Nanofilm Technologies - UOB Kay Hian 2023-02-23: 2022 Results Miss Expectations; Challenging Near-Term Outlook

Nanofilm Technologies - 2022 Results Miss Expectations; Challenging Near-Term Outlook

Published:
NANOFILM TECHNOLOGIES INTL LTD (SGX:MZH) | SGinvestors.ioNANOFILM TECHNOLOGIES INTL LTD (SGX:MZH)
  • NanoFilm’s 2022 earnings of S$44m (-30% y-o-y) missed our estimate by 16% due to a challenging operating environment.
  • NanoFilm faces a challenging outlook in 2023 as the macro environment remains tough with inflationary pressures and rising interest rates. Nanofilm’s China operations are expected to remain soft in 1Q23, and should see a gradual recovery only in 2H23.
  • - Read this at SGinvestors.io -

Nanofilm's 2022 results below expectations due to multiple challenges.

  • NanoFilm Technologies (SGX:MZH)’s reported adjusted PATMI of S$44m (-30 % y-o-y) missed our expectation by 16%. NanoFilm had earlier issued a profit warning and warned of a weak performance, so this does not come as a major surprise.
  • - Read this at SGinvestors.io -
  • higher expansion costs for future growth,
  • disruptions faced by a key final assembly supplier of its major customer,
  • China's quick reopening in Dec 22 which has caused a spike in infections, and
  • softer end-consumer demand due to recessionary fears.

Two Business Units were down, with Nanofabrication Business Unit (NFBU) being the only bright spot.

  • 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/ 2023-02-23



Read also UOB's most recent report:
2023-11-09 Nanofilm Technologies - Expect Weakness To Continue In 4Q23; Downgrade To SELL.

Previous report by UOB:
2023-08-14 Nanofilm Technologies - 1H23 In-Line But Slower-Than-Expected Recovery For 2H23.

Price targets by other brokers at NanoFilm Target Prices.

Listing of research reports at NanoFilm Analyst Reports.

Relevant links:
NanoFilm Share Price History,
NanoFilm Announcements,
NanoFilm Dividends & Corporate Actions,
NanoFilm News Articles





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