AEM Holdings

[behappyalways]

AEM to acquire French automated test equipment firm for $11 mil
https://www.theedgesingapore.com/capita ... irm-11-mil

[winston]

not vested

Add - on track for a record year

AEM provided its 1Q20 update yesterday with record sales/net profit of S$147m/S$36m.

The company maintained FY20 revenue guidance at S$360m-380m. We think probability of upward revision is high as we go into the year.

Reiterate Add with higher TP on lowered operating expenses assumptions.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... C9EAC33991

[winston]

not vested

What’s New
Record-high 1Q20; net profit surges 448% to S$36.1m
Cloud computing to drive demand for server chips
Key customer intends to add 20% to capacity in FY20
Downgrade to HOLD; limited upside to revised TP of S$2.47

Source: DBS

https://researchwise.dbsvresearch.com/R ... =fdfjjkhab

[behappyalways]

AEM books 'best quarter on record' as earnings surge 449% to $43.8 mil
https://www.theedgesingapore.com/capita ... 49-438-mil

[winston]

not vested

AEM Holdings, which provides advanced chip testing solutions, on Wednesday said it is revising its FY2020 revenue guidance upwards to be between S$430 million and S$445 million, while its capital expenditure is said to remain at about S$4 million.

This comes as it had on May 4 received sales orders worth S$416 million for delivery for its financial year ending Dec 31, 2020.

Source: Phillips

[winston]

not vested

HOLD
Last Traded Price ( 6 May 2020): S$2.58 (STI : 2,591.60)
Price Target 12-mth: S$2.87 (11% upside) (Prev S$2.47)

What’s New
Higher FY2020F sales guidance of S$430-445m
Orders on hand of S$416m for delivery in FY2020F
Potential upward revision in sales guidance; but we choose to remain cautious
Maintain HOLD with a higher TP of S$2.87

Source: DBS

https://researchwise.dbsvresearch.com/R ... =fdiaakhea

[winston]

not vested

Singapore’s hottest stock is set to continue its winning streak

by Ishika Mookerjee

Concentration risk, however, remains a concern for a company, that relies on Intel for more than 90% of its revenue.

Bloomberg

https://www.theedgemarkets.com/article/ ... ing-streak

[behappyalways]

AEM Holdings 1H20 earnings surge 149.9% to $55.3 mil
https://www.theedgesingapore.com/capita ... 99-553-mil

[winston]

not vested

AEM Holdings 1H20 earnings surge 149.9% to $55.3 mil

by Felicia Tan

AEM Holdings has reported a 149.9% surge in its 1H20 earnings to $55.3 million from the $22.3 million registered in 1H19, due to higher revenue, favourable product mix, and operational cost efficiency.

Earnings per share (EPS) for the half-year came in at 20.15 cents, from the 8.25 cents in the same period the year before.

Fully diluted EPS, after provision for preference dividends, came in at 20.13 cents for the half-year, compared to the 8.18 cents a year ago.

Revenue grew 81.7% y-o-y to $273.7 million due to increased sales in all business segments, and higher number of sales to new customers.

Net profit grew 147.9% y-o-y to $55.3 million, while net profit margin rose 5.4 percentage points to 20.2%.

Raw materials and consumables cost rose 74.7% y-o-y to $166.4 million in 1H20 mainly due to the increase in cost for raw materials and consumables. The positive difference between revenue and cost was primarily due to the favourable change in product mix.

Staff costs increased 65.9% y-o-y mainly due to the higher headcount for Research and Development (R&D), business development and engineering projects as well as from the acquisition of Mu-TEST.

As at end June, cash and cash equivalents stood at $139.7 million, a 28.1% increase y-o-y.
AEM Holdings has proposed an interim dividend of 5.0 cents per share, representing a payout of 25% for the half-year period.

Source: The Edge

https://www.theedgesingapore.com/capita ... 99-553-mil

[behappyalways]

AEM offers to buy CEI at $1.15 per share
https://www.theedgesingapore.com/news/m ... -115-share