[Click eStock] "Unisem, No.1 Domestic Scrubber Market Share"

Hana Securities evaluated Unisem on the 22nd as having the No. 1 domestic market share in scrubbers, with positive factors including the expansion of etching process applications by memory companies this year and increased sales to overseas customers.

Unisem is a specialized company in scrubbers, which are harmful gas treatment equipment generated during semiconductor and display production processes, and chillers, which are temperature control devices. It supplies equipment to leading domestic and international semiconductor and display companies such as Samsung Electronics, SK Hynix, LG Display, and BOE.

Researcher Kim Rok-ho of Hana Securities forecasted Unisem’s sales and operating profit for this year to be 247.3 billion KRW and 32.5 billion KRW, respectively, representing a 2.3% decrease and a 10.9% increase compared to the previous year. Kim said, “As the processes requiring scrubbers expand from mainly deposition processes to etching processes, gas usage has increased, leading to higher primary scrubber demand.”

He added, “Japanese memory semiconductor customers are expected to generate replacement demand as they prefer plasma-type scrubbers using electric torch heat over burn-type scrubbers that use high-temperature burners for direct combustion. Once the plasma-type scrubber tests currently underway are completed, an increase in market share within customer companies is anticipated,” he analyzed.

Furthermore, he noted, “Due to investments by Chinese display companies, demand for scrubber and chiller equipment is increasing, so sales to Chinese display customers are also expected to grow.”

Unisem’s main product, the scrubber, sees an increase in order volume with each advancement in miniaturization and complexity, and maintenance revenue is generated even after new installations. In this regard, researcher Kim explained, “The recovery of capital investment in the upstream industry, including the 300 trillion KRW investment benefit from Samsung Electronics’ Yongin cluster construction, will drive a performance turnaround,” adding, “2024 looks even more promising.”