Pinetek, H1 Sales 32.3 Billion KRW Up 40% YoY

FineTec continues to achieve double-digit sales growth, driven by an expansion in orders for organic light-emitting diode (OLED) manufacturing equipment.

FineTec announced on the 12th that its consolidated sales for the first half of the year reached 32.3 billion KRW. This represents a 39.8% increase compared to the same period last year and accounts for 71% of last year's total sales.

During the same period, operating profit and net profit each amounted to 1.6 billion KRW, marking a second consecutive quarter of profitability.

The growth trend is also prominent on a quarterly basis. Second-quarter sales grew 54.5% year-over-year to 17.3 billion KRW. Operating profit and net profit were 400 million KRW and 600 million KRW respectively, achieving a turnaround in quarterly performance.

This performance growth is attributed to the expansion of orders for OLED manufacturing equipment. Sales from the OLED manufacturing equipment business reached 13.3 billion KRW in the first half, already surpassing last year's sales of 12.2 billion KRW. Profitability in the OLED manufacturing equipment division also improved significantly, turning from a 5.2 billion KRW loss last year to profitability.

The outlook for the second half remains positive. Orders for OLED manufacturing equipment announced in July alone amounted to 20.7 billion KRW, and as of July, the order backlog stood at 27.7 billion KRW, approximately six times higher than the same period last year. Additionally, with expected additional orders for secondary battery manufacturing equipment starting in the second half, the future business of the secondary battery sector is also expected to settle on a growth trajectory.