AEM Holdings Reports Sharp Revenue Decline

AEM Holdings Ltd. (SG:AWX) has released an update.

AEM Holdings Ltd. reported a decrease in 1Q2024 revenue to S$94.2 million, a significant drop from the previous year, alongside a profit before tax of S$2.7 million, which reflects a steep decline compared to 1Q2023. These results include the impact of a S$2.1 million restructuring charge following recent organizational changes. Despite these challenges, the company maintains its revenue forecast for the first half of 2024, signaling confidence in its strategic direction and R&D investments in the High Performance Compute/AI sector.

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