- NanoFilm expects 2024 revenue and earnings to be higher than 2023, but because 2023 is a low base, 2024 earnings are still likely going to be unexciting. We cut our 2024-26 earnings forecasts for NanoFilm by 32-55%.
- - Read this at SGinvestors.io -
Significant miss in 1H24 results as reported loss took us by surprise.
- NanoFilm Technologies International (SGX:MZH) reported a significant miss in reported earnings where 1H24 recorded a loss of S$4m vs our estimate of S$7m earnings. This was due to the higher-than-expected admin and selling costs, which remain elevated. Previously, we were expecting a more notable decrease of these costs due to NanoFilm’s cost rationalisation efforts.
- - Read this at SGinvestors.io -
AMBU and NFBU delivered growth, offsetting decline in IEBU.
- NanoFilm’s largest segment, AMBU, recorded a 20% y-o-y revenue growth and contributed 86% of revenue in 1H24 due to a 17% growth in the 3C sector, on the back of higher contributions from existing and new customers despite encountering delays in mass production of a few projects to 3Q24.
- The nanofabrication business unit (NFBU) grew 50% y-o-y, largely from the micro lens array project, while the industrial equipment business unit’s (IEBU) revenue declined 56% y-o-y due to a softer market.
Nanofilm expects 2024 revenue & earnings to be higher than 2023.
- Read more at SGinvestors.io.
