Frencken - Maybank Research 2023-05-22: Hit By Semicon Weakness But Worst Should Be Over

Frencken - Hit By Semicon Weakness But Worst Should Be Over

Published:
Frencken (SGX:E28) | SGinvestors.ioFrencken (SGX:E28)
  • Frencken (SGX:E28) reported a much weaker 1Q23 than expected, with revenue declining 13% y-o-y to S$172.5m while PATMI fell 59.5% y-o-y to S$5.2 m, mainly due to weakness in the semi-con and industrial automation segments as well as a lower utilisation rate.
  • - Read this at SGinvestors.io -

Weaker semi-con demand leading to lower utilisation

  • - Read this at SGinvestors.io -
  • Frencken's key customer in Singapore has high inventory levels hence new orders are likely to be delayed towards 2024. Hence, we believe a continued slowdown is inevitable and we don’t expect semi-con revenue to pick up again until FY24E.

Analytical revenues to continue to grow

  • Read more at SGinvestors.io.




Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.ketrade.com.sg/.




Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2023-05-22



Read also Maybank's most recent report:
2023-11-24 Frencken Group - Rock Bottom Hit; Recovery On Track.

Previous report by Maybank:
2023-11-02 Frencken Group - Positive Recovery Signals.

Price targets by 4 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





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