, 3Q Cumulative Sales Reach 393.5 Billion KRW... Steady External Growth Continues

Top Total Solution, an advanced parts ODM specialist in Automotive & Display led by CEO Park Young-geun, announced its preliminary Q3 earnings on the 13th.

According to the company's earnings report, cumulative sales for Q3 reached 393.5 billion KRW, a 7% increase compared to 367.6 billion KRW in the same period last year. Operating profit and net profit for the same period were 21.8 billion KRW and 17.3 billion KRW, respectively, representing a 4% decrease and a 14% increase compared to 22.8 billion KRW and 15.2 billion KRW in the previous year.

Quarterly sales for Q3 were 138 billion KRW, up 10% from 125 billion KRW in the same quarter last year. Operating profit and net profit for the quarter were both 6.9 billion KRW, down 22% and 29% respectively from 8.8 billion KRW and 9.7 billion KRW in the previous year.

Regarding the decline in quarterly profits, a company representative explained, “The decrease in profits was due to temporary increases in R&D personnel recruitment, ongoing research and development expenses, and various costs related to the company’s listing, all aimed at laying the foundation for future growth.”

Although profits declined temporarily due to these factors, quarterly sales continued to grow steadily, demonstrating solid external growth. The main drivers behind this robust growth were the increase in orders for the company’s core businesses, BLU and HUD, and improvements in operational efficiency.

The company operates in the IT parts business sector, which is widely used in daily life products such as automotive electronics, smartphones, and TVs, based on its display backlight design and manufacturing technology. Leveraging its strong ODM capabilities, the company continues to expand its business areas. Notably, orders for BLU and HUD, key components in the automotive sector, surged explosively by 26% and 195% respectively compared to the same period last year, driving the company’s solid earnings growth.

Additionally, the company enhanced operational efficiency by selling its washing machine parts divisions in its Guangzhou, China subsidiary and Vietnam subsidiary. After the divestiture, the company has maximized operational efficiency centered on its main production bases in the Vietnam subsidiary, domestic headquarters, and the Pangyo R&D center, maintaining stable growth and contributing to strengthening long-term business competitiveness.

Park Young-geun, CEO of Top Total Solution, stated, “Although profits slightly decreased this quarter due to short-term cost increases and one-time factors, the company continues its solid growth through sustained sales growth and increased orders for core components. Moving forward, we plan to further solidify our position in the global market by focusing on strengthening long-term competitiveness through efficient operations and R&D investment.”