- Aztech’s 3Q24 revenue fell 41% to S$166.7m and 13.7m, down 41.2% and 55.7% y-o-y was significantly below ours and consensus estimates mainly due to a drop in order volume received from its key customer in the US. They also expect 4Q24 to likely be slower than 3Q24.
- - Read this at SGinvestors.io -
Key risk activated – key customer orders tanked
- Aztech's 3Q24 revenue decline of 41.2% y-o-y was mainly due to lower orders from its key customer in the US which makes up more than 80% of its revenue. We understand that demand has weakened for its customer which has resulted in the lower orders which Aztech has received.
- - Read this at SGinvestors.io -
- Aztech's management also expected 4Q24 to be slower and FY25 to remain flattish.
Dividends likely to be lowered but still attractive
- 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/.
Jarick Seet Maybank Research | https://www.maybank.com/ 2024-11-01
Previous report by Maybank:
2024-07-31 Aztech Global - Attractive Yield Of 9.8%.
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
