After revenue miss, will Frencken still recover?

Shareholders may expect a recovery in the second half of 2023.

Tech firm, Frencken, was faced with a revenue miss in the third quarter (Q3) of 2022, which declined 0.6% year-on-year to $195.3m.

To blame for the low revenue were the slower recovery in its automotive business and weaker Euro value, according to a brokerage report.

"Frencken's Q322 revenue of S$195.3m (-0.6% YoY) was 16.6% below our S$234.3m expectation," said CGS-CIMB.

Insights from CGS-CIMB also showed that they downgrade Frencken, with a target price cut to $0.95.

CGS-CIMB said the business environment may recover starting the second half of next year.

"Upside risks are a less severe slowdown in its semiconductor business segment, better cost controls, and greater concessions from customers on cost pass on by Frencken," said the capital markets firm.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!