, Singapore

Nanofilm sees strong 1Q24 with 19% revenue increase

Increased contributions from tech and industrial segments drove higher revenue.

Nanofilm has recorded a 19% YoY higher revenue of $39m in 1Q24 due to robust growth in some of its business units.

The Computer, Communication, Consumer (3C) and Automotive segments, up 41% and 24%, respectively, drove revenue growth for the period. Other industrial segments also logged 21% growth.

Within the 3C segment, the smartphone sub-segment contributed the most revenue, at 44%.

“Nanofabrication Business Unit remained relatively stable in line with projects’ current production status, and Hydrogen continued its mass production for a key customer,” the company noted.

For 2024, Nanofilm projects the consumer segment to be the main driver of its revenue. 

“Other segments, in particular the industrial segment, present bright prospects due to our market expansion in Europe as well as Sydrogen’s (BPP coatings) production to cater to additional automotive customers,” it added. 

Nanofilm also said the continuous optimisation of cost structures coupled with lower capex will improve profitability. 

MORE LIKE THIS: Nanofilm's PATMI plummets to $3m in FY23

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