- Aztech Global (SGX:8AZ)’s 1Q24 NPAT of S$15.9m, up 18.7% y-o-y, is below consensus and our estimate. S$20m worth of orders were rescheduled from 1Q24 to 2Q24 due to disruptions to supply chains caused by heavy snowstorms in China.
Hiccup in 1Q24 as heavy snowstorms in China causes production delay
- - Read this at SGinvestors.io -
- Aztech's management still expects y-o-y growth in both the FY24 top-line and bottom-line, and it also expects utilisation to be ramped up to 80% in 2Q24E from 50% in 1Q24 with the majority of the S$456m orderbook to be completed in 2Q24E and 3Q24E.
New customers won – orderbook of S$456m
- - Read this at SGinvestors.io -
- visual IoT display products.
- They contributed about low single digit percentage of 1Q24 revenue.
Should catch up in 2Q24 and 3Q24
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-04-25
Previous report by Maybank:
2024-02-23 Aztech Global - Still Positive FY24 Prospects.
Price targets by 2 other brokers at Aztech Target Prices.
Listing of research reports at Aztech Analyst Reports.
Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividends & Corporate Actions,
Aztech News Articles
