In FY2021, the segment advanced 39.5% to $597 million, or 95.6% of total revenue, buoyed by the core markets of North America and Europe which contributed over 96% of total revenue compared with 95% a year ago, the company says.
In a statement, Aztech said its balance sheet remained healthy with cash and bank balances of $201.5 million, while total borrowings more than halved to $14.7 million, leading to a strong net cash of $186.8 million as at Dec 31. This includes the net proceeds of $188.6 million raised from the IPO exercise in March 2021, and after deducting net cash dividend payment of $15.3 million in June 2021.
Net current asset also expanded from $18.0 million as at 31 December 2020 to $271.3 million as at 31 December 2021. As at Dec 31, NAV per share stood at 38.0 cents. A final dividend of 5 cents has been proposed.
Aztech says it is focused on five key areas to support future growth. These are: 1) Grow new IoT customers and products to enhance growth resiliency and widen our portfolio of high-quality customers; 2) Deepen manufacturing, technology and IoT expertise to drive innovation and growth in anticipation of new demands; 3) Excellent business execution capability to optimise factors of production and output; 4) Integrate sustainability into business model & strategic formulation to future-proof business resiliency; and 5) Discipline balance sheet and cost management to ensure adequacy of financial resources for operational and expansion needs.
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As at Dec 31, the orderbook stood at $495.8 million. The company has since received additional orders of $266.2 million as at Feb 22 bringing the total order book to $762 million for FY2022.
