17 Jan 2022

CROSBY Research - EVA Precision (838 HK): FY21 marked a turnaround year

EVA Precision (EVAP) issued a positive profit alert citing that it is expected to record a profit of around HK$120m to HK$150m in FY21 compared to a reported loss of HK$15m in FY20. The turnaround was mainly driven by 1) 20%/39% growth in OA/ automotive component segment revenue; 2) 1-2ppt GPM enhancement on better utilization of its production facilities; 3) effective cost control and 4) positive contribution from its acquisition of Futaba Metal Products in April last year.