- Aztech’s 3Q24 earnings slumped 56% y-o-y and q-o-q to S$14m. Revenue dropped 20% y-o-y on poorer customer demand. Orderbook declined to S$142m as at 1 Oct 24 (vs S$304m as at 30 Jul 24), with the majority planned for completion in 2024, signalling a weaker 4Q24.
3Q24 earnings fall short of expectations.
- - Read this at SGinvestors.io -
- Net margin was flat y-o-y due to a one-time deferred tax provision of S$5.5m from 2023.
- - Read this at SGinvestors.io -
Healthy net cash position maintained.
- Aztech continues to strengthen its balance sheet, with healthy operating cash flows of S$90m (+83% y-o-y) and free cash flow of S$87m. As a result, its net cash position increased by a substantial 25% y-o-y to S$269.8m as at end-Sep 24 (around 34% of market cap).
Gloomy outlook ahead.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-10-30
Previous report by UOB:
2024-07-31 Aztech Global - 2Q24 Results In Line; Higher Dividend A Positive Signal.
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
