- Civmec reported flattish 1QFY25 NPAT of AUD15.2m, in line with our expectation at 25% of MIBG’s full-year forecast. As such, we leave our FY25-27E earnings forecasts unchanged.
Better-than-expected topline growth
- - Read this at SGinvestors.io -
- Even though order book continued to decline by 6.2% y-o-y to AUD800m as at end-Sep 2024, Civmec's management said tendering activity remains buoyant across all sectors. This provides ample opportunities to replenish its order book and secure new projects that will enable sustainable revenue growth.
New defence contracts to provide re-rating
- - Read this at SGinvestors.io -
- The transfer (including all assets, employees, and licences) will see Civmec complete the supply of these vessels at both the Osborne South shipyard in South Australia and its facility in Henderson, Western Australia (WA).
Successful re-domicile to Australia
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Eric Ong Maybank Research | https://www.maybank.com/ 2024-10-30
Previous report by Maybank:
2024-08-30 Civmec - Strong Execution; 2HFY24 Results In Line.
Price targets by other brokers at Civmec Target Prices.
Listing of research reports at Civmec Analyst Reports.
Relevant links:
Civmec Share Price History,
Civmec Announcements,
Civmec Dividends & Corporate Actions,
Civmec News Articles
