Quarterly revenue rose 81.6% to RM73.2 million in 1QFY23 from RM40.3 million a year earlier, mainly attributed to stronger sales in the e-mobility, electric vehicle (EV) and energy storage, as well as hard disk drive (HDD) segments, the group's filing with Bursa Malaysia showed. On prospects, Genetec said the momentum in EV and energy storage continues to grow, driven by consumer demand and supportive policies as the world pivots towards renewables in the race to combat climate change. “Global sales of EV have doubled in 2021. We will continue to improve on our offerings through research and development whilst deepening our share of the market in the e-mobility, energy storage and HDD segments,” Genetec said. Shares of Genetec closed 5% or 13 sen lower at RM2.51 on Monday (Aug 29), giving it a market capitalisation of RM1.71 billion.
