New Risk • May 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (RM191.7m market cap, or US$48.8m). Reported Earnings • May 15
Second quarter 2026 earnings released: RM0.001 loss per share (vs RM0.003 profit in 2Q 2025) Second quarter 2026 results: RM0.001 loss per share (down from RM0.003 profit in 2Q 2025). Revenue: RM22.4m (down 12% from 2Q 2025). Net loss: RM698.0k (down 135% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (RM90.8m market cap, or US$22.9m). Reported Earnings • Feb 28
First quarter 2026 earnings released: EPS: RM0.001 (vs RM0.003 in 1Q 2025) First quarter 2026 results: EPS: RM0.001 (down from RM0.003 in 1Q 2025). Revenue: RM27.3m (up 49% from 1Q 2025). Net income: RM428.0k (down 75% from 1Q 2025). Profit margin: 1.6% (down from 9.2% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 30
Full year 2025 earnings released: EPS: RM0.006 (vs RM0.033 loss in FY 2024) Full year 2025 results: EPS: RM0.006 (up from RM0.033 loss in FY 2024). Revenue: RM83.1m (up 103% from FY 2024). Net income: RM4.04m (up RM25.8m from FY 2024). Profit margin: 4.9% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Announcement • Jan 27
Aemulus Holdings Berhad, Annual General Meeting, Feb 26, 2026 Aemulus Holdings Berhad, Annual General Meeting, Feb 26, 2026, at 10:00 Singapore Standard Time. Location: the walhalla hall, aemulus base, no. 25, jalan sultan azlan shah, zon perindustrian bayan lepas, phase 1, 11900 bayan lepas, pulau pinang, Malaysia New Risk • Nov 21
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). High level of non-cash earnings (27% accrual ratio). Minor Risk Market cap is less than US$100m (RM134.3m market cap, or US$32.4m). Reported Earnings • Nov 21
Full year 2025 earnings released: EPS: RM0.006 (vs RM0.033 loss in FY 2024) Full year 2025 results: EPS: RM0.006 (up from RM0.033 loss in FY 2024). Revenue: RM83.1m (up 103% from FY 2024). Net income: RM4.04m (up RM25.8m from FY 2024). Profit margin: 4.9% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 19
Third quarter 2025 earnings released: EPS: RM0 (vs RM0.004 loss in 3Q 2024) Third quarter 2025 results: EPS: RM0 (improved from RM0.004 loss in 3Q 2024). Revenue: RM19.1m (up 84% from 3Q 2024). Net income: RM24.0k (up RM3.02m from 3Q 2024). Profit margin: 0.1% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. New Risk • May 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -RM10m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RM10m free cash flow). Earnings have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (RM198.1m market cap, or US$47.1m). New Risk • May 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 9.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Market cap is less than US$100m (RM198.1m market cap, or US$46.8m). Reported Earnings • May 16
Second quarter 2025 earnings released: EPS: RM0.006 (vs RM0.003 loss in 2Q 2024) Second quarter 2025 results: EPS: RM0.006 (up from RM0.003 loss in 2Q 2024). Revenue: RM25.4m (up 172% from 2Q 2024). Net income: RM2.01m (up RM4.06m from 2Q 2024). Profit margin: 7.9% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RM19m free cash flow). Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (RM124.2m market cap, or US$27.7m). Reported Earnings • Feb 26
First quarter 2025 earnings released: EPS: RM0.003 (vs RM0.005 loss in 1Q 2024) First quarter 2025 results: EPS: RM0.003 (up from RM0.005 loss in 1Q 2024). Revenue: RM18.3m (up 168% from 1Q 2024). Net income: RM1.69m (up RM5.26m from 1Q 2024). Profit margin: 9.2% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Reported Earnings • Jan 23
Full year 2024 earnings released: RM0.033 loss per share (vs RM0.082 loss in FY 2023) Full year 2024 results: RM0.033 loss per share (improved from RM0.082 loss in FY 2023). Revenue: RM40.9m (up 63% from FY 2023). Net loss: RM21.8m (loss narrowed 60% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • Jan 20
Aemulus Holdings Berhad, Annual General Meeting, Feb 25, 2025 Aemulus Holdings Berhad, Annual General Meeting, Feb 25, 2025, at 10:00 Singapore Standard Time. Location: walhalla hall, aemulus base, no. 25, jalan sultan azlan shah, zon perindustrian bayan lepas, phase 1, 11900, bayan lepas, pulau pinang, Malaysia New Risk • Jan 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RM20m free cash flow). Earnings have declined by 49% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (RM208.3m market cap, or US$46.3m). New Risk • Nov 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -RM20m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RM20m free cash flow). Earnings have declined by 49% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM191.5m market cap, or US$42.9m). Reported Earnings • Nov 22
Full year 2024 earnings released: RM0.033 loss per share (vs RM0.082 loss in FY 2023) Full year 2024 results: RM0.033 loss per share (improved from RM0.082 loss in FY 2023). Revenue: RM40.9m (up 63% from FY 2023). Net loss: RM21.8m (loss narrowed 60% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Sep 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -RM24m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RM24m free cash flow). Earnings have declined by 51% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (RM194.7m market cap, or US$45.0m). Reported Earnings • Aug 28
Third quarter 2024 earnings released: RM0.004 loss per share (vs RM0.01 loss in 3Q 2023) Third quarter 2024 results: RM0.004 loss per share (improved from RM0.01 loss in 3Q 2023). Revenue: RM10.4m (up 168% from 3Q 2023). Net loss: RM2.99m (loss narrowed 57% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. New Risk • Jun 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 47% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-RM24m). Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (RM294.5m market cap, or US$62.6m). New Risk • Jun 06
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -RM24m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 47% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-RM24m). Market cap is less than US$100m (RM237.6m market cap, or US$50.6m). Reported Earnings • May 16
Second quarter 2024 earnings released: RM0.003 loss per share (vs RM0.007 loss in 2Q 2023) Second quarter 2024 results: RM0.003 loss per share (improved from RM0.007 loss in 2Q 2023). Revenue: RM9.32m (up 76% from 2Q 2023). Net loss: RM2.04m (loss narrowed 56% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Reported Earnings • Jan 26
Full year 2023 earnings released: RM0.082 loss per share (vs RM0.02 profit in FY 2022) Full year 2023 results: RM0.082 loss per share (down from RM0.02 profit in FY 2022). Revenue: RM25.1m (down 66% from FY 2022). Net loss: RM54.7m (down RM67.2m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Announcement • Jan 19
Aemulus Holdings Berhad, Annual General Meeting, Feb 20, 2024 Aemulus Holdings Berhad, Annual General Meeting, Feb 20, 2024, at 10:00 Singapore Standard Time. Location: Jadeite Room, Level 4, Amari SPICE Penang, 2, Persiaran Mahsuri, Bayan Baru,11900 Bayan Lepas Pulau Pinang Malaysia Agenda: To consider Receive the Audited Financial Statements for the financial year ended 30 September 2023 together with the Reports of the Directors and Auditors thereon; to consider Approval of payment of Directors' fees for the financial year ending 30 September 2024; to consider Approval of payment of Directors' benefits from 20 February 2024 until the conclusion of the next AGM of the Company; and to transact such other business matters. Reported Earnings • Dec 01
Full year 2023 earnings released: RM0.082 loss per share (vs RM0.02 profit in FY 2022) Full year 2023 results: RM0.082 loss per share (down from RM0.02 profit in FY 2022). Revenue: RM25.1m (down 66% from FY 2022). Net loss: RM54.7m (down RM67.2m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Third quarter 2023 earnings released: RM0.01 loss per share (vs RM0.003 profit in 3Q 2022) Third quarter 2023 results: RM0.01 loss per share (down from RM0.003 profit in 3Q 2022). Revenue: RM3.86m (down 77% from 3Q 2022). Net loss: RM6.90m (down RM8.60m from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Jul 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (RM227.6m market cap, or US$50.3m). Reported Earnings • May 13
Second quarter 2023 earnings released: RM0.007 loss per share (vs RM0.007 profit in 2Q 2022) Second quarter 2023 results: RM0.007 loss per share (down from RM0.007 profit in 2Q 2022). Revenue: RM5.29m (down 73% from 2Q 2022). Net loss: RM4.69m (down 202% from profit in 2Q 2022). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 10
Aemulus Holdings Berhad Appoints Puan Tursina Binti Yaacob, as Independent and Non Executive Director Aemulus Holdings Berhad announced the appointment of Puan Tursina Binti Yaacob, 50, female, as Independent and Non Executive director. Date of change 09 May 2023. is Qualifications: Masters in Business Administration from Universiti Teknologi Malaysia and BA (Hons) Financial Economics from Coventry University, United Kingdom. Working experience and occupation: Puan Tursina began her career as an investment analyst at Mayban Securities Sdn Bhd (now Maybank Investment Bank Berhad) from 1997 to 2005, prior to joining OSK Research Sdn Bhd (now RHB Research) in 2006. In 2007, she joined KFH Research Ltd. as Director. Puan Tursina served Kumpulan Wang Persaraan (Diperbadankan) for a total of ten years in various capacities, as the Head of Research Department in 2012 before rotated as the Head of Human Resources Department in 2020 and Head of Project Management Office - Target Operating Model in the same year. Puan Tursina is a Member of the Investment Committee, Ficus SEA Sdn Bhd. Major Estimate Revision • Feb 14
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from RM67.4m to RM58.0m. EPS estimate fell from RM0.019 to RM0.01 per share. Net income forecast to grow 139% next year vs 19% growth forecast for Semiconductor industry in Malaysia. Consensus price target down from RM0.42 to RM0.38. Share price fell 18% to RM0.38 over the past week. Reported Earnings • Feb 08
First quarter 2023 earnings released: RM0.007 loss per share (vs RM0.007 profit in 1Q 2022) First quarter 2023 results: RM0.007 loss per share (down from RM0.007 profit in 1Q 2022). Revenue: RM9.85m (down 47% from 1Q 2022). Net loss: RM4.77m (down 205% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 08
Full year 2022 earnings released: EPS: RM0.02 (vs RM0.017 in FY 2021) Full year 2022 results: EPS: RM0.02 (up from RM0.017 in FY 2021). Revenue: RM73.0m (up 20% from FY 2021). Net income: RM12.5m (up 20% from FY 2021). Profit margin: 17% (in line with FY 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 17
Full year 2022 earnings released: EPS: RM0.019 (vs RM0.017 in FY 2021) Full year 2022 results: EPS: RM0.019 (up from RM0.017 in FY 2021). Revenue: RM73.0m (up 20% from FY 2021). Net income: RM12.5m (up 20% from FY 2021). Profit margin: 17% (in line with FY 2021). Revenue is forecast to grow 60% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to RM0.76 Down from RM1.34, the current price target is provided by 1 analyst. New target price is 88% above last closing price of RM0.41. Stock is down 63% over the past year. The company posted earnings per share of RM0.017 last year. Reported Earnings • Jul 28
Third quarter 2022 earnings released: EPS: RM0.003 (vs RM0.004 in 3Q 2021) Third quarter 2022 results: EPS: RM0.003 (down from RM0.004 in 3Q 2021). Revenue: RM17.0m (up 4.1% from 3Q 2021). Net income: RM1.70m (down 37% from 3Q 2021). Profit margin: 10.0% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 32%, compared to a 18% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Aemulus Holdings Berhad Announces the Resignation of Yeoh Chee Keong as Chief Operating Officer, Effective 31 July 2022 Aemulus Holdings Berhad announced the resignation of Mr. Yeoh Chee Keong as Chief Operating Officer. Reason Mr. Yeoh Chee Keong resigned as Chief Operating Officer of the Company due to his personal commitments. Date of change is 31 July 2022. Price Target Changed • May 03
Price target decreased to RM1.34 Down from RM1.49, the current price target is an average from 2 analysts. New target price is 103% above last closing price of RM0.66. Stock is down 27% over the past year. The company is forecast to post earnings per share of RM0.032 for next year compared to RM0.017 last year. Announcement • May 02
Aemulus Holdings Berhad Appoints Ch'ng Suat Ping as Independent and Non-Executive Director Aemulus Holdings Berhad announced the appointment of Miss Ch'ng Suat Ping as Independent and Non Executive Director, effective April 28, 2022. Reported Earnings • Apr 30
Second quarter 2022 earnings: Revenues exceed analyst expectations Second quarter 2022 results: Revenue: RM19.2m (up 21% from 2Q 2021). Net income: RM4.61m (up 114% from 2Q 2021). Profit margin: 24% (up from 14% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.0%. Over the next year, revenue is forecast to grow 25%, compared to a 28% growth forecast for the industry in Malaysia. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent & Non-Executive Chairman Kah Lee was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 09
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: RM0.007 (up from RM0.003 in 1Q 2021). Revenue: RM18.6m (up 62% from 1Q 2021). Net income: RM4.53m (up 200% from 1Q 2021). Profit margin: 24% (up from 13% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) missed analyst estimates by 6.5%. Over the next year, revenue is forecast to grow 27%, compared to a 28% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 11
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: RM0.017 (up from RM0.007 loss in FY 2020). Revenue: RM61.1m (up 216% from FY 2020). Net income: RM10.5m (up RM14.1m from FY 2020). Profit margin: 17% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) missed analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates by 6.5%. Over the next year, revenue is forecast to grow 34%, compared to a 28% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 10
Full year 2021 earnings released: EPS RM0.017 (vs RM0.007 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: RM61.1m (up 216% from FY 2020). Net income: RM10.5m (up RM14.1m from FY 2020). Profit margin: 17% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 09
Price target increased to RM1.49 Up from RM1.36, the current price target is an average from 2 analysts. New target price is 33% above last closing price of RM1.12. Stock is up 51% over the past year. The company is forecast to post earnings per share of RM0.018 next year compared to a net loss per share of RM0.0066 last year. Major Estimate Revision • Aug 05
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from RM51.8m to RM58.2m. EPS estimate unchanged from RM0.018 at last update. Semiconductor industry in Malaysia expected to see average net income growth of 48% next year. Consensus price target up from RM1.29 to RM1.36. Share price rose 15% to RM1.18 over the past week. Reported Earnings • May 05
Second quarter 2021 earnings released: EPS RM0.004 (vs RM0.005 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM15.9m (up 493% from 2Q 2020). Net income: RM2.16m (up RM4.90m from 2Q 2020). Profit margin: 14% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 11
First quarter 2021 earnings released: EPS RM0.003 (vs RM0.004 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM11.5m (up 164% from 1Q 2020). Net income: RM1.51m (up RM3.50m from 1Q 2020). Profit margin: 13% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 99% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 05
New 90-day high: RM0.87 The company is up 25% from its price of RM0.69 on 06 November 2020. The Malaysian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 41% over the same period. Is New 90 Day High Low • Jan 08
New 90-day low: RM0.59 The company is down 11% from its price of RM0.67 on 09 October 2020. The Malaysian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 29% over the same period. Reported Earnings • Jan 06
Full year 2020 earnings released: RM0.007 loss per share The company reported a poor full year result with increased losses and weaker revenues and control over expenses. Full year 2020 results: Revenue: RM19.3m (down 33% from FY 2019). Net loss: RM3.61m (loss widened 12% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 104% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Jan 06
Revenue and earnings miss expectations Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 90%, compared to a 33% growth forecast for the Semiconductor industry in Malaysia. Announcement • Dec 25
Aemulus Holdings Berhad, Annual General Meeting, Feb 08, 2021 Aemulus Holdings Berhad, Annual General Meeting, Feb 08, 2021. Agenda: To approve appointment of Messrs Grant Thornton Malaysia PLT as auditors of the company. 