RF Tech, 1Q 'Earnings Surprise'... Operating Profit Up 490% YoY

[Asia Economy Reporter Hyunseok Yoo] RF Tech announced on the 13th that its consolidated sales for the first quarter of this year reached 82.3 billion KRW, up 22.6% compared to the same period last year, and operating profit soared 490% to 2.4 billion KRW. Net profit for the same period recorded 11.6 billion KRW.

An RF Tech official stated, “While sales in the mobile components business remained steady in the first quarter, sales more than doubled year-on-year in the 5G antenna business and the HA filler business of our subsidiary RF Bio, driving the improvement in performance,” adding, “With the resumption of 5G infrastructure investment domestically and overseas this year and the full-scale construction of the subsidiary’s new botulinum toxin and filler factories, we expect the upward trend in performance to continue.”

He continued, “On the 23rd of last month, all conversion rights for the remaining convertible bonds issued by the company were exercised, eliminating the risk of stock price decline,” adding, “This improves the financial structure as capital increases without cash outflow.”