RNT Technology Turns Profitable in Q1... Begins Turnaround

RNT Technology announced on the 16th that it recorded separate sales of 4.1 billion KRW in the first quarter of 2024. Operating profit on a separate basis turned positive compared to the same period last year, and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), an indicator of cash-generating ability, was approximately 900 million KRW. The EBITDA margin reached 21% of sales, showing steady growth compared to the previous year.

Looking at sales by division, the telecommunications components division recorded figures similar to last year due to the downturn in the upstream industry, but the sales proportion from overseas customers such as Ericsson and Nokia increased. The materials division also saw an increase in sales, which had been declining since 2021, accounting for 20% of total sales in the first quarter. In particular, demand from customers in Taiwan and China increased.

RNT Technology undertook a business restructuring last year to achieve a quantum jump and improve its profit and loss structure. Along with its core business, the MLC (components for telecommunications equipment) business, it laid the foundation to intensively foster new growth businesses such as the heat dissipation substrate business for electric vehicles and the MCP (multi-layer ceramic PCB) business for the defense industry. Recently, it has been delivering quantities to a defense company in the Middle East for mass production verification of MCP products, and full-scale mass production supply is expected to begin in 2026.

Lee Hyo-jong, CEO of RNT Technology, said, “This year, we plan to accelerate the improvement of financial soundness by establishing a solid profit structure,” adding, “We will make every effort to achieve external growth by realizing differentiated competitiveness to expand the new growth businesses currently underway.”

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