- We stay positive on Venture Corp (SGX:V03) on its recovery into FY25 despite 3Q24 net profit trailing our estimates. 3Q24 was affected by soft customer demand, which delays our recovery expectations and build-up of customer orders to happen from 2H24 into FY25.
- - Read this at SGinvestors.io -
3Q24 slightly below.
- Venture Corp's 3Q24 revenue was S$690m (-4% q-o-q, -2% y-o-y) while net profit came in at S$61m (-5% q-o-q, -4% y-o-y), slightly below expectations.
- Both revenue and earnings were dragged by soft demand from the life science, lifestyle consumer and test & measurement instrumentation domains, offset by better networking & communications and semiconductor-related equipment domains. Net margin was largely in line at 8.8%.
- - Read this at SGinvestors.io -
- Venture Corp's net cash remains unchanged at S$1.2bn from 2Q24 (+33% y-o-y).
Lower FY24F-26F earnings by 11%, 7%, 7%.
- Read more at SGinvestors.io.
Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2024-11-11
Previous report by RHB:
2024-08-07 Venture Corporation - Recovery Into FY25 On Track; Keep BUY.
Price targets by 3 other brokers at Venture Corp Target Prices.
Listing of research reports at Venture Corp Analyst Reports.
Relevant links:
Venture Corp Share Price History,
Venture Corp Announcements,
Venture Corp Dividends & Corporate Actions,
Venture Corp News Articles
