ISTE, recently listed on the KOSDAQ market, is showing strong performance. The news that its sales in the fourth quarter of last year increased by 233% year-on-year and that it successfully turned its operating profit positive appears to be influencing the stock price.
As of 1:39 PM on the 17th, ISTE is trading at 19,700 KRW, up 16.36% from the previous trading day.
Semiconductor equipment company ISTE announced that it achieved sales of 13.2 billion KRW and an operating profit of 150 million KRW in the fourth quarter of last year. Sales increased by 233% compared to the same period last year, and operating profit turned positive. Last year's sales reached 41 billion KRW, a 51% increase year-on-year. Operating profit turned positive at 750 million KRW.
Through its securities registration statement, ISTE presented a neutral performance scenario projecting this year's expected sales at 70.6 billion KRW. Operating profit is forecasted to reach 10.5 billion KRW. The main product, FOUP cleaner, is expected to achieve sales of 34.8 billion KRW this year, representing a 168% growth compared to the previous year. Approximately 30% or more of this is expected to be sold to its major customer, SK Hynix.
Earlier, ISTE secured a new customer last month, a global semiconductor back-end (OSAT) specialist company. Following the signing of a supply contract with this company last month, ISTE plans to supply semiconductor equipment in the second half of this year.
Typically, semiconductor equipment company customers are limited to integrated device manufacturers (IDM) or foundry companies, but ISTE has a diverse customer base including wafer manufacturers, PLP (Panel Level Package) manufacturers, and HBM manufacturers. The company explained that by expanding its customer base to include packaging test (OSAT) companies in the semiconductor back-end through securing orders, it expects to strengthen its position in the semiconductor industry.
An ISTE representative stated, "Based on our unique technological capabilities, we are actively responding to the demands of new customers," adding, "Following the supply of new FOUP cleaner equipment specialized for HBM last year, we have secured repeat orders." They further noted, "Inquiries about equipment from PLP companies are also increasing," and "The expansion of the product lineup for glass substrate-based PLP is progressing steadily."
They continued, "At CES recently held in Las Vegas, USA, there was significant interest in the HBM market," and said, "Since the glass substrate-based semiconductor market is expected to progress faster than previously anticipated, we foresee accelerating the expansion of ISTE's FOUP cleaner."
ISTE has experience in developing and supplying equipment capable of cleaning FOUPs for 600mm PLP (Panel Level Packaging). They explained that FOUP cleaning for back-end processes using glass substrates is possible.
From the 21st to the 24th of last month, ISTE conducted a demand forecast targeting domestic and international institutional investors. The public offering price was set at 11,400 KRW, the upper limit of the desired range of 9,700 to 11,400 KRW.
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