Pinetek, 1Q Operating Profit Turns Positive... "Successful Performance Improvement"

FineTec signaled the first sign of a full-scale performance improvement by successfully turning a profit in the first quarter.

FineTec announced on the 10th that it achieved a turnaround with an operating profit of 1.2 billion KRW in the first quarter on a consolidated basis. During the same period, sales increased by 25% year-on-year to approximately 15 billion KRW. Net profit also turned positive, recording 900 million KRW.

This performance growth is attributed to the strong performance of the organic light-emitting diode (OLED) display manufacturing equipment business. The division's sales, which were only 3.1 billion KRW in the first quarter of last year, more than doubled to 6.7 billion KRW in the first quarter of this year. In particular, the order backlog as of the first quarter increased by 214% compared to the same period last year, raising expectations for continuous sales growth.

A FineTec official stated, “We were able to turn a profit thanks to the improved performance of the OLED display equipment business,” and added, “We plan to focus on sustaining the growth trend by leveraging the already secured order backlog and expanding additional orders.”

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