Jaeyoung Solutec Q3 operating profit rises 136% year on year to 9.2 billion won

[Financial News] Jaeyoung Solutec said on the 11th that it recorded consolidated revenue of 55.7 billion won and operating profit of 9.2 billion won in the third quarter of this year. The figures were up 25% and 136%, respectively, from the same period last year.
Cumulative revenue for the first three quarters of this year totaled 162.8 billion won, up 40% from the same period a year earlier. Operating profit for the period was 26.3 billion won, and net income was 17.2 billion won.
Growth in revenue was driven by expanded supply of key products. Sales of ball-type optical image stabilization (OIS) devices and encoders rose from a year earlier, while hybrid OIS continued to grow as supplies for new models expanded.
Proactive facility investments totaling about 100 billion won, made over the past five years or so with a focus on its production subsidiary in Vietnam, also helped strengthen production competitiveness. As mass production at new lines stabilized and production-process efficiency improved, productivity increased. The easing of fixed-cost burdens as supplies of key products rose also contributed to improved profitability.
Jaeyoung Solutec plans to continue strengthening the supply competitiveness of key products, including hybrid OIS. It aims to secure cost competitiveness by operating existing production lines reliably and improving production-process efficiency. It also plans to respond flexibly to changing demand in the smartphone market and further enhance its ability to supply new models.
“Growth in our performance is continuing as expanded supplies of key products combine with the effects of proactive facility investments and improvements in production efficiency that we have pursued,” a company official said. “We will continue to broaden the foundation for stable growth through ongoing technology development and stronger production competitiveness.”
[email protected] Choi Doo-seon Reporter