Nanofilm Technologies has reported earnings of $7.74 million for the FY2024 ended Dec 31, 2024, up 147% y-o-y. For 2HFY2024, the company reported a 6.5% y-o-y increase in earnings of $11.5 million.
The group says that it typically enjoys significantly better results in the second half of the year, primarily driven by the Advanced Materials business unit (AMBU) and Nanofabrication business unit (NFBU) exposure to the 3C market.
Earnings per share for FY2024 came in at 1.18 cents per share, up from the 0.48 cents reported in the same period a year ago.
The group’s revenue for FY2024 was $204.3 million, up 15.4% yo-y due to higher revenue in AMBU, NFBU and Sydrogen business unit (SBU). The increase was partially offset by the decrease in revenue from the Industrial Equipment BU (IEBU).
Other operating income was $5.1 million for FY2024, an 18.3% y-o-y decrease due to a decrease in government grants and incentives received from local government, an increase in sundry income of $0.5 million and an exchange gain of $0.7 million for FY2024.
In terms of expenses, research & development and engineering expenses decrease due to higher capitalisation of development costs. Selling and distribution expenses increased due to increase in staff cost to accelerate business development and sales efforts.
Administrative expenses increased due to increase in depreciation and amortization expenses, increase in professional fees and staff related costs. Finance costs also increased due to higher interest expenses from long term bank loans drawn down by company’s subsidiaries in China.
The group’s gross profit margin maintained steady at 37.1%, as the increase in revenue was offset by higher fixed depreciation and amortisation costs.
Net margin improved to 3.8%.
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Cash and cash equivalents stood at $110.2 million as at Dec 31, 2024.
The group has declared a final dividend of 0.33 cents per ordinary share.
Shares in Nanofilm closed 0.5 cents lower or 0.709% down at 70 cents on Feb 25.
