Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a market leader in LED design and manufacturing, today announced consolidated third-quarter revenue of KRW 320 billion exceeding its guided range of KRW 300 ~ 320 billion. Operating income recorded KRW 28 billion and EBITDA was KRW 55 billion.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181029005283/en/

Seoul Semiconductor Co., Ltd., a market leader in LED design and manufacturing, today announced cons ...

Seoul Semiconductor Co., Ltd., a market leader in LED design and manufacturing, today announced consolidated third-quarter revenue of KRW 320 billion exceeding its guided range of KRW 300 ~ 320 billion. Operating income recorded KRW 28 billion and EBITDA was KRW 55 billion. (Graphic: Business Wire)

During the third-quarter, TV division sales significantly increased due to enlarging trend of display screens and cost leadership was enforced even further on rising demand of its differentiated technology WICOP. Customers’ rising demand for WICOP and Acrich MJT technologies in the high power segment for lighting also contributed to increased profitability.

For automotive lighting, WICOP and nPola made inroads into new head-lamp applications. In this quarter, the company’s promotion of its package less WICOP for automotive headlamp application gained further traction resulting in global automakers adapting its technology for cars scheduled to be mass produced in next year and in 2021 continuing sales momentum of the fourth-quarter.

Although fourth-quarter is generally a slow season for the front industry, the company’s new manufacturing plant in Vietnam with its utilization already above 70% in the third-quarter, is expected to further stabilize in the fourth-quarter further contributing to consolidated profits.

Seoul Semiconductor provided sales guidance of KRW 300 to 320 billion for the upcoming fourth-quarter suggesting YoY growth to continue.

“The founder’s insight and teamwork of employees in various countries were behind the great achievement of turning crisis into opportunity to record a three-year consecutive sales growth after suffering from three years of stagnant growth. The company is capability of generating KRW 200 billion of EBITDA annually and will further pursue shareholder friendly policies,” said Min Su Son, marketing vice president of Seoul Semiconductor.

About Seoul Semiconductor

Seoul Semiconductor develops and commercializes LEDs for automotive, general illumination, specialty lighting, and backlighting markets. As the fourth-largest LED manufacturer globally, Seoul Semiconductor holds more than 12,000 patents, offers a wide range of technologies, and mass produces innovative LED products such as SunLike – delivering the world’s best light quality in a next-generation LED enabling human-centric lighting optimized for circadian rhythms; WICOP – a simpler structured package-free LED which provides market leading color uniformity and cost savings at the fixture level, providing high lumen density and design flexibility; NanoDriver Series – the world’s smallest 24W DC LED drivers; Acrich, the world's first high-voltage AC-driven LED technology developed in 2005, including all AC LED-related technologies from chip to module and circuit fabrication, as well as multi-junction technology (MJT); and nPola, a new LED product based on GaN-substrate technology that achieves more than ten times the output of conventional LEDs. UCD constitutes a high color gamut display which delivers more than 90% NTSC. To learn more, visit www.seoulsemicon.com.

Forward-looking statements:

This press release material contains forward-looking statements which reflect Seoul Semiconductor’s current views with respect to future events and financial performance, which are subject to certain risks and uncertainties which could cause actual results to differ materially from those anticipated. Although Seoul Semiconductor believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. Seoul Semiconductor undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. All financial figures are consolidated unless stated otherwise.