Korean compound semiconductor supplier Seoul Viosys announced the highest revenue in 3Q this year

Seoul Viosys Co., Ltd. is a Korean leading compound semiconductor solution provider, it announced financial results for the third quarter of 2020 with revenue of KRW 120.7 billion and operating profit of KRW 9.5 billion . It was the highest quarterly revenue since its establishment. 

The revenue increased 33 year-on-year and 17 quarter-on-quarter. In the visible LEDs in terms of high-value-added products such as WICOP, a LED production technology that does not require encapsulation, gradually increased, resulting in a double-digit growth year. WICOP is a technology for mass production of Mini and Micro LEDs in the future, although it is currently used in car LED headlamps and LCD backlights with its lightweight, compact and simple features.

UV LED revenue kept increasing by triple digits year over year. Violeds revenue is increasing greatly this year during the covid-19 pandemic as the global awareness of virus protection and huge market requirement for disinfections in daily life.

The financial results in third quarter also showed a strong improvement trend following first quarter and second quarter. Net debt ratio fell 30 percentage points (P) to 84.1 year over year because of the increase in cash and cash equivalents, and the current ratio also rose 15.4 percentage points year over year to 58.  Meanwhile, Seoul Viosys made a conservative fourth quarter revenue guidance of KRW 120 billion to KRW 110 billion, which is the same as in the third quarter facing the more and more external uncertainties. This is an increase of 20 to 31 compared to the same period last year.