[Public Notice+] FineTech, Operating Profit Up 901% YoY... "Will Continue Steep Growth Trend"

[Asia Economy Reporter Hyunseok Yoo] FineTec announced on the 9th that its operating profit on a consolidated basis last year grew by 901.4% to 3.55 billion KRW. During the same period, sales increased by 18.2% to 77.88 billion KRW, and net profit turned positive to about 100 million KRW for the first time in four years.

This significant performance growth is attributed to the expansion of orders for OLED (Organic Light Emitting Diode) bonding equipment, centered on the world's first developed bonding equipment for foldable devices, as well as the strong performance of the highly profitable parts business.

Following last year, FineTec continues to receive a surge in demand for new line expansions and existing line modifications due to increased investments by major customers such as Samsung Display and Chinese display companies including BOE, CSOT, GVO, and ROYOLE, maintaining its streak of OLED bonding equipment orders. A company representative stated, “Thanks to the expansion of orders this year, both the equipment and parts businesses have shown significant growth, and the debt ratio, a key indicator of financial soundness, improved dramatically from 272% last year to 92%. Although net profit is not large due to temporary costs such as the repayment of convertible bonds in the first half of last year, we have returned to profitability for the first time in four years, and we expect accelerated growth this year.”

The company is expected to continue its steep growth this year. Along with expanding orders for foldable OLED bonding equipment, FineTec is focusing on securing a lineup of OLED bonding equipment ranging from small to large sizes by actively developing large OLED bonding equipment. Additionally, by entering the secondary battery automation equipment market, the company is leveraging its accumulated technology and know-how to actively promote the secondary battery business, including securing personnel for secondary battery equipment. In January alone, orders equivalent to about 5% of last year’s sales were secured, and further order expansion is anticipated with the growth of the secondary battery market.

A company representative explained, “With solid existing businesses and new growth engines such as secondary battery automation production equipment and large OLED bonding equipment secured, stable performance growth is expected this year as well. If last year was a period of preparation for growth, this year will be the first year of FineTec’s leap forward.”

This content was produced with the assistance of AI translation services.