MOBESE Electronics Expands Automotive Parts, Operating Profit Increases 7-Fold... "Will Accelerate Entry into the 1 Trillion Won Club"

Operating Profit of 8.4 Billion KRW in Q1... 616% Increase YoY
Strong Performance Continues After Record High Sales Last Year

Mobase Electronics, a specialized manufacturer of automotive electronic components, announced on the 15th that it recorded consolidated sales of 230.5 billion KRW and an operating profit of 8.4 billion KRW in the first quarter of this year. These figures represent increases of 13.5% and 616.0% respectively compared to the same period last year. The company also turned a profit with a net income of 5.1 billion KRW.

Mobase Electronics recorded sales of 922.2 billion KRW last year, marking the largest scale in its history. With continued profit improvement compared to the same period last year in the first quarter of this year, the company expects to maintain a solid growth trend.

Mobase Electronics explained that the improved performance of finished car manufacturers such as Hyundai Motor and Kia, along with the resolution of semiconductor supply issues, led to an increase in sales volume of electronic components, driving performance improvement. Recently, due to the premiumization of automotive specifications, demand for high value-added products such as touch displays and handwriting recognition devices has increased, resulting in a significant rise in operating profit.

A representative from Mobase Electronics stated, "As a result of our efforts to develop and expand the adoption rate of high value-added products such as touch displays and handwriting recognition devices, we were able to achieve high-profit results." They added, "We plan to focus on developing high value-added electronic components to improve profitability," and "We will strive to increase overseas customers and boost global electric vehicle-related sales to accelerate the achievement of the '1 Trillion KRW Club' milestone."