CNERGENZ Posts RM76.58m in Revenue for 2Q22

Sales of integrated solutions and standalone SMT machines and equipment remained steady for the Penang-based CNERGENZ Bhd

CNERGENZ Posts RM76.58m in Revenue for 2Q22

PENANG, Malaysia, Aug 18, 2022 -  - Penang-based CNERGENZ Bhd recorded revenue of RM76.58 million for the second quarter ended 30 June 2022 (2QFY2022) on higher sales of standalone surface mount technology (SMT) machines and provision of integrated solutions due to continued demand from manufacturing activities in the electronics and semiconductor industries (E&S Industries).

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

On a segmental basis, standalone SMT machines and equipment sales contributed 51.03% of the total revenue while provision of integrated solutions contributed 44.85% for the 2QFY2022.

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Meanwhile, the Company's profit before tax (PBT) for the 2QFY2022 had doubled to RM12.35 million as compared to the immediate preceding first quarter ended 31 March 2022 (1QFY2022) PBT of RM4.87 million.

This resulted in the Company recording PAT of RM9.30 million for the 2QFY2022, which represents an increase compared to RM3.64 million recorded in the immediate preceding 1QFY2022.

Revenue Boost

Chief Executive Officer of Cnergenz, Mr. Lye Yhin Choy says, "We continue to see a steady inflow of orders in the recent quarter for our integrated solutions and standalone SMT machines and equipment in the Malaysian, Thai and Vietnamese markets where we operate despite the global headwinds that the technology sector is encountering, attributed to the gradual reopening of economies in these countries which have 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."

On operational front, the company entered into a conditional sale and purchase agreement with the Penang Development Corporation for the acquisition of a parcel of industrial land in Penang.

"Upon completion of the acquisition, we intend to embark on the construction of our new facility by channelling our initial public offering proceeds, which will enable us to scale up our operations, develop and market a wider 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," he says. (ACN Newswire)