Seoul Semi’s Net Profit Grew Datas in 3Q

ANSAN, South Korea – Seoul Semiconductor Co., Ltd. (“Seoul”) (KOSDAQ 046890), a leading global compound semiconductor provider, recorded sales (consolidated) of KRW 340.3 billion, operating profit of KRW 24 billion, and net profit of KRW 28.4 billion in the third quarter of 2021, which grew 2.7%, -5.6% and 95.2%, respectively, compared to last year. This is a record that broke the best quarterly sales obtained in the second quarter. The cumulative net profit in the third quarter was 72.2 billion won, up 145% year-on-year.

 

Despite production setbacks in downstream industries due to a shortage of semiconductor parts and rising LCD panel prices, the Seoul Semiconductor Display Division has started to mass-produce Mini LEDs-which take center stage of next-generation technology-and started supplying them to global TV companies.

 

In the general lighting sector, Seoul Semiconductor’s first lineup is SunLike, a light source that is most similar to sunlight, effective in preventing myopia and optimized for the human body’s 24-hour circadian rhythm, followed by High Power, which has broadened business opportunities through M&As with some competitors, and then horticultural LEDs comes next. As such, Seoul Semiconductor has been actively responding to various markets and continuing its growth.

 

Sales guidance for the fourth quarter was presented from KRW 310 billion to KRW 330 billion, 6% increase from the same level of the previous year, considering the recent shortage of IT parts and low-demand season. This guidance predicts that 2021 annual sales will grow by 13%-14% compared to the previous year to reach from KRW 1.297.5 trillion to KRW 1.31 trillion, raising expectations for a leap forward next year.