- AEM reported 3Q24 revenue of S$74.2mil (-6.5% q-o-q, -33.6% y-o-y), accounting for 21% of our full-year estimates, in line, as we are expecting a stronger fourth quarter.
- Test cell solutions (TCS), which makes up 46.7% of 3Q24 group revenue, declined 16.6% q-o-q owing to lower engineering services for the key customer, while contract manufacturing, which accounts for 50.8% of group revenue, grew 5.3% q-o-q on improving inventory conditions within the industrial market.
3Q24 revenue in line with our estimates, while earnings took a hit due to exceptionals and lower operating leverage.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- Regarding the balance sheet, cash declined by 40.4% q-o-q to S$47mil to support new product ramp-up, likely for new customers.
4Q24 set for a strong finish to the year.
2H24 revenue guidance revised upward by 18% due to a pull in of revenue under non-cancellable POs by key customer.
- Read more at SGinvestors.io.
