JUSUNG ENGINEERING (036930) Q3 2024 earnings summary

Executive summary

• Achieved operating profit turnaround in Q2 2024, driven by semiconductor sector recovery and strong overseas sales, with operating profit of 361 billion KRW and margin of 37%.

• Q2 2024 revenue reached 97.3 billion KRW, up 207% year-over-year, with semiconductor business accounting for 98% of total sales.

• Achieved strong growth in Q3 2024, with consolidated revenue of ₩301.1 billion, up 61.5% year-over-year, driven by robust overseas semiconductor and display equipment sales.

• Operating profit surged to ₩95.3 billion in Q3 2024, a 958.9% increase year-over-year, with an operating margin of 31.7%.

• Net income reached ₩84.8 billion in Q3 2024, up 1,111.4% year-over-year, with a net margin of 28.2%.

Financial highlights

• Q2 2024 operating profit of 36.1 billion KRW, a 515% increase year-over-year, reversing prior losses.

• Q3 2024 consolidated revenue: ₩301.1 billion (Q3 2023: ₩186.4 billion).

• Q3 2024 operating profit: ₩95.3 billion (Q3 2023: ₩9.6 billion).

• R&D investment for Q2 2024 was 19.6 billion KRW, representing 27% of total costs.

• R&D expenses in Q3 2024: ₩58.9 billion, 19.6% of sales.

Outlook and guidance

• Positive outlook for H2 2024 as global semiconductor investment and new equipment orders accelerate.

• Anticipates continued demand for advanced ALD/CVD equipment in both memory and non-memory semiconductor applications.

• Expects further growth in display and solar cell equipment sales, leveraging new technologies and global market expansion.