- With NanoFilm’s new initiatives still nascent, the outlook for 2024 remains uncertain with macro headwinds. Maintain SELL with a 9% lower NanoFilm's target price of S$0.60 as the P/E mean multiple of NanoFilm deteriorates.
- - Read this at SGinvestors.io -
Lacklustre results due to weaker demand and gross margin.
- NanoFilm Technologies (SGX:MZH) registered a PATMI of S$3.1m (-92.8% y-o-y), marginally above our expectation of zero profit for the year. The substantial decline in PATMI was due to the 25.4% y-o-y fall in revenue and higher depreciation and amortisation expenses of S$3.5m (+4.1% y-o-y).
- - Read this at SGinvestors.io -
- On a h-o-h basis, 2H23 recovered with a PATMI of S$10.8m (-56.9% y-o-y), driven by improving revenue (+42.0% h-o-h) from computer, communication and consumer (3C) recovery and cost efficiencies, as seen in the 8.6ppt expansion in gross margin.
Weaker performance across all BUs.
- 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 | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-02-28
Previous report by UOB:
2023-11-09 Nanofilm Technologies - Expect Weakness To Continue In 4Q23; Downgrade To SELL.
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
