Aztech Global - DBS Research 2024-10-30: Weakening Order Momentum

Aztech Global - Weakening Order Momentum

Published:
Aztech (SGX:8AZ) | SGinvestors.io
  • Aztech (SGX:8AZ) reported a 41.2% plunge in 3Q24 revenue to S$166.7mil while net profit tumbled 55.7% y-o-y to S$13.7mil, despite a seasonally strong quarter. On a q-o-q basis, revenue and net profit were down 31.8% and 55.5% respectively.

Disappointing 3Q24, due to weak demand from key customer.

  • - Read this at SGinvestors.io -
  • For the 9-month period, Aztech's net profit declined 18.2% y-o-y to S$60.4mil, on the back of a 19.7% decline in revenue to S$539.9m.
  • Aztech's 9M24 revenue accounted for 58% of our forecast while net profit only made up 52%, way below our and consensus expectations.
  • - Read this at SGinvestors.io -

Strong net cash position.

  • Despite the weak results, Aztech continued to generate strong net cash from operating activities with improved working capital. Net cash from operating activities increased by 83.1% y-o-y to S$89.9mil for 9M24.
  • Net cash position increased by 25.2% y-o-y to S$269.8mil as at 30 Sep 24.

Expanding new product initiatives, exploring M&A opportunities.

  • 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/ 2024-10-30



Previous report by DBS:
2024-07-31 Aztech Global - Healthy Orderbook With Above 10% Net Margin.

Price targets by 2 other brokers at Aztech Target Prices.

Listing of research reports at Aztech Analyst Reports.

Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividends & Corporate Actions,
Aztech News Articles





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