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 CNERGEN 0246 CNERGENZ BERHAD posted revenue of RM36.9mil for Q1

CNERGENZ Bhd chief executive officer Lye Yhin Choy said manufacturing activities remained robust in Q1 FY22, leading to the continued demand for the company's integrated solutions in the electronics and semiconductor industries.

KUALA LUMPUR: Penang-based electronics manufacturing solutions provider CNERGENZ Bhd posted revenue of RM36.9 million for the first quarter (Q1) ended 31 March 2022 (FY22).

This positive earnings were primarily contributed by the sales of standalone surface mount technology (SMT) machines and equipment, constituting 60.9 per cent of its total revenue.

In addition, sales generated from the provision of the integrated solutions segment contributed 31.2 per cent to the total revenue.

Furthermore, the company achieved a net profit of RM3.64 million for the quarter.

After excluding one-off expenses relating to the initial public offering amounting to RM0.16 million incurred during the period, the company's net profit stood at RM3.80 million.

Chief executive officer Lye Yhin Choy said manufacturing activities remained robust in Q1 FY22, leading to the continued demand for the company's integrated solutions in the electronics and semiconductor (E&S) industries.

"We have also seen a rise in demand for smart factory solutions as customers look to automation to solve manpower woes," he said in a recent statement.

"We will continue with our plans that we have shared in the run-up to our listing, including the expansion of our facility to enable us to scale up our operations, as well as strengthening our research and development (R&D) activities to develop new and innovative integrated systems and solutions for the market.

"To date, we have secured purchase orders totalling RM82.48 million, which we expect to fulfil by the end of 2022," he said.

https://www.nst.com.my/business/2022/05/800312/cnergenz-posted-revenue-rm369mil-q1

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