- 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.
