- Frencken expects stable revenue in 1H24 vs 2H23 and will continue to focus on its programmes for customers to ensure it is well-positioned for a recovery.
- Frencken’s 2023 earnings of S$33m (-37% y-o-y) are 27% above our expectation. Semiconductor and analytical & life science were the best performers in 2H23, recording 30% and 11% h-o-h growth respectively, mainly driven by strong demand of key customers from Europe.
2023 earnings of S$33m (-37% y-o-y) are above expectations.
- - Read this at SGinvestors.io -
2H23 revenue recorded y-o-y decline of 1% but increased 12% h-o-h.
- - Read this at SGinvestors.io -
- On the other hand, the industrial automation (-29% h-o-h) and automobile (-2% h-o-h) segments declined. In the semiconductor space, sales to a key customer in Europe was higher y-o-y in 2023.
- Sales in the medical and analytical & life science segments also grew due to higher sales in Europe.
Stable outlook for 1H24 vs 2H23 and Frencken continues to focus on programmes for existing and new customers.
- Read more at SGinvestors.io.
