IL Science, 2Q Sales Up 291% YoY... "Turnaround Begins"

[Asia Economy Reporter Hyunseok Yoo] IL Science announced on the 13th that its sales in the second quarter of this year reached 9.8 billion KRW with an operating profit of 400 million KRW, marking a 291% increase and a turnaround to profit compared to the same period last year.

The B2B sector recorded 11 billion KRW, a 222% increase compared to the cumulative half-year period of the previous year. The B2G sector increased by 325% to 3 billion KRW. The half-year report disclosed that the current order backlog stands at 82.3 billion KRW.

Kwangin Ahn, Director (CFO) of IL Science, said, "The second quarter of this year showed a balanced increase in sales compared to the previous year, with remarkable growth in the B2G sector, which has a high profit margin," adding, "Considering the distinct seasonality of lower sales in the first half and higher sales in the second half typical of the B2G and B2B sectors, as well as the current order backlog, we expect the second half performance to continue at an all-time high." He continued, "We will strive to maintain steady growth through sales of automotive silicone lenses and the mid-to-long-term portfolio including B2C."

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