Civmec remains positive on its future outlook given the robust and growing orderbook, which has increased 17.9% y-o-y to A$1.1b. In addition, Civmec sees a strong pipeline of tendering opportunities across all the sectors in which it operates, with emerging opportunities in new sectors including battery minerals, rare earths and hydrogen plants.
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Solid earnings growth for 1QFY24 and improved net cash position.
Civmec (SGX:P9D)’s 1QFY24 net profit of A$15.2m (+7.3% y-o-y) is in line with our expectations, accounting for 24% of our full-year estimate. Net margin remained flat y-o-y but improved q-o-q by 2.6ppt, driven by the delivery of higher-return projects and better cost management.
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We expect Civmec to continue to deliver a strong set of results moving forward.
Robust orderbook with tendering opportunities across all sectors.
Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research. Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
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