G&Bs Eco, 3Q Cumulative Sales of 75.2 Billion KRW... "Continued Double-Digit Growth"

G&Bs Eco announced on the 25th that its cumulative sales for the third quarter increased by 64.9% compared to the same period last year, reaching 75.2 billion KRW.

Operating profit and net income also showed remarkable growth during the same period. Operating profit grew by 56.4% to 16.4 billion KRW, surpassing last year's operating profit. Net income increased by 42.1% to 14.2 billion KRW.

On a quarterly basis, sales continued double-digit growth, achieving 20.4 billion KRW, a 55.5% increase compared to the same period last year. Operating profit and net income were 5.0 billion KRW and 4.7 billion KRW respectively, growing 47.8% and 35.7% year-over-year.

Following record-breaking performance in the first half of the year, the cumulative sales for the third quarter have already exceeded last year's annual sales, which is attributed to the stable growth of the semiconductor business and a significant increase in orders in the solar power business sector.

Sales of solar power equipment increased by 22.8% year-over-year to 38.7 billion KRW, driven by expanded delivery performance to leading Indian solar companies such as Adani (ADANI), Waaree (Waaree), and Tata (TATA). Semiconductor equipment sales continued to grow, reaching 35.4 billion KRW.

A company representative explained, “Based on a balanced business portfolio including semiconductors and solar power, we have already surpassed last year's sales and operating profit in the third quarter. In particular, the global solar power market growth doubled the sales proportion compared to last year, leading to significant external growth.”

They added, “With the accelerated recovery of the semiconductor industry and the strengthening of the global carbon-zero policy, semiconductor business orders are expected to expand significantly. As we are also promoting the energy multiplex business as a future growth engine this year, corporate value is expected to improve further next year.”

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