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AEM Q2 net profit up 15.6% to S$9.5m

AEM Holdings' net profit rose 15.6 per cent to S$9.5 million for the second quarter ended June 30, up from S$8.2 million in the year-ago period, the semiconductor equipment maker announced on Monday after the market closed.

This was on the back of a 16.5 per cent rise in revenue to S$72.7 million from S$62.3 million. Earnings per share for the second quarter were 3.49 Singapore cents, up from 3.16 Singapore cents for Q2 2017.

For the first half of 2018, AEM's net profit was up 43.4 per cent year-on-year to S$17.7 million. Revenue rose 32.4 per cent to S$138.3 million due to growing sales orders from AEM's major customer. AEM also saw better profit margins with its major cost component of raw materials and other consumables rising more slowly than sales growth, due mainly to cost reduction initiatives.

In light of its first half performance, the group has declared an interim dividend of 1.5 Singapore cents per share.

To date, the group has received sales orders worth S$235 million for delivery in FY 2018. The group said it remains on track to achieve its profit guidance for FY 2018 with revenue of at least S$255 million and operating profit before tax of at least S$42 million.

Said executive chairman Loke Wai San: “We continue to generate positive cash flow and remain optimistic of the long-term prospects of our equipment and consumables. Our acquisitions are all progressing well with new customer engagements, and we are cautiously optimistic on securing several key customers in 2019.”

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