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.
Above is an excerpt from a report by UOB Kay Hian Research. Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
