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Seoul Viosys Reports Record-High Second Quarter 2021 Results

·3 min read
  • The 2021 second quarter revenues and operating profit grew 27% and 84% YoY respectively while first half net profit recorded KRW 22.8 billion exceeding 2020 yearly profit

  • Seoul Viosys expects 7% to 16% YoY sales growth for the third quarter of 2021, signaling that its sustainable growth continues

  • Set a sound foundation for future growth through 2nd generation technology WICOP and Micro LED investment

ANSAN, South Korea, August 04, 2021--(BUSINESS WIRE)--Seoul Viosys Co., Ltd. ("Seoul") (KOSDAQ 092190), a leading global compound semiconductor provider, today announced its all-time high second quarter earnings results 2021 with revenues of KRW 131.6 billion and operating profit of KRW 11.2 billion (operating margin of 8.5%) on a consolidated basis. Second quarter consolidated revenue and operating profit increased by 27% YoY and by 84% YoY respectively.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210804005458/en/

Packaged LED market shares according to Omdia report released on March 2021 (Graphic: Business Wire)

Second quarter net profit increased by 41% YoY reaching KRW 9.1 billion while 2021 first half net profit already exceeded 2020 yearly profit KRW 19.6 billion. The company suggests sales are expected to continue further growth, increasing by 7% to 16% YoY for the third quarter 2021.

For the visible segment of the company, WICOP, which offers package-less LED solutions designed with a robust structure, achieved a 68% YoY growth in second quarter 2021 and led to total revenue and profit growth. Micro Clean Pixel to potentially replace the existing display market which was first introduced at CES 2020 started mass production. Seoul expects this could lead to a quantum leap in sales in the future.

On July 15th, 2021, a study conducted by a research team at Korea University showed that the Delta variant (SARS-CoV-2:B.1.617.2) is disinfected 99.3% in just one second when exposed to UV LED Violeds. In addition, Seoul conducted an in-house air disinfection laboratory test (60㎥), which resulted in 90% disinfection in 10 minutes.

On August 4th, Seoul announced a new air disinfection solution which can provide faster and stronger disinfection in a wider space at its on-line press conference. A new plan to supply products for multi-use facilities was announced as well. Seoul added a comment that it is already poised for 2022 future growth through increased investment in first half to solidify a sound foundation for 2nd generation technology WICOP products.

About Seoul Viosys

Seoul Viosys is a full-line solution provider for UV LED, VCSEL (Vertical Cavity Surface Emitting Laser), the next-generation light source for 3D sensor and laser, and a single-pixel RGB "Micro Clean Pixel" for displays. Established in 2002 as a subsidiary of Seoul Semiconductor, it captured the No. 1 market share in the UV LED industry (LEDinside, 2018). Seoul Viosys has an extensive UV LED portfolio with all wavelengths range (200nm to 1600nm) including ultraviolet rays (UV), visible rays and infrared rays. It holds more than 4,000 patents related to UV LED technology. Violeds, its flagship UV LED technology, provides a wide range of industries with optimal solutions for strong sterilization and disinfection (UVC), skin regeneration (UVB), water/air purification and effective cultivation for horticulture. In 2018, Seoul Viosys acquired RayCan, a leading optoelectronic specialist, to add the advanced VCSEL technology which supports smartphone facial recognition and autonomous driving, and has started its mass production. In January 2020, it introduced a disruptive "Micro Clean Pixel" that has the potential to be a game-changer in the display market. To learn more, visit http://www.seoulviosys.com/en/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005458/en/

Contacts

For Seoul Viosys
Seoul Semiconductor Co., Ltd.
Jeonghee Kim
Tel: +82-70-4391-8311
Email: jeonghee.kim@seoulsemicon.com

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