- InnoTek (SGX:M14) is a precision manufacturing group headquartered in Singapore and listed on the SGX Mainboard since 1998. The Group primarily operates through its subsidiary, Mansfield Manufacturing Company Limited, which specialises in designing and manufacturing high-precision metal components and assemblies, serving a wide range of industries including automotive, office automation, TV/display, and more recently, GPU servers for AI applications.
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Financial Results
- InnoTek's revenue grew 15.8% y-o-y to S$238.0m in FY2024, with higher contributions from most of the business segments.
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- Net profit attributable to owners of the Company rose 23.4% y-o-y to S$5.8m in 2024, driven by higher other income, improved joint venture contributions, lower finance costs, and a reduced tax expense. Excluding one-off effects, adjusted net profit would have grown by 87.3% y-o-y to S$11.8m in 2024.
- InnoTek remains in a strong net cash position of S$65.1m, representing 77.6% of market cap.
Investment Thesis
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