- UMS (SGX:558) reported 2Q24 revenue of S$56.0mil. The semiconductor segment, which accounts for 84% of the total, experienced a 29% y-o-y decline in sales due to weakened global chip demand, below expectations.
- - Read this at SGinvestors.io -
- The Aerospace segment continued its positive trajectory, showing a 5% increase driven by the ongoing recovery of the aerospace industry.
2Q24 revenue declined 25% y-o-y, but improved 3.6% q-o-q.
- On a sequential basis, total revenue was up 3.6% q-o-q on the back of higher sales across all its core business segments, including semiconductor and aerospace divisions. The semiconductor segment edged up 1%, driven mainly by higher component sales due to increased orders from its new major customer in Malaysia.
- - Read this at SGinvestors.io -
- Geographically, Malaysia is the only region that saw an improvement in sales vs last year, mainly due to higher component sales to its new customer.
Net margin of 16.7% for 2Q24 slightly weaker than 1Q24 despite gross margin improvement.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Lee Keng LING DBS Group Research | https://www.dbs.com/insightsdirect/ 2024-08-14
Previous report by DBS:
2024-05-14 UMS - Short-term Hiccups.
Price targets by 2 other brokers at UMS Target Prices.
Listing of research reports at UMS Analyst Reports.
Relevant links:
UMS Share Price History,
UMS Announcements,
UMS Dividends & Corporate Actions,
UMS News Articles
