The group’s profit before tax margin for 1QFY2025 came in at 4.4%.
AEM says that the sequential drop in revenue reflects the pull-in of orders by one of the group’s customers from FY2025 into 2H2024.
The reduction of revenue was counteracted by the group’s success in moving into high volume manufacturing at its major new AI/ High-Performance Compute (HPC) anchor customer.
Its Test Cell Solutions (TCS) segment saw a 46.9% revenue decline q-o-q primarily driven by the pull-in of orders by one of the group’s customers from FY2025 to the 4Q2024 for inventory management purposes.
See also: GuocoLand posts lower FY2025 on allowances in China; plans to pay a higher dividend
Contract Manufacturing, which accounts for 37.7% of the group’s revenue in 1QFY2025, decreased slightly by 2.7% q-o-q.
At the end of March, the group’s net assets were valued at $492.4 million, up $0.1 million from the previous quarter.
The group’s cash and cash equivalents stood at $42.23 million, down 3.5% y-o-y.
See also: Tiong Woon earnings for full year 2025 up 6% y-o-y to $19.2 mil
The group’s revenue guidance for 1HFY2025 is maintained at $155 million to $170 million, despite the uncertainty created by the current tariff situation.
AEM says that it remains confident in its long-term growth prospects and its differentiation in thermal technology, which is a critical enabler for testing AI/HPC devices and chiplet-based advanced packages.
Shares in AEM Holdingsclosed 5 cents higher or 4.31% up at $1.21 on May 13.
