- 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.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2023-05-22
Read also Maybank's most recent report:
2024-10-14 Frencken - Ramp Up Likely Only From 2-3Q25 Onwards.
Previous report by Maybank:
2024-08-16 Frencken - The Sole Shining Beacon With Positive 2H24 Outlook.
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
