Nanofilm Technologies H1 loss narrows 51.1% to $3.7 million
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The group has declared an interim dividend of $0.0033 per share, to be paid out on Sep 6.
PHOTO: THE BUSINESS TIMES
Megan Cheah
SINGAPORE - Solutions provider Nanofilm Technologies on Aug 13 announced that its net loss for the six months ended June 30 decreased by 51.1 per cent to $3.7 million, from $7.6 million in the corresponding year-ago period.
This comes as its revenue for the period rose 13 per cent year on year to $82.6 million, from $73.2 million previously. This was attributed to higher contributions from its advanced materials, nanofabrication and Sydrogen business units.
Loss per share narrowed 51.3 per cent to 0.57 cents for the period, from 1.17 cents in the first half of financial year 2023.
The group has declared an interim dividend of 0.33 cents per share, to be paid out on Sept 6. This amount is unchanged from that in the first half of financial year 2023
Among Nanofilm’s business units, advanced materials was the largest revenue contributor, with a revenue of $71.1 million. This was up 19.9 per cent from $59.3 million in the first half of financial year 2023.
Revenue gains were offset by the industrial equipment business unit, which posted a 56 per cent lower revenue of $3.9 million, compared with $8.9 million in the corresponding year-ago period.
The group’s net cash from operating activities amounted to $21 million for the first half of financial year 2024. Its cash and cash equivalents were $134.2 million as at June 30, down from $155.2 million as at Dec 31, 2023.
Nanofilm noted that in the first half of 2024, there were improvements in earnings before interest, taxes, depreciation and amortisation margins across its business units.
“The group typically enjoys significantly better results in the second half of the year, primarily driven by the advanced materials and nanofabrication business units’ exposure to the 3C market,” it added, referring to computer, communication and consumer electronics.
“With the upcoming 3C peak season, barring any unforeseen circumstances, Nanofilm anticipates higher revenue contributions from its 3C business segment. The delayed projects from the first half of 2024 are expected to ramp up in the second half,” it also said.
Shares of Nanofilm rose 7.5 per cent, or 5.5 cents to 78.5 cents on Aug 13, before the announcement. THE BUSINESS TIMES
