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AEM 3Q21 net profit up 4.3%, raises FY21 revenue guidance

Jovi Ho
Jovi Ho • 2 min read
AEM 3Q21 net profit up 4.3%, raises FY21 revenue guidance
The Group has raised FY2021 revenue guidance to between $525 million and $550 million.
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AEM recorded revenue of $146.2 million in 3QFY2021 ended September, up 9.7% y-o-y from $112.0 million in 2QFY2021, on the back of volume ramp for next generation handlers.

The Group has raised FY2021 revenue guidance to between $525 million and $550 million.

On a sequential basis, profit before tax (PBT) grew 7% y-o-y to $27.8 million in 3Q2021.

Meanwhile, net profit for the quarter was $23.3 million, up 4.3% y-o-y.


See: With strong growth momentum, AEM 'graduates' from Centurion to Billion Dollar Club

See also: AEM raising $103.1 million via placement to Temasek at $3.8477 per share

See also: Chasen Holdings reports FY2024 net loss of $6.57 million; clinches $34.2 mil in new projects

"The growth in top and bottom lines were driven by the volume ramp for our next generation System Level Testing handlers and peripheral tools. The Group expects the ramp to continue through 4QFY2021 and into FY2022," says AEM in a press release on Nov 10.

Cash and cash equivalents increased from $134.8 million as at Dec 31, 2020 to $204.1 million as at Sept 30.

Total assets also increased by 90.9% to $640.5 million over the same period.

See also: IHH Healthcare reports record quarterly revenue in 1QFY2024; patmi down 45% y-o-y on absence of one-off gains

See also: UMS, Frencken, AEM and Venture Corp are Maybank Kim Eng's top semiconductor picks amid chip shortage

Consequently, the net asset value per share increased from 76.7 cents to 119.3 cents.

"The Group remains optimistic about its prospects as semiconductor test content grows and aims to increase its market share globally. The Group is also mindful of the supply chain challenges fuelled by the ongoing Covid-19 pandemic and may experience some delays in shipments in the future, though none are currently expected," says AEM.

For more stories about where the money flows, click here for our Capital section

Shares in AEM closed 2 cents lower, or 0.47% down, at $4.19.

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