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Latest Forum Topics / Frencken    Last:3.0 --  Post Reply
New phases new horizons, aim $3 by 2022
kt3152
Supreme
06-Mar-2025 09:13     
 
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 Alert Admin 		Bought some 107 from sell down by house 01.....
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TraderBen
Supreme
06-Mar-2025 08:10     
 
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 Alert Admin 		The 270b semiconductor investment will defo benefit Frencken and UMS tremendously .. that explains the buy ups for these 2 companies the last few days
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kt3152
Supreme
05-Mar-2025 15:38     
 
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 Alert Admin 		I think so too. The constant buying of small lots is angmo house....

rghleex1      ( Date: 05-Mar-2025 13:21) Posted:

Rotational play, they seem to favour fencken now
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rghleex1
Master
05-Mar-2025 13:21     
 
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 Alert Admin 		Rotational play, they seem to favour fencken now
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LoudShout
Master
05-Mar-2025 12:39     
 
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 Alert Admin 		Many opportunities for BB to collect below 1.07 in the past few days.

kt3152      ( Date: 05-Mar-2025 11:30) Posted:

BB blocking 107 to collect?.....
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kt3152
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05-Mar-2025 11:30     
 
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 Alert Admin 		BB blocking 107 to collect?.....
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LoudShout
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05-Mar-2025 09:13     
 
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 Alert Admin 		This counter goes down when Nasdaq is up, goes further down when Nasdaq is down.  One way ticket to the bottom.... No share buyback mandate, wait for its improvement down the road which always turned out to be a damp squid... Maybe it you call it so often, it may inch up.
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kt3152
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05-Mar-2025 08:49     
 
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 Alert Admin 		Us tech recovered so much losses now green. Should be good.....

Battle123      ( Date: 04-Mar-2025 20:18) Posted:

Reali cannot tahan liao, gonna add some more

 

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Battle123
Elite
04-Mar-2025 20:18     
 
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 Alert Admin 		Reali cannot tahan liao, gonna add some more

 
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TraderBen
Supreme
04-Mar-2025 17:06     
 
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 Alert Admin 		close at day low somemore.. wtf..

trader1970      ( Date: 04-Mar-2025 14:53) Posted:

Be Patient, most one more day to accumulate and it should charge up soon..What goes in must come out..lol.  enlightened

TraderBen      ( Date: 04-Mar-2025 14:14) Posted:

UMS fly alrdy leh.. what?s Frencken waiting for?
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trader1970
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04-Mar-2025 14:53     
 
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 Alert Admin 		Be Patient, most one more day to accumulate and it should charge up soon..What goes in must come out..lol.  enlightened

TraderBen      ( Date: 04-Mar-2025 14:14) Posted:

UMS fly alrdy leh.. what?s Frencken waiting for?
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TraderBen
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04-Mar-2025 14:14     
 
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 Alert Admin 		UMS fly alrdy leh.. what?s Frencken waiting for?
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Shenzhun01
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04-Mar-2025 13:35     
 
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 Alert Admin 		https://www.minichart.com.sg/2025/03/03/frencken-group-2024-financial-results-optimistic-growth-amid-semiconductor-recovery/


Frencken Group 2024 Financial Results - Optimistic Growth Amid Semiconductor Recovery

Frencken Group Overview



Frencken Group&rsquo s 2024 earnings reached S\$37 million, marking a 14% year-on-year increase. The revenue grew by 7% to S\$794.3 million, driven by the robust performance in key segments such as semiconductors, analytical & life sciences, and medical, while declines in automotive and industrial automation revenues were noted. The company&rsquo s solid financial performance has been underpinned by improved operating leverage, with the gross margin expanding by 1.3 percentage points to 14.5%.

With a share price of S\$1.04 and a revised target price of S\$1.16 (an 11.5% upside), Frencken remains a BUY. The target price adjustment reflects a concession in the PE multiple peg (reduced from 14x to 12.5x 2025F PE) in light of a more cautious sentiment driven by uncertain geopolitical conditions, though there is confidence in the recovery of the semiconductor cycle.

Financial Performance and Guidance



The detailed profit & loss analysis shows a steady progression in key financial metrics over the forecast period. With net turnover increasing from S\$794.3 million in 2024 to an expected S\$907.4 million by 2027, and EBITDA improving from S\$74.2 million to an estimated S\$87.7 million, the company demonstrates clear growth.

Operating profit is expected to rise from S\$43.6 million in 2024 to S\$51.1 million in 2027. Despite margin pressures in some segments, the overall net margin is poised to remain stable around 4.9% over the mid-term. The balance sheet also remains robust with steadily increasing shareholders&rsquo equity, while the debt metrics indicate a prudent leverage strategy.

The cash flow analysis highlights positive operating cash flows and a prudent capital expenditure plan aimed at enhancing production resources, particularly with plans to expand production capacity in Singapore and inaugurate a new US facility in 1H25. These initiatives underscore Frencken Group&rsquo s focus on operational efficiency and long-term resilience.

Valuation & Recommendation



UOB Kay Hian maintains a BUY recommendation on Frencken Group despite the modest reduction in the target price. The recommendation is supported by strong operating performance and improved gross margins, with a forward PE multiple peg set at 12.5x 2025F earnings, slightly above the historical mean to account for the semiconductor recovery potential. This positive outlook is reinforced by the company&rsquo s diversified revenue base and strategic expansion initiatives.

Peer Comparisons and Company Analysis Across Segments

SGX-Listed Peers



The report provides a comparative analysis of Frencken Group with SGX-listed peers:
  • Venture: Trading at a premium, Venture&rsquo s target price remains supported by a higher PE multiple (14.6x for 2025F) and relatively strong ROE, although with a higher share price compared to Frencken.
  • AEM: With a share price of S\$1.32 and a PE of 17.9x for 2025F, AEM&rsquo s performance is noted for its lower margin but competitive valuation.
  • UMS: Trading at S\$1.02, UMS presents a PE of 16.1x for 2025F, coupled with a strong ROE, positioning it as a formidable peer in the industry.

Semiconductor Peers



The semiconductor segment is supported by global leaders:
  • ASML: Dominating with high trading prices (EUR 682.2) and a PE ratio of 27.9x for 2025F, ASML&rsquo s stellar performance highlights the high expectations in the semiconductor industry.
  • Intel: With a trading price of USD 23.09 and an impressively high PE of 47.7x for 2025F, Intel&rsquo s valuation paired with its scale makes it a critical comparative benchmark.
  • Kulicke & Soffa: Trading at USD 37.85, its performance is underscored by a PE of 23.7x for 2025F, reflecting the technical depth and market share it commands.
  • Benchmark Elec: With a trading price of USD 39.6 and a PE of 16.5x for 2025F, Benchmark Elec rounds out the segment comparison with a balanced valuation outlook.

Industrial Automation Peers



The industrial automation space is evaluated with peers such as:
  • Seagate Tech: Trading at USD 100.67, it features a PE of 13.6x for 2025F. Seagate&rsquo s valuation is notable with a pronounced focus on asset efficiency.
  • Western Digital: With a trading price of USD 48.2 and a lower PE of 8.4x for 2025F, Western Digital&rsquo s performance draws attention to scale and market adaptability.

Analytical & Medical Peers



In the analytical and medical segments, several key players provide the benchmark:
  • Thermo Fisher: With a trading price of USD 523.23 and a PE of 22.4x for 2025F, Thermo Fisher&rsquo s leadership is evident with strong margin profiles and innovation.
  • Oxford Instruments: Trading at GBp 1892, it maintains a consistent performance with a PE of 16.4x for 2025F, showcasing stability in pricing power.
  • Koninklijke Philips: Trading at EUR 24.92, Philips boasts a PE of 15.7x for 2025F, balancing market growth and valuation.
  • Siemens Healthineers: At EUR 53.56, this entity rounds out the group with an impressive PE of 21.8x for 2025F, underlining its status as a key global player.

Automotive Peers



The automotive sector comparison includes:
  • Valeo: Trading at EUR 9.926, it sports a relatively low PE of 6.3x for 2025F, reflecting a cautious market view in the automotive space.
  • Visteon: With a trading price of USD 86.57 and a PE of 10.1x for 2025F, Visteon emphasizes balanced growth expectations.
  • Thyssenkrupp: Trading at EUR 7.474 and a PE of 10.0x for 2025F, Thyssenkrupp represents a stable, yet modest, valuation.
  • Bosch: With a price of INR 26498.35, Bosch&rsquo s high trading levels are supported by a vigorous market presence and substantial industry valuation.
  • Denso: At JP JPY 1935, Denso maintains a PE of 10.4x for 2025F, underpinning its role as a critical player in the automotive supply chain.
  • Johnson Controls: Trading at USD 84.25 with a PE of 23.3x for 2025F, Johnson Controls exhibits strong market confidence paired with robust operational metrics.

Stock Impact & Catalysts



Frencken Group is actively working on initiatives to build resilience and ensure adaptability in a shifting market landscape. With a focus on expanding production capacity both in Singapore and the US, the company&rsquo s initiatives are designed to enhance operational efficiency, increase capacity, and capitalize on future opportunities. Higher-than-expected factory utilization rates and improved cost management are seen as key catalysts that could drive further upward momentum.

Conclusion



The report encapsulates Frencken Group&rsquo s balanced performance in 2024, underpinned by growth in high-performing segments such as semiconductors, analytical & life sciences, and medical, despite headwinds in automotive and industrial automation. With strategic initiatives in place, a diversified revenue mix, and a robust financial profile, Frencken Group remains a compelling BUY at a target price of S\$1.16. Peer comparisons further highlight the company&rsquo s competitive positioning across various segments, underscoring its resilience and growth potential in a dynamic global market.
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stlimst
Master
04-Mar-2025 12:08     
 
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 Alert Admin 		Bro msksmsks,
I conitnue to admire your optimism in Frencken.
But like Bro positiv said, maybe should not promote this counter as it will attract shortists.
Let the real market determine how much Frencken is worth.
And those really keen, do your due diligence and make the appropriate decision.

In SGX, it is not how good the stock is that determines the stock price, it is determined by BBs and shortists.

msksmsks      ( Date: 03-Mar-2025 19:37) Posted:

Juz Saw some analysts rpts

DBS TP 1.47
OCBC TP 1.44

Interesting


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LoudShout
Master
04-Mar-2025 10:30     
 
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 Alert Admin 		They collect their bonuses, stock options and keep on repeating the same mantra, it will be better and then the same excuses.  Craps

positiv      ( Date: 04-Mar-2025 10:17) Posted:

Company has been telling us a brighter prospect since more than 3 months ago, yet the share price has been continually sinking to its current near 52 week low, despite making more money
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positiv
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04-Mar-2025 10:17     
 
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 Alert Admin 		Company has been telling us a brighter prospect since more than 3 months ago, yet the share price has been continually sinking to its current near 52 week low, despite making more money
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positiv
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04-Mar-2025 10:09     
 
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 Alert Admin 		Maybe stop promoting it will help the price to go up instead? Whenever there is promotion of this stock, price tends to slide downwards after that. Short sellers like to target this whenever there is interest in this stock
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rghleex1
Master
04-Mar-2025 09:36     
 
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 Alert Admin 		This counter attracts many short sellers daily, hit 1.08 then reverse yesterday
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kt3152
Supreme
04-Mar-2025 09:34     
 
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 Alert Admin 		Bought some 105 this morning.....
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rghleex1
Master
04-Mar-2025 09:33     
 
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 Alert Admin 		Can't make it
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