[Asia Economy Reporter Hyunseok Yoo] NCN announced on the 6th that it recorded consolidated sales of 25.1 billion KRW and separate sales of 22.6 billion KRW in the third quarter, marking the highest quarterly sales in the company's history on both consolidated and separate bases.
On a separate basis, operating profit reached 1.6 billion KRW and net profit 900 million KRW, showing an increase in profits. On a consolidated basis, losses continued due to increased R&D investments by subsidiaries. However, the company explained that clear signs of overall performance improvement due to the general increase in sales are evident.
A company official stated, “Domestic sales have been on the rise as we secured additional domestic black box clients, and the export volume to Japan, which started in August, exceeded expectations, significantly impacting sales growth.” He added, “Furthermore, the recovery in video security semiconductor sales and the full-scale start of vehicle semiconductor sales by our subsidiary Nextchip contributed to breaking records.”
Nextchip recorded sales of 3.6 billion KRW in the third quarter alone as sales to the domestic automotive electronics market increased significantly. CEO Kyungsoo Kim said, “I am relieved to have kept the promise that performance would improve from the second half of the year,” and added, “We will continue this momentum into the fourth quarter and strive to safely achieve the highest annual sales in history.”
Meanwhile, in addition to the recent large-scale fundraising by NCN and Nextchip, the company secured stable funds by deciding to dispose of real estate worth 6.9 billion KRW by NCN and 3.5 billion KRW by NCBIT. Based on this, the company expects to be able to invest more aggressively in R&D for the future.
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