iTEC Reports 83.3 Billion KRW in Sales Last Year... "This Year, Growth Accelerates Through New Businesses"

ITech, a semiconductor testing specialist company, announced on the 11th that its consolidated sales last year reached 83.3 billion KRW, an 8.6% increase compared to the same period the previous year. However, the profit structure showed an operating loss due to the semiconductor industry's downturn, derivative product valuation losses without cash outflow, and impairment losses on subsidiary's regular R&D expenses.

The company explained that despite recording an annual deficit due to the prolonged semiconductor industry recession, it succeeded in a turnaround from the fourth quarter through cost reduction, productivity improvement, and work efficiency enhancement.

An ITech representative said, “Despite the difficult market conditions, we secured production efficiency and price competitiveness by proactively expanding facility investments to respond to future demand. Based on advanced equipment, this year we plan to focus on acquiring overseas customers not only in Korea but also in the United States, Taiwan, and Japan.”

Meanwhile, last year ITech actively pursued mergers and acquisitions (M&A) of various growth companies to strengthen future competitiveness. As a result, it is expected that this year, in addition to the semiconductor business, the favorable performance of new businesses will contribute to improving ITech’s overall results.

Among ITech’s subsidiaries, ‘Samsung Medicos,’ which operates in the cosmetics business, is expected to achieve its highest sales this year. Samsung Medicos ranks fourth in Korea in terms of cosmetics OEM (Original Equipment Manufacturing) and ODM (Original Design Manufacturing) production capacity and has maintained annual growth since 2020. This year, the company is expected to achieve not only growth in scale but also profitability improvement through the launch of its own brand, ‘CureRest.’

‘Lead&,’ which provides integrated robot operation solutions, is developing an autonomous driving robot operating system (O/S) with a goal to launch within the year, and is applying industrial safety robots by expanding serious accident safety solutions to the market. ‘BA Energy,’ a specialist in secondary battery safety management solutions, has completed the establishment of its U.S. branch and is targeting the U.S. and European markets. Additionally, it is working to expand orders by increasing exports of battery safety boxes (BSB) for Volvo and Mercedes-Benz.

Furthermore, ‘NeoEnfra’ is expanding its graphene-based business by launching various products such as clothing and daily necessities using graphene materials.

An ITech representative stated, “Through the recovering semiconductor market and the growth of key subsidiaries, we will create visible results to make this year the first year of turnaround.”