Ubivelox Q2 Operating Profit 19.7 Billion KRW, Up 370% YoY... "Record-Breaking Performance"

Ubivelox announced on the 16th that it recorded consolidated sales of 249.9 billion KRW and operating profit of 23.1 billion KRW in the first half of this year. This represents a 20% increase in sales and a 207% increase in operating profit compared to the same period last year. In particular, the second quarter results showed remarkable growth with sales increasing by 28% year-on-year to 148 billion KRW and operating profit soaring by 370% to 19.7 billion KRW.

Kang Jeong-gyu, Executive Director overseeing the Management Strategy Headquarters, stated, “Our performance growth was driven by the expansion of overseas supply of smart cards and strong domestic sales of robot vacuum cleaners. Additionally, the easing burden of rising semiconductor and raw material prices has gradually started to reflect positively on our results.”

The overseas performance of the smart card business achieved sales of 15 billion KRW in 2021, 26 billion KRW in 2022, and has already reached 23 billion KRW in the first half of this year. Especially since April, high value-added metal cards have been actively supplied both domestically and internationally, and continuous performance growth is expected.

The robot vacuum cleaner business also recorded sales of approximately 70 billion KRW, a 55% increase from 45 billion KRW in the first half of last year, and all affiliated companies posted strong results, including the black box business turning profitable.

Executive Director Kang said, “The smart cards we possess have been widely used in the security (payment) market, but currently, the business scope is rapidly expanding into authentication areas such as automobiles, home appliances, chargers, and smart meters. We are confident that the second half of the year, which will fully reflect the prices of robot vacuum cleaners and raw materials such as semiconductors that sell better than in the first half, will show even better results compared to the first half.”

Ubivelox is developing and preparing to commercialize the Korean IC card independent standard ‘KLSC (Korea Local Smart Card)’ and is distributing and selling the robot vacuum cleaner product ‘Roborock’ domestically. Additionally, its affiliate, iNavi Systems, has selected Kiwoom Securities as the lead underwriter and is preparing for an IPO.

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