Venture Corporation - UOB Kay Hian 2024-02-23: 2023 In Line; Expect A Better 2H24 Than 1H24

Venture Corporation - 2023 In Line; Expect A Better 2H24 Than 1H24

Published:
Venture Corp (SGX:V03) | SGinvestors.ioVenture Corp (SGX:V03)
  • Venture Corp's 2023 earnings of S$270m (-27% y-o-y) are in line with our forecasts. 2023 revenue fell 22% y-o-y due to soft customer demand and ongoing inventory destocking. Based on the feedback of Venture Corp's customers, the demand schedule is expected to be stronger in 2H24 vs 1H24.
  • - Read this at SGinvestors.io -

FY23 Results in line with expectations.

  • Venture Corporation (SGX:V03)’s 2023 earnings of S$270m (-27% y-o-y) were in line with expectations, forming 101% of our full-year estimate.
  • - Read this at SGinvestors.io -
  • 2023 net margin fell 0.7ppt to 8.9%, mainly due to higher tax, inflationary cost pressure and lower operating leverage as revenue declined

Expect stronger 2H24 vs 1H24.

  • Based on customers’ feedback, Venture Corp expects that the demand schedule will be stronger in 2H24 vs 1H24.
  • To recap, Venture Corp was still coming off the high base quarter in 1Q23 where it recorded earnings of S$74m, before normalising in 2Q23- 4Q23 with earnings of S$63-67m.

Actively investing

  • 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/.



John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-02-23



Read also UOB's most recent report:
2025-01-21 Venture Corporation - Remain Focused & Cautiously Optimistic For The Medium Term.

Previous report by UOB:
2024-07-31 Venture Corporation 2Q24 Results Preview - Expect A Sequential Improvement.

Price targets by 4 other brokers at Venture Corp Target Prices.

Listing of research reports at Venture Corp Analyst Reports.

Relevant links:
Venture Corp Share Price History,
Venture Corp Announcements,
Venture Corp Dividend Payout Dates & Corporate Actions,
Venture Corp News






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