- ISDN (SGX:I07)’s FY23 revenue fell 7.8% y-o-y to S$341.8m, 1.3% above our S$337.4m forecast. ISDN’s China industrial automation revenue (73% of FY23 revenue) grew 6.6% y-o-y in in renminbi terms but was down 2.4% y-o-y as the renminbi weakened against the Singapore dollar in FY23.
FY23 performance hit by semicon slowdown and one-offs
- - Read this at SGinvestors.io -
- As ISDN holds the view that demand in both its China market and the semicon industry in Southeast Asia would recover over FY24-26F, the group did not aggressively reduce its cost structure in the face of weaker revenue. While distribution expenses fell 8.3% y-o-y, administrative expenses grew 3.2% y-o-y.
- - Read this at SGinvestors.io -
Management is cautiously optimistic on FY24F
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGSI Research.
Clients of CGS International may access the full report in PDF @ https://itrade.cgsi.com.sg/.
William TNG CFA CGS International Research | https://itrade.cgsi.com.sg 2024-03-18
Price targets by other brokers at ISDN Target Prices.
Listing of research reports at ISDN Analyst Reports.
Relevant links:
ISDN Share Price History,
ISDN Announcements,
ISDN Dividends & Corporate Actions,
ISDN News Articles
