Smart optical technology company IL Science (CEO Song Seong-geun) announced on the 14th that its Q2 performance was recorded at KRW 26.3 billion in sales and KRW 2.7 billion in operating profit.
Q2 sales increased by 170% year-on-year to KRW 26.3 billion, operating profit rose by 231% to KRW 2.7 billion, and net profit also increased by 191%, setting a record high. IL Science had already set a record high performance once in Q1.
In addition, the cumulative sales for the first half of this year reached KRW 46.4 billion, operating profit KRW 4.6 billion, and net profit KRW 5.7 billion, surpassing last year's total sales and profit levels. The company stated that this explosive growth since Q1 is the result of IL Group's business restructuring and new technology development.
An IL Science official said, “IL Group internally carried out business restructuring centered on IL Science last year to achieve mutual growth across the group. We have completed preparations to enable full-scale growth starting this year,” adding, “We achieved record-high performance in the first half through continuous investment in new technology development, which will be the foundation for future growth, and expansion of the mobility business.”
The first half management performance of IL Science was mainly driven by the significant growth of IL Mobility and Itronics. IL Mobility, recognized as a consolidated subsidiary from this year, has seen increases in sales and operating profit since Q1 through business restructuring and process improvements. Itronics, which operates the domestic highway Hi-Pass and parking lot Hi-Pass system construction business, has continued steady sales and profit growth following last year.
IL Science has succeeded in developing the world’s first next-generation technology for smart optical lenses, the ‘LED silicon lens,’ and is currently mass-producing it. It is expected to be sequentially applied to new models and facelift vehicles of domestic and overseas automakers. IL Mobility is responsible for injection production and molding of future vehicle lamps, while Itronics operates multi-lane Hi-Pass systems, smart tolling systems, and the next-generation intelligent transportation system C-ITS, maximizing synergy within the group.
IL Science CEO Song Seong-geun said, “IL Group is currently accelerating joint technology development with various domestic and international industry-academic cooperation groups centered on IL Science to prepare future growth engines and realize sustainable management,” adding, “As part of this, we have completed the development of all-solid-state battery technology applicable to various future industries and signed an agreement with Gachon University to transfer eight patents related to all-solid-state batteries. We have established an R&D center at Gachon University to conduct research and development on all-solid-state batteries and secondary batteries, and based on successful technology development, we expect to demonstrate continuous growth in the future.”
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