- AEM reported an exceptional 1Q26, with NPAT surging 330% y-o-y to S$14.3m, representing 39% of our FY26E estimate, with net margin of 12.3% improving y-o-y and q-o-q from 9.2% in 4Q25, mainly driven by higher Test Cell Solutions revenue growth and mix.
Outstanding 1Q26, with stronger quarters to come
- - Read this at SGinvestors.io -
- Consequently, net margin improved to 12.3%, rising sharply both q-o-q and from 3.9% a year earlier.
FY26 revenue guidance raised to S$550-600m
- - Read this at SGinvestors.io -
- As 1Q26 represents only 19.4% of the FY26 revenue guidance, we believe this points to a continued ramp‑up in the coming quarters, which should translate into better margins and profitability.
Securing new customers could be the game changer
- Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybanktrade.com.sg/ 2026-05-14
Previous report by Maybank:
2026-03-23 AEM - Strategic Partnership With ASE.
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
