- Grand Venture Technology (SGX:JLB)'s 9M23 revenue of S$82.4m (-17.6% y-o-y) broadly in line with expectations. 9M23 contributions account for 74% of our full-year estimates.
- Excess inventories in the face of a semiconductor downcycle continued to weigh on Grand Venture’s top line, resulting in a 32.5% decline in the semiconductor segment.
- - Read this at SGinvestors.io -
- Higher aerospace contributions were offset by weakness in the electronics and others subsegments.
Our thoughts
Industry emerging out of a chip glut but pronounced uptick for Grand Venture likely delayed till 2H24.
- - Read this at SGinvestors.io -
- Across the industry, it appears that capital investments by semiconductor players could lag sales growth, given the uncertain macroeconomic climate. Grand Venture also sees continued headwinds for the rest of 2023, a gradual improvement into 2024, followed by a more pronounced uptick in 2H24.
Healthy demand for life sciences; aerospace up and coming.
- 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/.
Amanda TAN DBS Group Research | Lee Keng LING DBS Research | https://www.dbs.com/insightsdirect/ 2023-11-17
Read also DBS's most recent report:
2024-02-27 Grand Venture Technology - Delayed But Not Derailed.
Price targets by other brokers at Grand Venture Target Prices.
Listing of research reports at Grand Venture Analyst Reports.
Relevant links:
Grand Venture Share Price History,
Grand Venture Announcements,
Grand Venture Dividends & Corporate Actions,
Grand Venture News Articles
