Aztech Global posts $115.9m revenue in Q1, 2021

This was due to higher production volume and shipment.

Mainboard-listed Aztech Global has reported a revenue of $115.9m for Q1 2021 “driven mainly by strong production volume and shipment of IoT and Data-communication products to customers,” the company announced in a filing.

It has also registered a net profit of $13.2m during the period.

Production at the company’s manufacturing facilities was comparatively higher during the period, compared to FY 2020, as the factory shut down during the year’s Chinese New Year holiday was “relatively shorter” to meet the increasing need for production.

Increase in revenue contribution from IoT devices and data communication products, coupled with the continuous efforts to improve productivity and efficiency, led to 411.4% and 600 basis points increase in EBITDA and EBITDA margin to $17.9 million and 15.4% for Q1 2021, respectively.

The group, which has secured new projects to produce new IoT products for both existing and new customers, said it will proactively fortify its value to customers through quality design, product, service and technology to sustain growth.

“Taking into considerations the strong order book to date and measures that we have put in place to mitigate the COVID-19 pandemic, the group, barring unforeseen circumstances, is cautiously optimistic of its performance in 2021,” Aztech Global chairman and CEO Michael Mun said.