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 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/ 2024-02-23



Previous report by UOB:
2024-01-29 Venture Corporation - Expect Earnings Recovery In 4Q23 & 2024; Raise Target Price By 16%.

Price targets by 6 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 Dividends & Corporate Actions,
Venture Corp News Articles





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