AEM expects ‘record year’ as H1 profit jumps 180.3% to S$82.8m
Elysia Tan
SEMICONDUCTOR equipment maker AEM posted a net profit increase of 180.3 per cent in the first half of what looks on track to be a “record year”, compared to the year-ago period, as it grew from acquisitions and clinched customer wins, the company said on Friday (Aug 12).
Net profit attributable to owners of the company for the 6 months ended Jun 30, 2022 stood at S$82.8 million, compared with a net profit of S$29.6 million posted in the previous year.
The results translate to earnings per share of 26.78 Singapore cents, against earnings per share of 10.61 Singapore cents in H1 2021.
Revenue was up 181.1 per cent on the year at S$540.5 million, from S$192.3 million previously, delivering the highest half-year revenue in the group’s history, said AEM. It added that the growth was driven by volume ramp-up of new generation “system level testing handlers, burn-in test handlers, related consumables and peripheral tools”, as well as contributions from CEI, which it acquired in March 2021.
The company’s profit before tax in the period was also its highest on record.
The board has proposed an interim dividend of 6.7 Singapore cents per share, “representing a payout of about 25 per cent for H1 2022”.
Shares of AEM closed at S$4.38, down S$0.03 or 0.7 per cent on Friday, before the results were released.
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