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Frencken’s 1QFY26 PATMI fell 20% y-o-y to S$8m, in line with our estimates. We expected 1H26 to be weaker y-o-y, however, we see a ramp up for both its key semi-conductor customers in 2HFY26E to cover a shortfall in 1QFY26, accompanied by higher margin revenue mix from the semi-con segment and better operating leverage,
Semicon ramp up much stronger in 2H26E
- - Read this at SGinvestors.io -
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We expect strong order growth from the deep ultraviolet (DUV) and extreme ultraviolet (EUV segments), especially in 2027, for new products (NPI) which could add S$50-100m of revenue. There is currently strong demand and we expect 30-40% y-o-y growth in 2H orders from its Asia customer.
- - Read this at SGinvestors.io -
Life science orders likely bottomed and picking up
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The life science revenue segment should have bottomed in 1QFY26 and with new NPIs being ramped up in the subsequent quarters; we expect q-o-q revenue growth from this segment.
Still a stronger FY26E
- 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/ 2026-05-19
Previous report by Maybank:
2026-05-06 Frencken - Slower 1H26, Ramp Up In 2H26.
Price targets by 4 other brokers at Frencken Target Prices.
Listing of research reports at Frencken Analyst Reports.
Relevant links:
Frencken Share Price History,
Frencken Announcements,
Frencken Dividend Payout Dates & Corporate Actions,
Frencken News
