AEM Holdings Ltd.
Annual Report Financial Year 2021

Financial Year 2021 Highlights

Revenue

(in S$' Million)

Net Asset Value Per Share

(in Singapore cents)

Profit Margins

Diluted Earnings
Per Share

(in Singapore cents)

Performance Summary

Profit or Loss Statement

FY2021

S$’000

FY2020

S$’000

FY2021 vs FY2020

Change

Revenue

565,462

518,959

9.0%

Cost of sales

(378,813)

(351,521)

7.8%

Gross profit

186,649

167,438

11.5%

    

Research and development expenses

(19,935)

(11,441)

74.2%

Selling, general and administrative expenses

(58,674)

(45,932)

27.7%

Foreign exchange gain/(loss), net

1,891

(803)

NM

Other income, net of other expenses

1,892

3,896

-51.4%

Finance (cost)/income, net

(1,325)

448

NM

Share of equity-accounted investees’ profit, net of tax

644

199

223.6%

Profit before tax

111,142

113,805

-2.3%

    

Tax expenses

(19,051)

(16,218)

17.5%

Financial Position

Balance Sheet Highlights 31 Dec 2021

31 Dec 2021

S$’000

31 Dec 2020

S$’000

Property, plant and equipment

26,122

8,127

Right-of-use assets

17,767

9,509

Intangible assets

96,882

46,646

Investment in associates

15,887

4,680

Inventories

204,926

79,676

Trade and other receivables

127,941

47,571

Cash and cash equivalents

216,180

134,785

Total assets

710,498

335,519

Financial liabilities (current and non-current)

81,273

11,287

Trade and other payables (current)

181,048

83,658

Cash Flows

Cash Flows Statement Highlights

FY2021

S$’000

FY2020

S$’000

Net cash from operating activities

51,997

86,287

Net cash used in investing activities

(85,224)

(29,771)

Net cash from/(used in) financing activities

113,513

(25,904)

Net increase in cash

80,286

30,612

An Agile & Future-Focused Organisation

The forward march of advanced technologies enabled by semiconductors has gathered steam across the world, and we expect AEM to play a role in developing the equipment that ensure the quality of such next generation semiconductors as they get deployed in the cloud, 5G edge, smart devices and cars.
Despite the challenging landscape, I’m proud to say that we continued to be recognised as a global leader in application-specific intelligent system test and handling solutions as our team has displayed exceptional resilience, agility, and commitment to deliver successful outcomes for our customers.

A Growth-Driven Portfolio With A Breadth Of Innovation Capabilities

Complete Test Coverage & Support for Resilient Test Solutions

Traditional functional testing has been made less effective, almost impossible…
Picture of By Samer Kabbani
By Samer Kabbani

Delivering Test Solutions For an Application Specific World

The Instrumentation Business Unit (BU) includes two groups…
Picture of By Pascal Pierra
By Pascal Pierra

System of Strength

We have partnered with our key customer in their innovation processes to optimise outcomes on their production floor for back-end test for many years. As a leader…
Picture of By Seah Boon Seng
By Seah Boon Seng

2021 Milestones - Becoming A Leader In Testing Innovation

Brand Refresh
Acquired Singapore-based CEI Assembly & box build capabilities
Opening of AEM Hsinchu Office
Partnership with South Korea-based company ATECO Enhancing Testing Capabilities for the Memory Market
Launch of next-gen testing solutions
Opening of AEM San Diego Office
Opening of AEM Shanghai Office
Opening of AEM Costa Rica Office

Being customer-centric means first investing in our people and culture.

Talent is one of the greatest assets a company can have.

At AEM, we encourage our team members to continue challenging the status quo and identify opportunities to innovate and create new ways of working.

No matter where we are, together we are OneAEM.

Awards 2021

TEAM OF THE YEAR
SBR Management Excellence Awards 2021

SUPPLIER ACHIEVEMENT AWARD COVID-19 RESPONSE CATEGORY
2020 Intel SCQI Program Award

BEST IN MANUFACTURING TECHNOLOGY
SBR National Business Awards 2021

CORPORATE EXCELLENCE AWARD (SEMICONDUCTOR)
APEA 2021 Regional Edition

INNOVATOR OF THE YEAR
Sid Chan, Senior Director,
Test Cell Solutions BU
SBR Management Excellence Awards 2021

SECURITY SALES AND
INTEGRATION AWARD 2021
TestPro CV 100 Multifunction Cable Certifier

BEST ANNUAL REPORT (small cap)
IR Magazine Awards – South East Asia 2021

TESTPRO SMART BUILDING TEST KITS
Cabling Innovators Awards
[Platinum Honoree]

NETWORK SERVICE ASSISTANT
[Gold Honoree]

MMVNA 200
[Silver Honoree]

Engineering Success

Commitment To Sustainability

We recognise that the success of our business is inextricably linked to the progress of our people, the communities we live and work in, and the environment. As such, we remain consistently cognisant of the social, ethical, and environmental impact of AEM’s activities. Our vision, A Zero Failure World, encapsulates aspects of our business and our pursuit of sustainability action. Our commitment to sustainability focuses on the three key pillars as shown here.

Read our full Annual Report FY2021