- Positive quarterly trend in revenue and net profit despite an overall y-o-y decline - UMS' revenue resumed quarterly growth from 1Q24, with 4Q24 revenue down 9% y-o-y to S$67.2mil but up 4% sequentially.
- - Read this at SGinvestors.io -
- 4Q24 net profit fell 29% y-o-y but rose 6.8% sequentially to S$11.1mil, boosted by higher exchange gains and gains on fixed asset disposals.
FY24 results in line.
- UMS's FY24 revenue declined 19% y-o-y to S$242.1mil, with the semiconductor segment down 21%. Within the semiconductor segment, integrated system sales fell 33% y-o-y to S$94.4mil, while component sales decreased 8% to S$110.2mil.
- - Read this at SGinvestors.io -
- Depreciation expenses increased 10%, mainly due to fixed asset additions. Other expenses also rose 3% y-o-y as a result of higher professional fees for the group's secondary listing in Malaysia, as well as higher property and machinery maintenance costs.
- Overall, both UMS's FY24 revenue and net profit met our expectations.
- A final dividend of 2 cents per share was declared, resulting in a full-year UMS's dividends of 5.2 cents (compared to 5.6 cents in FY23), representing a 91% payout ratio.
Expecting significant ramp-up in production and NPIs for its new customer.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Lee Keng Ling DBS Group Research | https://www.dbs.com/insightsdirect/ 2025-03-04
Previous report by DBS:
2024-11-11 UMS Integration - 3Q24 Results Inline; Expecting Higher Contribution From New Customer.
Price targets by 2 other brokers at UMS Target Prices.
Listing of research reports at UMS Analyst Reports.
Relevant links:
UMS Share Price History,
UMS Announcements,
UMS Dividend Payout Dates & Corporate Actions,
UMS News
