Nanofilm Technologies (MZH) H2 2021 earnings summary

Executive summary

• FY2021 revenue rose 13% to S$247m and PAT increased 8% to S$63m, setting record highs despite macro and supply-chain challenges.

• 2H2021 revenue grew 55% and PAT 145% vs 1H2021; PAT rose 12% YoY to S$44m.

Financial highlights

• FY2021 revenue was S$246.7m vs S$218.3m in FY2020; PAT was S$62.5m vs S$58.1m.

• PAT attributable to equity holders rose 8.0% to S$62.2m from S$57.6m.

• PBT was S$70m; adjusted for S$3m of non-recurring expenses, PBT would have been S$73m.

Outlook and guidance

• FY2022 outlook is positive, with confidence in sustainable growth through commercialisation and wider adoption across existing and new industries.

• Shanghai Plant 2 and new equipment expanded capacity; the additions are expected to support growth across multiple industries.

• Sydrogen is on track for initial revenue from an automotive project in 2H2022.

• R&D is advancing greener composites, engineered optics for VR/AR, and hydrogen fuel-cell technologies and components.