Genetec - A baby step

Revving up for Expansion: Genetec Technology's Building Blocks of Growth - CIMB Reiterates Add with TP RM4.20

Genetec A baby step
Publish date: Tue, 28 Feb 2023, 10:17 AM
Start small, dream big, and take those crucial baby steps - they're the key to unlocking success

Just give GENETEC a little more time, and mark my words - we'll witness our Battery Day plans come to glorious fruition!

I encourage fellow investor to visit my blog and gain a deeper understanding of the company and industry. By making an informed decision, you can invest wisely and make the most of your investment.
  1. Genetec has reported record quarterly revenue in the third quarter of FY23, with revenue increasing by 20.5% qoq and 30.5% yoy to RM85m.
  2. However, the EBITDA margins decreased due to forex losses, a less profitable sales mix, and development costs for new battery energy storage system projects.
  3. Despite this, the company's 9MFY23 sales and core net profit rose by 39% and 34% yoy, respectively,
  4. GENETEC recently completed a private placement to fund future expansion. It will use 53% of the proceeds to expand its manufacturing facilities, increasing production capacity by almost 1.5x.
  5. The company also completed the development of its in-house BESS and is preparing to begin a pilot run, which could be a new growth driver from FY24F.
  6. Despite cutting their EPS projections, analysts still project a 23% net profit CAGR from FY22-25F and reiterate their "Add" rating with a lower RM4.20 target price.

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