[%lYdw%]
Research by Apex
Buy - TP RM1.66

"Earnings growth prospects intact"

• Samaiden’s 4QFY24 core net profit rose +12.7% qoq and +55.3% yoy to RM4.6m, bringing FY24 core net profit to RM15.3m, which exceeds our expectations at 110.9% and the consensus expectation at 104.6%.
• The Group currently holds an order book of RM313.5m, with anticipated growth from upcoming CGPP, LSS5, NEM, and CRESS programmes.
• We maintain our earnings forecast for both FY25F and FY26F and reaffirm our BUY recommendation, with unchanged target price of RM1.66 based on a SOP valuation.

Analyst:
Tan Sue Wen
[%qpkS%]

$KLSE-SAMAIDEN
Research by Apex
Buy - TP RM1.66

"Earnings growth prospects intact"

• Samaiden’s 4QFY24 core net profit rose +12.7% qoq and +55.3% yoy to RM4.6m, bringing FY24 core net profit to RM15.3m, which exceeds our expectations at 110.9% and the consensus expectation at 104.6%.
• The Group currently holds an order book of RM313.5m, with anticipated growth from upcoming CGPP, LSS5, NEM, and CRESS programmes.
• We maintain our earnings forecast for both FY25F and FY26F and reaffirm our BUY recommendation, with unchanged target price of RM1.66 based on a SOP valuation.

Analyst:
Tan Sue Wen
suewen.tan@apexsecurities.com.my