Venture Corporation - Maybank Research 2024-05-05: 1Q Disappoints But Brighter Outlook

Venture Corporation - 1Q Disappoints But Brighter Outlook

Published:
Venture Corp (SGX:V03) | SGinvestors.ioVenture Corp (SGX:V03)
  • Venture Corp (SGX:V03) reported revenues of S$666.7m and NPAT of S$60.1m, slightly below our estimate of S$64m as we were expecting a weaker 1Q24. However, management is bullish on its prospects ahead and expects 2Q24 to be better than 1Q24, while it also expects 2H24E to be better than 1H24E.
  • - Read this at SGinvestors.io -

Softer demand and destocking weighs on 1Q

  • Venture Corp's 1Q24 revenue dropped 18.9% y-o-y to S$666.7m while NPAT decreased by 18.3% y-o-y to S$60.1m. This is mainly due to weaker demand amid some headwinds which have begun to taper off.
  • Life science and certain segments of the network and communications market also faced some destocking which contributed to weaker demand.

Better quarters ahead

  • - Read this at SGinvestors.io -
  • It also remains confident of maintaining net margins of between 8-10% for FY24E and continues to see significant growth opportunities in eco-systems like life sciences, test & measurement instrumentation, hyperscale data centres, semi-conductor equipment, advanced industrial, networking & communications and luxury lifestyle and wellness domains.

Stable, gradual recovery

  • 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://www.maybanktrade.com.sg/.




Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-05-05



Read also Maybank's most recent report:
2024-08-06 Venture Corporation - Recovery Not Strong Enough; Downgrade To HOLD.

Price targets by 3 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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