[SINGAPORE] Nanofilm Technologies said a strong performance by its consumer business segments helped to push its revenue up 12 per cent year on year to S$44 million in the first quarter ended Mar 31.
While the group’s gross profit margin exceeded 27 per cent, it was down from 33 per cent in Q1 of 2024. The dip was the result of lower contribution from Nanofilm’s industrial equipment business unit because of the timing of equipment deliveries, the nanotechnology solutions provider said in an exchange filing on Monday (Apr 21).
Turning to its advanced materials business unit, which accounted for 89 per cent of the group’s revenue during the quarter, Nanofilm said the segment’s resilience was strengthened by geographic expansion.
In February, the group’s wholly owned subsidiary, Nanofilm AM Germany, said it had entered a sale-and-purchase agreement to buy two Germany companies for 3.1 million euros (S$4.6 million).
Turning to the outlook following the sweeping tariffs announced by the US, Nanofilm said “the global operating environment remains complex and uncertain from tariff developments”. Still, it added that “the group’s resilience to these risks is underpinned by its diversified industry exposure and geographic presence, involvement in high-growth sectors and minimal direct US trade”.
Nanofilm’s shares closed flat at S$0.505 before the announcement.
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