Seoul Viosys Reports Historical High 2021 First Quarter Earnings
2021. 05. 04
Seoul Viosys Reports Historical High 2021 First Quarter Earnings
● The 2021 first quarter revenues and operating profit grew 40% and 342% YoY respectively
● Seoul Viosys expects 21% to 31% YoY growth for the second quarter 2021, signaling sustaining growth to continue
● Violeds revenue grew 91% YoY in the first quarter and to lead UV LED market expansion as top global player
● Seoul Semiconductor, its parent company, achieved top 3 spot in the global LED market in 2020
ANSAN, South Korea – Seoul Viosys Co., Ltd. (“Seoul”) (KOSDAQ 092190), a leading global optoelectronic semiconductor provider for short wavelength solutions, announced historical high 2021 first quarter earnings results with revenues of KRW 121.8 billion and operating profit of KRW 11.9 billion (operating margin of 9.7%) on a consolidated basis. First quarter net profit increased by 8,370% YoY and recorded KRW 12.9 billion hinting year-end dividend hype.
Despite headwinds of global macro difficulties experienced since the global pandemic, Seoul's first quarter revenues and operating profit grew 40% and 342% YoY respectively. The Company suggests sales growth to continue further increasing by 21% to 31% YoY for the second quarter 2021.
For the visible segment of the company, WICOP and other high-end products led to a 35% YoY growth in the first quarter 2021. This momentum is expected to be carried over to this year as the company entered production of Micro LEDs in the first quarter. Seoul Semiconductor, the parent company of Seoul also added support by achieving top 3 spot in global LED package market of 2020.
UV LED revenues for the first quarter grew by 91% YoY thanks to sound customer demand for its world’s first environment friendly bio and disinfection solutions. Since 2001, Seoul developed UV LED through early and continuous R&D investment and now holds more than 4,000 patents covering from epitaxy to chip package. Seoul is the top leader in market share in the global UV LED industry and continues to proactively meet customer needs with its innovative technologies ranging from chips to modules for various applications such as home appliances, air conditioning, and water treatment. Seoul also strongly highlights that it will not compete against any clients and hopes to expand business like IntelTSBC who gained more than 50% of global market share for doing so.
(Fig.1) Packaged LED market shares released by Omdia, global research leader
