Avi-Tech Holdings (1R6) H2 2024 earnings summary

Executive summary

• FY2024 remained profitable despite lower revenue across all segments; operating cash flow was S$8.2 million and year-end cash was S$37.0 million.

• Proposed final dividend of 0.75 cents per share, representing a S$1.3 million payout.

Financial highlights

• Revenue fell 28.1% YoY to S$25.1 million; gross profit declined to S$6.5 million from S$8.0 million.

• Profit for the year was S$2.8 million versus S$3.3 million; profit before income tax was S$3.4 million versus S$4.1 million.

• Gross margin rose to 25.9% from 22.9%, supported largely by Engineering Services performance.

Outlook and guidance

• Challenging operating conditions are expected to persist amid uncertain macroeconomic conditions, slow inflation relief, and economic difficulties in China.

• Priorities include strengthening core competencies, prudent financial management, improved operational efficiency, and pursuing growth through M&A and partnerships.