JUSUNG ENGINEERING (036930) Q2 2025 earnings summary

Executive summary

• Revenue for the half-year ended June 2025 was KRW 199.6 billion, up 29.7% year-over-year, driven by strong semiconductor equipment sales.

• Operating income was KRW 40.5 billion, down 6.1% year-over-year due to increased R&D investment.

• Net income was KRW 32.8 billion, a 33.4% decrease year-over-year, with a net margin of 16.4%.

• Gross margin for the period was 57.4%, reflecting robust profitability despite higher costs.

Financial highlights

• Total assets at June 2025 were KRW 880.4 billion; equity attributable to owners was KRW 585.7 billion.

• Cash and cash equivalents stood at KRW 178.2 billion, down from KRW 250.7 billion at year-end 2024.

• Inventory decreased to KRW 58.3 billion from KRW 100.6 billion at year-end 2024.

• D/E ratio improved to 0.50x; current ratio remained strong.

• R&D expenses were KRW 54.9 billion, representing 27.5% of sales.

Outlook and guidance

• Management expects continued growth in semiconductor and display equipment demand, supported by global AI and high-performance computing trends.

• Ongoing investments in R&D and new facility expansion are expected to enhance future competitiveness.

• The company is targeting further market share gains in ALD equipment and next-generation solar cell technology.