AEM Holdings net profit drops to $2.3M in 1Q24

It fell by 85.0% YoY.

AEM Holdings saw its net profit drop by 85.0% YoY to $2.3m in 1Q24.

Revenue and profit before tax likewise fell in 1Q24 by 38.3% YoY to $94.2m and by 85.8% YoY to $2.7m, respectively.

Quarter-on-quarter, the company's revenue remained flat.

A build-up of inventory in the life sciences and industrial sectors adversely impacted AEM's contract manufacturing revenue for the quarter.

Despite recording lower profits, AEM maintained its 1H24 profit guidance of $170m-$200m.

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AEM Holdings Ltd.

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