QES Group Berhad (“QES”) recently announced its financial results for the second quarter ended 30 June 2023 (“Q2FYE23”) continuing with its growth trajectory as the group reports a steady progress compared to last year’s Q2FYE22 performance.
QES net profit rose 45.5% to RM6.9 million for its Q2FYE23, from RM4.7 million in Q2FYE22. Quarterly revenue climbed 26.0% to RM67.0 million from RM53.1 million a year ago, as all areas grew YoY with Malaysia 8.5%, ASEAN 36.1%, and the rest of the world grew 31.2%.
The group delivered a commendable first half FYE 2023 (“1HFYE2023”) revenue and PATMI performance amounting to RM124.2 million and RM11.6 million respectively.
This marks an increase of 4.0% in revenue and 1.7% in PATMI as compared to the previous year (“1HFYE2022”), facilitated by the contributions from its higher deliveries to Singapore and Philippines.
In tandem with this, the Group recorded a higher profit before tax (“PBT”) of RM16.2 million, an increase of 3.6% as compared to 1HFYE2022.
The group’s cash flow and balance sheet remained solid, with cash and cash equivalents at RM77.8 million. The gross gearing ratio also remained at a healthy 0.26 times.
The group performed strongly in most of its ASEAN regions and showing good potentials globally for its manufacturing division semiconductor equipment.
Overall, the group remains cautiously optimistic on the overall business conditions for the second half of 2023 despite the market sluggishness compared to 2022.
With this uncertain backdrop, the group remains committed to sustaining our long-term pillars of growth strategies which includes strong recurring income, diversified market segment and geographical spread, ensuring the group stays resilient in the coming quarters.
The group remains confident in the long-term growth of the semiconductor industry and will continue to explore and focus on growing this segment through R&D, branding and marketing.
