- AEM (SGX:AWX) reported 2025 earnings of S$17m (+48% y-o-y) and revenue of S$399m (+5% y-o-y), exceeding our estimates by 113% and 2% respectively. The earnings beat was due to higher-than-expected other income, net finance income and lower-than-expected costs including research & development and selling, general & administrative expenses.
Key segments reported mixed performance.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Revenue guidance for 2026.
- AEM guided for revenue of S$460m-510m for 2026, driven by the AI/high-performance computing (HPC) production ramp-up, with TCS expected to contribute approximately 70% of the group’s overall revenue
Expect strong growth for second AI/HPC customer.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-02-27
Read also UOB's most recent report:
2026-05-15 AEM 1Q26 Earnings Beat - Expect Growth Momentum To Continue; TP Up 176%.
Previous report by UOB:
2026-03-24 AEM - Strategic Partnership With ASE Technology To Gain Foothold In The Taiwan Market.
Price targets by 2 other brokers at AEM Target Prices.
Listing of research reports at AEM Analyst Reports.
Relevant links:
AEM Share Price History,
AEM Announcements,
AEM Dividend Payout Dates & Corporate Actions,
AEM News
