Frencken - 2022 Earnings Above Expectation, But Outlook Turning Cautious; Downgrade To HOLD
FRENCKEN GROUP LIMITED (SGX:E28)
- Frencken expects 1H23 revenue to be softer than 2H22 due to a slowdown across most of its key segments on the challenging macroeconomic environment. We cut our 2023 earnings forecast for Frencken by 19%.
- Read this at SGinvestors.io -
- Frencken’s 2022 earnings of S$52m (-12% y-o-y) beat our estimate by 11%. 2023 revenue grew 2.5% y-o-y, with semiconductor (+5% y-o-y), medical (+7% y-o-y) and industrial automation segments (+5%) recording growths, while automobile (-12% y-o-y) declined.
Frencken's 2022 earnings of S$52m (-12% y-o-y) beat our estimate by 11% on net margin recovery.
- Read this at SGinvestors.io -
Marginal revenue growth with mixed performance across different segments.
- 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/ 2023-03-01
Previous report by UOB:
2023-01-27 Frencken - Positive Outlook For Key Customer & Improving Cost Pressure.
Price targets by 3 other brokers at Frencken Target Prices.
Listing of research reports at Frencken Analyst Reports.
Relevant links:
Frencken Share Price History,
Frencken Announcements,
Frencken Dividends & Corporate Actions,
Frencken News Articles
