Aztech Global - DBS Research 2026-02-27: Recovery Takes Shape

• Aztech (SGX:8AZ)'s FY25 revenue declined 30.4% y-o-y to S$432.5mil amid increased competition and softer demand for IoT devices and data-communication products, broadly in line with our expectations.

FY25 revenue and core earnings inline.

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• The company proposed a total dividend of 12 cents per share (including a special dividend), implying a payout ratio above 200%, supported by its strong net cash position. See Aztech's dividends payout dates.

Operational footprint optimisation to enhance utilisation efficiency.

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• Following the restructuring, the Group operates approximately 500,000 sq ft of manufacturing space, comprising a 300,000 sq ft facility in Pasir Gudang, Malaysia, and a 194,000 sq ft plant in Dongguan, China. This streamlined footprint is expected to improve asset utilisation, enhance cost discipline, and support margin resilience as volumes recover.

Strategic priorities and key earnings drivers ahead.

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Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2025-10-15 Aztech Global - 3QFY25 Broadly Inline; Order Rebound In Sight.

Price targets by other brokers at Aztech Target Prices.

Listing of research reports at Aztech Analyst Reports.

Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividend Payout Dates & Corporate Actions,
Aztech News