- NanoFilm Technologies (SGX:MZH)'s FY24 earnings below expectations due to weaker-than-expected margins.
- FY24 revenue rose 15% y-o-y to S$204.3mil, primarily driven by the Advanced Materials Business Unit (AMBU).
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- the Nanofabrication Business Unit (NFBU) achieved 12% growth, driven by a higher allocation of its micro-lens array project.
- Industrial Equipment Business Unit (IEBU) revenue fell due to weak customer spending, while Sydrogen saw impressive 166% growth, particularly in China.
Gross margin stable, net margin still affected by cost pressure.
- Gross profit margin in FY24 remained stable at 37.1%, vs 37.0% in FY23, while net margin improved to 3.8%, up from 1.8% in FY23, resulting in net profit more than doubling to S$7.7mil. For 2H24, net profit improved 6.5% y-o-y to S$11.5mil, while revenue grew 17.1% y-o-y to S$121.6mil.
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Expecting higher growth for 3C vs other segments of Advanced Materials Business Unit (AMBU).
Consumer segment is projected to be the primary revenue driver.
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