Genetec - A baby step

GENETEC Q2 FY24 Briefing

Genetec A baby step
Publish date: Thu, 29 Feb 2024, 08:38 AM
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Give GENETEC the time it deserves, and watch our Battery Day plans flourish!

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  • Revenue Breakdown:

    • EV & ES = 98.7%
    • Others = 1.3%
  • Margin Improvement:

    • Higher QoQ margin due to product mix & operational efficiencies.
  • Order Book:

    • RM270m
  • Customer T

    • Focus in Customer CAPEX expansion 
    • Low-cost Model Q under development, to launch 2025/2026.
    • Very High demand for battery cells. Sole supplier for battery line.
      • Cyber Trucks require more cells vs. sedan.
      • Significant increase in demand for energy storage.
  • Starlink

    • mid to long-term plan, focusing on growing business beyond EV.

    • Set up office in Austin, Texas. No specific budget for capex (pending scope confirmation).

  • BESS

    • Addressable market half a trillion dollars. Est. 1.8TWh in 2030.
    • Malaysia - 800MWh
      • TNB - 400MWh BESS pilot project.
      • Sabah - 400MWh tender 
    • US - 705MWh 


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