CNERGEN 0246 CNERGENZ BERHAD posts RM76.58mil in revenue for Q2

 CNERGEN 0246 CNERGENZ BERHAD posts RM76.58mil in revenue for Q2

Cnergenz Bhd chief executive officer Lye Yhin Choy said the company continued to see a steady inflow of orders for its integrated solutions and standalone SMT machines and equipment in the recent quarter.

KUALA LUMPUR: Cnergenz Bhd posted revenue of RM76.58 million for the second quarter (Q2) ended 30 June 2022 (FY22) on higher sales of standalone surface mount technology (SMT) machines and the provision of integrated solutions due to continued demand from manufacturing activities in the electronics and semiconductor (E&S) industries.

Net profit rose to RM9.30 million for the Q2 FY22, representing an increase from RM3.64 million recorded in the first quarter (Q1) FY22.

On a cumulative basis, the company recorded revenue of RM113.48 million and a net profit of RM12.94 million for the 6-month period that ended 30 June 2022.

On a segmental basis, standalone SMT machines and equipment sales contributed 51.03 per cent of the total revenue, while providing integrated solutions contributed 44.85 per cent for the Q2 FY22.

Profit before tax for the Q2 FY22 doubled to RM12.35 million compared to RM4.87 million posted in Q1 FY22.

Chief executive officer Lye Yhin Choy said the company continued to see a steady inflow of orders for its integrated solutions and standalone SMT machines and equipment in the recent quarter.

"We see demand in the Malaysia, Thailand, and Vietnamese markets where we operate despite the global headwinds the technology sector is encountering.

"This is attributed to the gradual reopening of economies in these countries, which has contributed to increased sales and new enquiries for our products and solutions.

"We believe that the inflow of orders will continue to grow following the recent global uptick in sales of semiconductors, particularly during the second quarter of 2022, coupled with the continued demand for our solutions and products amongst industry players within the E&S industries," he said in a statement today.

On the operational front, Lye said the company has entered into a conditional sale and purchase agreement with the Penang Development Corporation to acquire a parcel of industrial land in Penang.

"Upon completion of the acquisition, we intend to construct our new facility by channelling our initial public offering proceeds, enabling us to scale up our operations and develop and market a broader range of smart manufacturing solution offerings.

"As of 30 June 2022, we have secured purchase orders totalling RM72.60 million, out of which RM61.16 million are expected to be fulfilled by the end of 2022, and RM11.44 million are expected to be fulfilled by the end of 2023," Lye said.

https://www.nst.com.my/business/2022/08/823223/cnergenz-posts-rm7658mil-revenue-q2