- AEM’s 1Q24 revenue of S$94m (-38% y-o-y) is in line with expectation, but earnings of S$2.4m (-85% y-o-y) is below expectation at only 7% of our full-year estimate.
- AEM maintained its 1H24 revenue guidance of S$170m-200m. However, the near-term outlook has worsened as visibility in 2H24 remains limited, and any uptick in growth is expected to occur only in 2025.
- - Read this at SGinvestors.io -
1Q24 earnings missed expectation due to weaker-than-expected net margin.
- AEM (SGX:AWX)'s 1Q24 revenue of S$94m (-38% y-o-y) is in line with expectation, at 21% of our full-year estimate. However, 1Q24 earnings of S$2.4m (-85% y-o-y) is below expectation, at only 7% of our full-year estimate.
- - Read this at SGinvestors.io -
Near-term outlook remains uncertain, with uptick in growth expected to occur only in 2025.
- 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 | https://research.uobkayhian.com/ 2024-05-09
Previous report by UOB:
2024-01-17 AEM - Downgrade To HOLD On Inventory Write-Downs & Limited Near-Term Catalysts.
Price targets by 3 other brokers at AEM Target Prices.
Listing of research reports at AEM Analyst Reports.
Relevant links:
AEM Share Price History,
AEM Announcements,
AEM Dividends & Corporate Actions,
AEM News Articles
