more favourable contract terms as most of Civmec’s customers in the resources industry are making good profit. See Civmec's announcement dated 09 Feb 2023.
Outperformance in dividend by 100% due to strong cash flow from operations.
- Read more at SGinvestors.io.
