Civmec - Maybank Research 2023-05-11: On Track To Deliver

Civmec - On Track To Deliver

Civmec (SGX:P9D) | SGinvestors.ioCivmec (SGX:P9D)
  • Civmec (SGX:P9D)'s 3QFY23 (Jan to Mar 2023) NPAT grew 20% y-o-y to AUD14.6m, broadly in line with our and street expectations. This brought 9MFY23 earnings to AUD43m (+23% y-o-y) at 78%/76% of MIBG’s/consensus’ full-year forecasts.
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Margins improving along with better utilisation

  • Civmec's 3QFY23 revenue eased 2.7% y-o-y to AUD188m given the lumpy timing of project recognition. That said, EBITDA margin rose 2.7ppt to 14.6% as the group further optimised workforce utilisation.
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Orderbook of AUD1.2b provides clear visibility

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Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @

Eric Ong Maybank Research | 2023-05-11

Read also Maybank's most recent report:
2023-08-29 Civmec - Strong Execution; Bigger Final Dividend Surprise.

Price targets by other brokers at Civmec Target Prices.

Listing of research reports at Civmec Analyst Reports.

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


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