Aztech Global - UOB Kay Hian 2024-10-30: 3Q24 Misses Expectations; Outlook Appears Unexciting

• 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 an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-02-26 Aztech Global - 2024 Results Slightly Below Expectations; Outlook Remains Uncertain.

Price targets by 3 other brokers at Aztech Target Prices.

Listing of research reports at Aztech Analyst Reports.

Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividend Payout Dates & Corporate Actions,
Aztech News