AEM maintains its 1H25 revenue guidance of S$155-170m and remains confident in its long-term growth prospects but expects 2Q25 earnings to be muted and 2H25 outlook to remain uncertain.
1Q25 revenue in line but earnings weak due to worse-than-expected net margin.
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Both key segments reported weaker revenue y-o-y.
The Test Cell Solutions (TCS) segment successfully deployed its AMPS-BI in volume production, powered by PiXLTM thermal technology, and received customer acceptance. This resulted in revenue for several systems and associated test consumables being recognised in 1Q25, driving a doubling of TCS new customer revenue vs 4Q24. Overall, the TCS segment revenue declined 47% vs 4Q24 primarily due to the pull-in orders by one of AEM’s customers from 2025 into 4Q24 for inventory management purposes.
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1H25 revenue guidance maintained at S$155m-170m.
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