- NanoFilm Technologies (SGX:MZH)'s revenue slumped 19.0% y-o-y to S$55.0m in 3Q23 and 9M23 revenue fell 29% y-o-y to S$128m. 9M23 revenue formed 73.0%/68.0% of our/Bloomberg consensus FY23F forecasts.
- - Read this at SGinvestors.io -
Cautious outlook
- On FY23F outlook, NanoFilm commented that its bottomline may be negatively affected if end-consumer demand for consumer electronics product remains weak in 4Q23F.
- Overall, production volumes were down y-o-y in 3Q23 but NanoFilm thinks that its key customer is seeing improvement in reducing its inventory levels.
Remain vigilant on its cost structure.
- - Read this at SGinvestors.io -
- In Europe, NanoFilm highlighted that it is exploring acquisitions in order to enter the European market to provide its coating services.
- In Vietnam, production for its second Vietnam site could commence after 1Q24F and
- in India, NanoFilm is finalising a factory-in-factory arrangement with a partner to provide coating services there to its key customer.
Cut our FY24-25F EPS estimates by 35- 56%
- 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 2023-11-08
Read also CGS-CIMB's most recent report:
2024-01-03 Nanofilm Technologies - Acquires A Foothold In Germany; Foray Into Europe.
Price targets by 3 other brokers at NanoFilm Target Prices.
Listing of research reports at NanoFilm Analyst Reports.
Relevant links:
NanoFilm Share Price History,
NanoFilm Announcements,
NanoFilm Dividends & Corporate Actions,
NanoFilm News Articles