- AEM (SGX:AWX)'s 3Q23 revenue fell 45.8% y-o-y to S$111.7m, beating our expectations of S$92.5m by 20.8%. 3Q23 net loss was S$16.1m, lower than our S$20.4m net loss expectation.
- 9M23 revenue was 84.1%/79.9% of our/Bloomberg consensus’ full-year expectations. We deem 9M23 revenue in line with our expectations as we expect 4Q23F revenue to decline q-o-q.
- - Read this at SGinvestors.io -
- AEM has retained its FY23F revenue guidance of between S$460m and S$490m.
Late FY24F recovery
- On engagements with new customers, AEM has guided that production ramp up for these customers could commence in 2H24F.
- - Read this at SGinvestors.io -
- AEM said it believes demand for test solutions to address this market will be realised towards end-2024F and into 2025F.
Buying into FY25F net profits
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2023-11-10
Previous report by CGS-CIMB:
2023-10-18 AEM - Expect S$20.4m Headline Net Loss For 3Q23F; Await Return Of Demand Over FY24-25.
Price targets by 3 other brokers at AEM Target Prices.
Listing of research reports at AEM Analyst Reports.
Relevant links:
AEM Share Price History,
AEM Announcements,
AEM Dividends & Corporate Actions,
AEM News Articles
