- Aztech’s 1Q23 earnings after excluding S$3.1m forex impact is S$16.5m (+19% y-o-y) and this is largely in line with our forecast, forming 16% of our full-year estimate.
- IoT devices continued to be a key growth driver, driving revenue growth of 26% y-o-y. Aztech's orderbook remains healthy at S$662m as of 4 May 23, of which majority are planned for completion in 2023.
- - Read this at SGinvestors.io -
Aztech's 1Q23 earnings largely in line with our expectation; respectable core earnings growth of 19% y-o-y.
- - Read this at SGinvestors.io -
- The negative forex impact was mainly due to stronger local currencies at operating locations. IoT devices and data-communication products continued to be a key growth driver, driving revenue growth of 26% y-o-y. Excluding the forex impact, Aztech’s performance benefitted from revenue growth efficiency gains and higher interest income.
Orderbook remains strong with multi-pronged component management approach for component tightness.
- 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 | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2023-05-05
Read also UOB's most recent report:
2024-02-26 Aztech Global - 2023 Results Above Expectations; Raise Target Price By 13%.
Previous report by UOB:
2023-10-17 Aztech Global - 3Q23 Record-high Earnings Beat Expectations; Moderately Optimistic About Outlook.
Price targets by 2 other brokers at Aztech Target Prices.
Listing of research reports at Aztech Analyst Reports.
Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividends & Corporate Actions,
Aztech News Articles
