AEM Holdings has reported a net profit of $4.02 million for the 9MFY2025 ended Sept 30, a reversal from a net loss in the previous year.
Revenue for the nine months ended Sept came in 16% y-o-y higher at $287.5 million, and profit before tax surged 592.2% y-o-y to $6.2 million. PBT margin therefore came in at 2.2% up 1.8 percentage points y-o-y.
The increase in revenue was driven primarily by the ramp into high-volume manufacturing at its major AI / HPC customer, along with the pull-in of orders related to its non-cancellable, long-dated purchase order program with one of the group’s customers in both 1HFY2025 and 3QFY2025.
This enhanced profitability was primarily attributed to a more favorable product mix, reflecting higher contributions from advanced test solutions.
By segment, the group’s test cell solutions segment delivered revenue of $182.2 million, accounting for 63.4% of the group’s total revenue, up 35.5% y-o-y.
The increase was underpinned by the production deployment and customer acceptance of its highly parallel package test solutions, featuring its proprietary PiXLTM thermal technology, which delivers increased test coverage and high-throughput for power-dense AI devices.
The group’s contract manufacturing segment contributed revenue of $99.5 million, or 34.6%
of its total revenue. Revenue in this segment declined by 7.9% y-o-y, primarily due to softer end-customer demand amid the ongoing global trade uncertainties.
As at Sept 30, AEM’s total equity amounted to $485.6 million, reflecting a 0.5% increase from the previous quarter.
Inventories declined by 8.7% during the period, driven by the fulfilment of orders pulled in under a non-cancellable, long-dated purchase agreement with a key customer.
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Cash and cash equivalents decreased slightly to $59.3 million. The debt-to-equity ratio remained stable at a prudent 0.2x.
AEM Holdings reaffirms its revenue guidance for the second half of 2025, with performance expected to reach the upper end of the guidance range ($170 million to $190 million).
It says that demand from its major AI / HPC customer remains robust, and based on current visibility, its revenue contribution is anticipated to grow significantly in FY2026 as compared to FY2025.
Shares in AEM Holdings closed 1 cent higher or 0.559% up at $1.80 on Nov 12.
