Seoul Viosys Reports Fiscal Year 2020 Revenues and Operating Profit Results

• The FY 2020 revenues and operating profit grew 23% and 166% respectively
• Seoul Viosys expects 38% to 50% YoY growth for the first quarter 2021, signaling a big leap year
   

ANSAN, South Korea – Seoul Viosys Co., Ltd. (“Seoul”) (KOSDAQ 092190), a leading global compound semiconductor provider, today announced financial results for the 2020 fiscal year with revenues of KRW 431.3 billion and operating profit of KRW 27.2 billion (operating margin of 6.3%) on a consolidated basis. This growth in revenues comes despite of global macro difficulties experienced due to the spread of the COVID-19. The company suggests growth to accelerate further growing 38% to 50% YoY for the first quarter 2021.

The UV LED revenues for 2020 grew in triple digits due to strong customer demand for its environment friendly disinfection solutions. A recent study conducted by a research institute in Korea showed that the COVID-19 (SARS-CoV-2) is disinfected 99.437% in just one second when exposed to UV LED Violeds. Seoul expects its Violeds solutions to be adopted by handful of global top tier customers (one to three customers per country) located the US, EU, Japan, Korea and China as Violeds solutions gain more recognition for its superb capability to disinfect harmful bacteria and virus. In 2020, the company has already gone through massive expansion of capacity needed and plans to expect to fuel growth with more competitive pricing.

For the visible segment of the company, WICOP and other high end products led to a 14% YoY growth in 2020. This momentum is expected to be carried over to this year as the company enters production of Mini and Micro LEDs in the first quarter.

In the first quarter 2021, Seoul for the first time entered the 5G data communications market by successfully delivering 25Gbps VCSEL products to three new customers. This comes after two years of development and marketing efforts after acquiring a Laser Diode company in 2018. The size of the VCSEL market is currently estimated to be USD 1.1 billion which is dominated by three US companies. Seoul expects this market to accelerated growth as more data transfers become necessary in the new 5G communications environment. VCSEL is an essential technology when it comes to the wider adoption of AR and VR, ToF (Time of Flight) cameras used in smartphones for 3D sensing, and LiDAR for autonomous driving. Seoul expects to receive final customer qualification for the sensing application planning to enter production in the first quarter 2021.

“The company displays a banner at the main entrance gate (“Rising Up”) and all team members proclaims this together every morning before start of the day to reinforce our determinations,” said an official at Seoul Viosys.

 

Source: Seoul Viosys

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