TopRunTotalSolution, Last Year's Sales 520.2 Billion Won... "Maintaining Growth Trend"

Toprun Total Solution announced its provisional performance for 2024 through a preliminary earnings disclosure on the 14th.

Toprun Total Solution's sales for 2024 reached 520.2 billion KRW, marking a 1.2% increase compared to the previous year, maintaining a continuous growth trend.

The growth in sales was primarily driven by the ongoing expansion of the automotive display market and trends toward larger and more premium products.

As the premiumization of vehicle interiors accelerates, demand for high-performance displays surged. Consequently, the price increase of high value-added products positively contributed to improved performance.

In this market environment, the company's BLU (Back Light Unit) segment saw a 23% increase compared to the previous year, while the IVI (In-Vehicle Infotainment) and HUD (Head-Up Display) segments each grew by 14%, driving overall sales growth.

During the same period, operating profit and net profit were 26.1 billion KRW and 17.9 billion KRW respectively, decreasing by 12% and 21% compared to the previous year. A company representative explained, “Selling and administrative expenses increased due to expanded R&D personnel for new product development, and manufacturing costs rose due to global inflation. Additionally, a decline in TV product shipment volume affected profitability.”

He added, “The company plans to improve profitability by enhancing internal productivity and strengthening purchasing competitiveness to reduce costs, while expanding the proportion of high value-added products. We are optimizing manufacturing costs by leveraging our global production network and establishing a system that can flexibly respond to geopolitical risks.”

The company aims not only to improve profitability through cost reduction but also to make 2025 a year of substantial external growth by promoting new businesses. It plans to actively enter high value-added new businesses such as the automotive display modular business and OLED display inspection and compensation equipment business, diversifying its business portfolio and expanding a stable sales base.

CEO Park Young-geun emphasized, “2024 was a year of simultaneously preparing for external growth and strengthening internal capabilities. Going forward, the company will achieve both external growth and profitability improvement through the full-scale expansion of various high value-added new businesses.”