Last week, both AEM Holdings Ltd. (SGX: AWX) and Nanofilm Technologies International Ltd. (SGX: MGH) released their financial results for the first half of 2024.
While AEM Holdings saw a year on year decrease in revenue, Nanofilm saw an increase in the first half.
AEM Holdings Ltd. (SGX: AWX)
AEM Holdings released its financial results for the first half of 2024 (1H 2024) last week.
The company reported a revenue of S$173.6 million, a significant decrease compared to 1H 2023, and a profit-before-tax (excluding exceptional items) of S$5.6 million.
Earnings per share for the period fell to S$0.0029 from S$0.0637 a year earlier.
In the last three months, the company’s share price went from a high of S$2.01 to close at S$1.21 on 20 August.
In a strategic move to bolster its leadership, AEM has appointed Amy Leong as its new CEO. Ms. Leong brings a wealth of industry experience to the role and is expected to drive the company’s growth trajectory.
Looking ahead, AEM forecasts 2H 2024 revenue in the range of S$160 million to S$180 million.
The company remains optimistic about its long-term prospects, supported by a strong balance sheet with total equity of S$478.2 million as of 30 June 2024.
Nanofilm Technologies International Ltd (SGX: MGH)
Nanofilm Technologies reported a positive performance for 1H 2024.
The company’s revenue surged 13% year-on-year to S$82.6 million, driven primarily by its Advanced Materials Business Unit (AMBU). This segment witnessed a robust 19.9% year on year growth, reaching S$71.1 million in revenue.
Despite challenges faced by the Industrial Equipment Business Unit, Nanofilm managed to narrow its net loss by a significant 51.1% to S$3.7 million. This improvement can be attributed to cost-cutting measures and operational efficiencies.
The company’s financial health has strengthened, with positive operating cash flow and a proposed interim dividend of S$0.0033 per share.
Looking ahead, the company remains optimistic about its full-year performance, anticipating increased revenue and improved profitability.
Expanding its customer base, particularly in the 3C sector, and ongoing focus on operational efficiency will be key growth drivers.
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