- Dyna-Mac (SGX:NO4) has expanded its yard capacity significantly in 2023, which will be a positive for top line growth. We think there remains great potential for Dyna-Mac to grow inorganically in a manner that is accretive to earnings in the near future, backed by its healthy net cash position.
Positive profit guidance drives upward earnings revision
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Growth momentum in current upcycle well supported by expanded fabrication capacity
- To recap, Dyna-Mac expects to report a significantly higher net profit y-o-y for 1H24, on the back of higher revenue (due to completion of major projects) and productivity improvements. This is well supported by steady order win momentum and yard capacity expansion.
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Adjustment to forecasts
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