External broker reports(aggregated public sources), UOB Kay Hian

UOB Kay Hian

External broker reports(aggregated public sources)

Backed by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, we are supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. Our global footprint and strong international presence have enabled us to feel the pulse of key financial markets and deliver incisive intelligence across industry sectors and asset classes. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Civmec’s 3QFY23 (Jan to Mar 2023) earnings of A$15m (+20% y-o-y) is in line. 9MFY23 formed 77% of our full-year estimate. 3QFY23 net margin grew 1.5ppt y-o-y.</li><li>The strong improvement in net margin was driven by delivery of higher-return projects. Civmec continues to see strong tendering activity across all sectors.</li><li>Civmec (SGX:P9D)’s 3QFY23 earnings of A$15m (+20% y-o-y) is in line, with 9MFY23 accounting for 77% of our full-year estimate. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Civmec’s 3QFY23 (Jan to Mar 2023) earnings of A$15m (+20% y-o-y) is in line. 9MFY23 formed 77% of our full-year estimate. 3QFY23 net margin grew 1.5ppt y-o-y.The strong improvement in net margin was driven by delivery of higher-return projects. Civmec continues to see strong tendering activity across all sectors.Civmec (SGX:P9D)’s 3QFY23 earnings of A$15m (+20% y-o-y) is in line, with 9MFY23 accounting for 77% of our full-year estimate. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Civmec - Robust Earnings Growth Of 20%; Laggard Vs Singapore O&G Peers

Singapore

Civmec Ltd. is an integrated multi-disciplinary construction and heavy engineering services provider to the oil and gas, mining and other industries, such as the infrastructure, utilities, chemical and power industries. The Company provides heavy engineering and other services including fabrication, site civil works, pre-cast concrete and maintenance services.

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Civmec Ltd (CVL SP)

Civmec - Robust Earnings Growth Of 20%; Laggard Vs Singapore O&G Peers

Civmec’s 3QFY23 (Jan to Mar 2023) earnings of A$15m (+20% y-o-y) is in line. 9MFY23 formed 77% of our full-year estimate. 3QFY23 net margin grew...

UOB Kay Hian

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