- Frencken (SGX:E28) reported 3Q23 revenue of S$184.4m (-5.6% y-o-y, +3% q-o-q). Though the gross profit margin contracted to 12.4% from 13.7% in 3Q22 due to lower revenue, inflationary cost pressures, and increased depreciation expenses, as Frencken continues to upgrade and expand its global manufacturing facilities, it is still a shade better than the 12.3% in 1H23.
3Q23 revenue in line but net profit above expectations
- - Read this at SGinvestors.io -
Segmental performance – Semiconductor saw strong recovery q-o-q:
- Semiconductor – revenue decreased 10.5% y-o-y to S$74.6m.
- Europe saw higher orders from a key semiconductor equipment customer, but this was insufficient to fully compensate for lower sales in Asia, which was affected by the industry slowdown.
- - Read this at SGinvestors.io -
Sequential improvement in net margins; expect continued recovery from trough margin of 3% registered in 1Q23.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Lee Keng LING DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-11-23
Read also DBS's most recent report:
2024-08-19 Frencken Group - Optimistic Outlook, Semiconductor Shines.
Previous report by DBS:
2024-02-28 Frencken Group - Recovery Intact; A Stellar FY23 Boosted By Strong Performance In Europe.
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