Aztech Global profit falls 55.5% in 9M as IoT orders slow

Revenue down 40.9% YoY to $318.9m; free cash flow totals $14.5m

Aztech Global Ltd. reported a 55.5% year-on-year (YoY) decline in net profit to $26.9m for the nine months ended 30 September 2025, driven by weaker demand for IoT and data-communication products.

Revenue fell 40.9% YoY to $318.9m, with Q3 sales at $133.5m and net profit at $10.8m. Profit-before-tax margin narrowed to 10.2% from 13.0% a year earlier, reflecting lower customer orders and tighter pricing.

Despite lower earnings, the company generated $16.1m in operating cash flow and $14.5m in free cash flow. Aztech ended September with a net cash position of $229.5m, up from $214.5m in June. NAV per share declined to $0.36 from $0.44 at end-2024, mainly due to dividend payouts totalling $84.9m.

Aztech secured 22 new projects and added 11 customers across consumer, MedTech, industrial, and automotive segments. It expects five new projects to begin commercial production in Q4, with others scheduled for 2026.

The company also executed a sale-and-leaseback of its Dongguan, China facility for $7.4m (RMB41m) and signed a sale agreement for its Johor, Malaysia plant for $8.7m (RM28.7m), both set to complete in Q4.

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