PIE Beat Expectations, Share Target Price Bumped up to RM4.60
PIE Beat Expectations, Share Target Price Bumped up to RM4.60
PIE Industrial Bhd has retained its 'buy' call with a higher 52-target price of RM4.60 at Affin Hwang Investment Bank Bhd (AHIB) as it beat expectations on the back of higher orders, from both old and new customers, in its electronic manufacturing services (EMS) business.
PIE工業有限公司在Affin Hwang投資銀行保持"買入"看漲推薦，目標價爲RM4.60。其電子製造服務(EMS)業務接到來自新老客戶的高定單後，業績超預期。
"We continue to like PIE for its promising earnings growth over the coming years, undemanding valuations against other EMS peers, " AHIB said in a note released today.
"我們繼續看好PIE未來幾年的盈利增長，相對其他EMS同行估值不高。"投資銀行在今天發佈的一份報告中表示。
PIE closed on Friday (Feb 23) at RM3.39, valuing the company at RM1.3 billion. Its 52-week high was RM3.76 and low at RM2.61.
2月23日星期五PIE閉市價爲RM3.39，市值爲13億令吉。其52周最高價爲RM3.76，最低價爲RM2.61。
For the financial year ended Dec 31, 2023 (FY23), PIE posted a net profit of RM75.4 million, up 6% from the year before, on a turnover of RM1.217 billion, up 4% from FY22.
2023財年結束於12月31日，PIE在1.217億令吉的營業收入上實現了7千540萬令吉的淨利潤，同比增長6％。
"Overall, despite a global semiconductor slowdown and excess-inventory correction, the group still managed to post positive earnings growth on the back of higher revenue from new product orders, as well as increased orders from both new and existing customers.
"儘管全球半導體行業增長放緩且庫存修正過多，PIE仍然在新產品訂單收入增加以及來自新舊客戶的增加訂單收入的情況下繼續實現正收益增長。
"Notably, its 4Q23 recorded net profit of RM28 million – representing a jump by +38% qoq. Despite the flattish revenue sequentially, its bottom line was lifted by higher-margin product mix during the quarter," according to the report.
"尤其需要注意的是，它在2023年第4季度的淨利潤爲2千8百萬令吉，環比增長了38％。儘管其收入相對平穩，但其季度底線由於產品利潤率提高而提高。"報告指出。
Through its subsidiaries, PIE has operations in contract manufacturing services, manufactures raw wires and cables, and trades personal computer peripheral products.
PIE通過其子公司從事合同製造服務，生產原始電線和電纜，並交易個人計算機周邊產品。
譯文內容由第三人軟體翻譯。