Venture Corporation - Phillip Securities 2024-05-06: Worst Performance Since 2016

Venture Corporation - Worst Performance Since 2016

Venture Corp (SGX:V03) | SGinvestors.ioVenture Corp (SGX:V03)
  • Venture Corp (SGX:V03)'s 1Q24 results were within expectations. Revenue in 1Q24 declined around 19% y-o-y to S$666.7mil, the weakest in eight years or 2016. The weakness was attributed to destocking in the life science, network, and communications segments.
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  • Both revenue and PATMI were 21% of our FY24e forecast. Our FY24e earnings forecast for Venture Corp are unchanged at S$287mil. We expect seasonality in demand to raise earnings sequentially in the coming quarters.
  • Maintain NEUTRAL with an unchanged Venture Corp target price of S$12.75.

The Positive

Cash piling up.

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  • We believe the high cash levels is now the biggest growth driver with increased interest income.

The Negative

Revenue plunging to 8-year lows.

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Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @

Paul Chew Phillip Securities Research | 2024-05-06

Previous report by Phillip:
2024-02-26 Venture Corporation - Recovery Back-loaded.

Price targets by 4 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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