AEM Holdings Ltd
AWX.SI : Singapore Exchange
1.710
-0.58%
Share Price in SGD. As of 26 Jul 17:04:42 SGT
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Key stats
- 52-Week HighSGD 3.881
- 52-Week LowSGD 1.690
- Market CapSGD 535M
- Avg Volume2.1M
- P/E Ratio (TTM)-
- Forward Dividend Yield5.5%
Share Price Performance
| AWX.SI | Market
| |
|---|---|---|
| 1 Day | 0.00% | 0.24% |
| 5 Day | -2.29% | -0.31% |
| 1 Month | -8.06% | 2.84% |
| 6 Month | -38.32% | 8.45% |
| YTD | -50.37% | 6.08% |
| 1 Year | -49.79% | 6.50% |
| 5 Year | 52.84% | 9.82% |
Market Analysis
Consensus Share Price Target
Price Target: $1.885
Source: SGX as of 27 Jul 2024
Analyst Ratings
CGSI Research
01 Mar 2024
Hold
(prev Buy)
2.320
(prev 3.760)
DBS Research
01 Mar 2024
Hold
2.260
(prev 3.000)
Maybank Research
01 Mar 2024
Hold
2.130
(prev 3.260)
UOB Kay Hian
17 Jan 2024
Hold
(prev Buy)
3.060
(prev 3.630)
Analyst Reports
Valuation
Price to earnings (P/E) ratio
7.8
9.9
AEM Holdings Ltd's current P/E ratio of 7.8x is lower than its historical average P/E ratio of 9.9x.
Price to book (P/B) ratio
1.1
3.2
AEM Holdings Ltd's current P/B ratio of 1.1x is lower than its historical average P/B ratio of 3.2x.
Earnings
Earnings Highlights
1Q 2024 Results Summary
Revenue: SGD 94.20M
Decreased 38% Year-on-Year
The Group achieved revenue of S$94.2 million in 1Q2024, with PBT of S$2.7 million, which includes a restructuring charge of S$2.1 million, as a result of a re-organisation the Group undertook in 1Q2024. Quarter-on-quarter revenue remained flat, due primarily to the slower than expected recovery at the Group's key customer, combined with a build-up of inventory in the life science and industrial sectors which has adversely impacted AEM's contract manufacturing revenue for the quarter.
Net Profit: SGD 2.3M
Decreased 85% Year-on-Year
For the quarter, the Group remained profitable as its focus on driving operational efficiency and implementing tight cost control measures yielded positive results and is preparing the Group to take advantage of the upcoming ramps that are expected when the industry fully recovers.
Return on Equity (ROE): 2%
Debt to Equity Ratio: 30%
The Group's balance sheet remains strong, with total equity of S$477.7 million as of 31 March 2024. NAV per share increased marginally to 152 cents, and the capital structure remains sound with a debt-to-equity ratio at 0.3x.
Outlook
Overall, the semiconductor test industry is still experiencing the strain of overcapacity and end market demand uncertainty. The recovery experienced thus far has been uneven across end markets. Demand for AI accelerators, and related High Bandwidth Memory (HBM) is booming, and has accounted for a significant amount of the revenue growth in the semiconductor industry. Despite this, the volumes being driven by the AI boom are low in comparison to the overall HPC market. PC shipments, according to Canalys, have just returned to a 3% growth in 1Q 2024, after a long streak of negative growth caused by excess inventories. Furthermore, the business conditions for other end markets, including mobility, automotive, and industrials, remain challenging. Given that the visibility into the second half of the year remains limited, we expect any uptick in growth to occur only in 2025. So while the pace of the rebound is expected to be gradual and measured, the future years looks promising with the proliferation of AI capabilities at the edge.
Sources: AEM Holdings Ltd Financial Report
Earnings per share (EPS)
The latest earnings per share is $0.00, which is lower than the earnings per share of $0.41 in 2022.
Financials
Financial Statements
| 29 Feb 2024 | For period ending 31 Dec 2023 |
| 11 Aug 2023 | For period ending 30 Jun 2023 |
Annual Reports
| 08 Apr 2024 | For period ending 31 Dec 2023 |
| 08 Apr 2024 | For period ending 31 Dec 2023 |
News
Profile
Company Description
AEM is a global leader in test innovation. We provide the most comprehensive semiconductor and electronics test solutions based on the best-in-class technologies, processes, and customer support. AEM has a global presence across Asia, Europe, and the Americas. Our R&D centers are crucial in innovating and advancing our in-house engineering capabilities to deliver technologies and solutions for the next generation of semiconductor testing needs. AEM's R&D centers are situated in Singapore, Malaysia, Finland, France, and the US. With manufacturing plants located in Singapore, Malaysia (Penang), Indonesia (Batam), Vietnam (Ho Chi Minh City), and Finland (Lieto), and a global network of engineering support, sales offices, associates, and distributors, we offer our customers a robust and resilient ecosystem of test innovation and support. AEM Holdings Ltd. is listed on the main board of the Singapore Exchange. AEM's head office is in Singapore.