- Civmec’s 3QFY23 (Jan to Mar 2023) earnings of A$15m (+20% y-o-y) is in line. 9MFY23 formed 77% of our full-year estimate. 3QFY23 net margin grew 1.5ppt y-o-y. The strong improvement in net margin was driven by delivery of higher-return projects. Civmec continues to see strong tendering activity across all sectors.
- - Read this at SGinvestors.io -
3QFY23 results inline with expectation; earnings up 20% y-o-y with strong net margin xpansion.
- Civmec (SGX:P9D)’s 3QFY23 earnings of A$15m (+20% y-o-y) is in line, with 9MFY23 accounting for 77% of our full-year estimate. 3QFY23 revenue fell 3% y-o-y to A$188m, but net margin grew 1.5ppt y-o-y to 7.8%. Orderbook is maintained at around A$1.2b.
- - Read this at SGinvestors.io -
Outlook remains robust.
- 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/ 2023-05-24
Previous report by UOB:
2023-04-05 Civmec - Secured Contracts In The Green Energy Space & More Maintenance Works.
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
