- NanoFilm reported 3Q23 revenue of S$55m (-19% y-o-y, vs S$73m in 1H23). 9M23 revenue is in line with our expectation, forming 80% of our full-year estimate. The operating environment for 3Q23 remains challenging due to weaker consumer sentiment, with expected market volatility in 4Q23.
- - Read this at SGinvestors.io -
- We trim our 2023 and 2024 earnings forecast for NanoFilm by 98% and 34% respectively. Reduce target price for NanoFilm by 34% to S$0.66.
- Downgrade NanoFilm to SELL on a more challenging mid-term outlook.
9M23 revenue in line, profitability achieved in 3Q23 due to better gross margin and cost management.
- - Read this at SGinvestors.io -
- 3Q23 revenue was S$55m (-19% y-o-y, vs S$73m in 1H23), which means that Nanofilm has achieved profitability vs an S$8m loss in 1H23.
- Gross margin improved to above 40% in 3Q23 vs 32% in 1H23 due to ongoing efforts in cost management. This improvement occurred despite a 19% y-o-y decline in revenue. Also, operating expenses dropped by 10% y-o-y in 3Q23.
The operating environment for 3Q23 continued to be challenging.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-11-09
Read also UOB's most recent report:
2024-02-28 Nanofilm Technologies - Weak 2023 Results On Lower Demand; Maintain SELL Due To Uncertain Outlook.
Price targets by 2 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
