Nanofilm narrows net loss by 51.1% in H1 2024

Net loss for the period was reduced to $3.7m from $7.6m.

Nanofilm reported that its net loss for H1 2024 has narrowed 51.1% year-on-year (YoY) to $3.7m from $7.6m a year ago.

Revenue for the period rose 13.0% YoY to $83m led by the Advanced Materials Business Unit (AMBU) which posted a 19.9% YoY growth amidst a 16.7% increase in 3C and a 26.1% growth in the industrial segment.

The company’s Nanofabrication Business Unit (NFBU) grew 49.8% YoY, mainly from the MLA project, whilst its Sydrogen JV grew 92.0% YoY from BPP coatings for automotive customers.

Meanwhile, the Industrial Equipment Business Unit (IEBU) experienced a 56.0% YoY revenue decline due to a softer market.

Nanofilm is proposing an interim dividend of $0.0033 per share.