Aztech Global’s Q1 profit plunges 90.6% to S$1.5 million on demand drop

Earnings per share for the period comes in at S$0.002, down from S$0.0206 a year ago

Aztech Global’s net profit for the quarter ended Mar 31, 2025, fell 90.6 per cent to S$1.5 million, from S$15.9 million in the corresponding period in the previous year.

This came as revenue for the period declined 67.3 per cent year on year to S$42 million from S$128.6 million, due to reduced customer demand in the quarter, said the Internet of Things device manufacturer in a bourse filing on Tuesday (Apr 15).

This marks the third consecutive time that the group reported a profit drop.

Earnings per share for the quarter came in at S$0.002, down from S$0.0206 a year ago.

The mainboard-listed company highlighted its “prudent capital expenditure”. As at end-March, its net cash position was S$315.7 million, with its net asset value per share remaining at S$0.44.

“As part of its customer base expansion initiative, the group is positioning its Malaysia facility as the manufacturing partner for customers looking to mitigate supply chain risks arising from geopolitical and tariffs uncertainties,” said the group.

It has secured five new customers from the consumer, health tech and industrial segments during the quarter, with commercial production scheduled to start from the second half of 2025.

Michael Mun, executive chairman and chief executive officer of Aztech Global, said: “We are focused on developing our capabilities, enhancing our competitiveness and diversifying our customer base. With strong manufacturing footprint, we will be looking to tap on opportunities that might arise from the current challenging situation.”

Shares of Aztech Global closed Tuesday up 0.7 per cent or S$0.005 at S$0.73, on a cum dividend basis.

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