ASTI Holdings (575) H1 2024 earnings summary

Executive summary

• H1 2024 revenue fell 37.5% YoY to S$17.73m as semiconductor market weakness, lower customer orders and an expired customer contract weighed on sales.

• Net loss widened to S$3.475m from S$0.819m in H1 2023; gross margin declined to 10.3% from 22.4%.

Financial highlights

• Gross profit was S$1.823m, down 71.3% YoY; total other expenses were S$5.650m, down 19.2%.

• Loss before tax was S$3.376m versus S$0.376m; loss attributable to owners was S$4.336m versus S$0.231m.

• Cash generated from operations was S$2.141m; cash and cash equivalents ended June at S$21.693m, versus S$20.709m at December 2023.

Outlook and guidance

• Priorities are to stabilise operations through cost containment, a leaner team and stronger focus on core businesses; no numerical outlook was stated.

• No dividend was declared for H1 2024, citing accumulated losses at 30 June 2024.