Aztech Global 1Q26 - UOB Kay Hian 2026-04-29: Strong Start With 54% Yoy Revenue Growth With New Customers Gaining Traction; Upgrade To BUY

• Aztech Global (SGX:8AZ)’s 1Q26 net profit of S$4m (+167% y-o-y) is in line with our expectation, forming 10% of our full-year estimate. Revenue and profit rose due to increased demand for IoT devices and data communication products from existing and new customers.

Maintains healthy net cash position.

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Focusing on manufacturing excellence and broadening customer base.

• Aztech continues to diversify its customer base and prioritise engagement in MedTech and renewable energy segments. In 1Q26, Aztech secured six new project orders and added two new customers in the security and renewable energy segments.
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2025 A transitional year for Aztech.

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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/.

Previous report by UOB:
2025-10-16 Aztech Global - 3Q25 Results In Line; Customer Demand Remains Soft.

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