CNERGEN 0246 CNERGENZ BERHAD records RM7.09mil in net earnings in Q3

 CNERGEN 0246 CNERGENZ BERHAD records RM7.09mil in net earnings in Q3 records RM7.09mil in net earnings in Q3

The company registered a net profit of RM20.02 million for the cumulative period, while revenue came in at RM176.26 million.

KUALA LUMPUR: Cnergenz Bhd recorded a net profit of RM7.09 million in the third quarter (Q3) ended September 30, 2022, due to higher revenue recorded in the quarter under review.

The company said this was the third interim financial report announced in compliance with the listing requirements, thus, no comparative figures were available.

Revenue for the quarter came in at RM62.77 million, mainly derived from the provision of integrated solutions for the surface mount technology (SMT) manufacturing line segment, contributing 51.62 per cent to the total revenue.

The revenue was also boosted by the standalone SMT machines and equipment sales, which contributed 44.30 per cent to the total revenue.

The company registered a net profit of RM20.02 million for the cumulative period, while revenue came in at RM176.26 million.

The company noted that the industry size for SMT manufacturing solutions in Malaysia, Vietnam and Thailand, where Cnergenz presently operates, was forecasted to grow at compound annual growth rates of 7.2 per cent, 8.0 per cent and 8.0 per cent, respectively, between the year 2022 and 2024.

It said global and regional electronics and semiconductor industries are embracing smart factory solutions as these corporations aim to achieve higher production yield, minimising human dependency, optimising resource allocation and enhancing cost competitiveness.

"Such requirements and aspirations pose an opportunity for electronics manufacturing solution providers to expand their operations in providing smart factory solutions.

"Cnergenz is positioned well to benefit from the positive outlook of the electronics manufacturing industry in Southeast Asia, particularly Malaysia, Vietnam and Thailand," it said in its Bursa Malaysia filing.

As of September 30, 2022, Cnergenz has secured purchase orders totalling RM61.15 million for its integrated solutions and sale of individual machinery, equipment and tools, which RM39.02 million are expected to be fulfilled by the end of the year this year and the balance of RM22.13 million are expected to be fulfilled by next year.

https://www.nst.com.my/business/2022/11/851833/cnergenz-records-rm709mil-net-earnings-q3