Nanofilm Technologies - UOB Kay Hian 2024-04-24: 1Q24 Revenue In Line But Still Loss-Making; Maintain SELL On Rich Valuation

• Maintain SELL with a 6% lower NanoFilm target price of S$0.56 after cutting our 2024 EPS. NanoFilm share price is trading at 18x 2024F P/E vs 14x for Singapore peers.
• - Read this at SGinvestors.io -
• AMBU saw a 41% y-o-y growth due to a 51% growth in the 3C sector and a 24% growth in the automobile sector. Gross margin rose 3ppt y-o-y due to increased contribution from the 3C and industrial segments.

Revenue in line but still in a loss-making position in 1Q24.

• NanoFilm Technologies (SGX:MZH)’s 1Q24 revenue of S$39m (+19% y-o-y) is in line with our estimates, at 20% of our full-year estimates. However, NanoFilm is still in a loss-making position in 1Q24, although the loss is narrowing y-o-y.
• - Read this at SGinvestors.io -
• Gross margin improved 3ppt y-o-y to 33% due to increased contribution from the 3C and industrial segments.

AMBU delivered growth, offsetting decline in IEBU while NFBU was flattish.

• 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/.

Read also UOB's most recent report:
2025-04-23 Nanofilm Technologies - 1Q25 Revenue In Line But Gross Margin Misses Expectations.

Previous report by UOB:
2024-10-30 Nanofilm Technologies - 3Q24 Revenue In Line With Expectations; Maintain SELL On Rich Valuation.

Price targets by other brokers at NanoFilm Target Prices.

Listing of research reports at NanoFilm Analyst Reports.

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