Civmec - UOB Kay Hian 2023-08-30: Dividend Beats Expectation By 25%; Tendering Activities Remain Strong

Civmec - Dividend Beats Expectation By 25%; Tendering Activities Remain Strong

Published:
Civmec (SGX:P9D) | SGinvestors.ioCivmec (SGX:P9D)
  • Civmec's FY23 earnings of A$57.7m (+13.7% y-o-y) are slightly above expectations, forming 103% of our full-year estimate. This was driven by higher gross profits across all sectors, leading to a 0.6ppt y-o-y expansion in net margin.
  • - Read this at SGinvestors.io -
  • Civmec continues to see strong tendering activities across all sectors and we expect its robust orderbook to drive further growth. Maintain BUY with a target price of S$1.23.

FY23 results in line with expectations; revenue growth across most sectors with strong net margin expansion.

  • Civmec (SGX:P9D)’s FY23 earnings of A$57.7m (+13.7% y-o-y) are in line, forming 103% of our full-year forecast. Revenue rose 2.7% y-o-y to A$830.9m, mainly due to higher y-o-y contributions from the energy and resources segments of 42.3% and 7.6% respectively, offset by the 26.2% y-o-y fall in revenue from the infrastructure, marine and defence segments (13% of FY23 revenue).
  • - Read this at SGinvestors.io -

Positive outlook amid buoyant tendering activities.

  • 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/ 2023-08-30



Previous report by UOB:
2023-05-24 Civmec - Robust Earnings Growth Of 20%; Laggard Vs Singapore O&G Peers.

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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