- Aztech’s 2024 earnings of S$71m (-30% y-o-y) missed our expectations by 2%. Amid rising geopolitical uncertainties, Aztech is facing some demand volatility from customers.
2024 earnings slightly below expectations.
- - Read this at SGinvestors.io -
- The impact of lower revenue and higher depreciation was partly offset by higher interest income, net fair value gain on foreign exchange contracts and lower tax expense with a one-time deferred tax provision of S$7m in the prior year.
No orderbook figures were provided for the first time.
- - Read this at SGinvestors.io -
- To recap, the last orderbook figure given was S$142m as of 1 Oct 24. Since Aztech has booked in S$81m revenue for 4Q24, the orderbook brought forward from last year is roughly S$61m, excluding new order wins in 4Q24 and 1Q25.
- Special and final dividend totalling 10 cents per share proposed, comprising a final ordinary dividend of 3 cents per share totalling S$23m and a special dividend of 7 cents per share totalling S$54m. Including the interim dividend of 5 cents per share, the total ordinary dividend declared for the year is 8 cents per share (2023: 8 cents). The proposed final ordinary and special dividends lift the total Aztech's dividends declared for 2024 to 15 cents per share, an increase of 88% y-o-y which translates to a payout ratio of 164%.
Expect demand volatility.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-02-26
Previous report by UOB:
2024-10-30 Aztech Global - 3Q24 Misses Expectations; Outlook Appears Unexciting.
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
