AEM Holdings net profit drops 96.9% YoY to $3.5m in 9M23

The company's revenue also declined, falling by 48.2% YoY to $387m.

AEM Holdings reported a net profit of $3.5m in 9M23, a decline of 96.9% from 9M22.

The company's revenue also declined in 9M23, falling by 48.2% YoY to $387m from $746m in 9M22.

AEM Holdings attributed the decline to a downturn in the semiconductor industry, with reduced inventory and a slower recovery in Chinese demand.

On the flip side, AEM's profit before tax (PBT) margin remained at 2.6% as a result of managing operational costs and improved efficiencies throughout its business.

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