Kec (092220) Q2 2025 earnings summary

Executive summary

• Specializes in non-memory power semiconductors, supplying major domestic and global electronics and automotive firms, with a growing export focus on China, Japan, and the US.

• Operates 11 overseas subsidiaries and sales networks, with consolidated sales of KRW 123.4 billion for H1 2025.

• Maintains strong R&D capabilities, holding 122 intellectual property rights and investing 2.4% of sales in R&D.

Financial highlights

• H1 2025 consolidated revenue: KRW 123.4 billion, down from KRW 243.2 billion in H1 2024.

• Operating loss: KRW -8.2 billion (H1 2024: -13.3 billion); net loss: KRW -6.0 billion (H1 2024: -11.0 billion).

• Cash and cash equivalents at period end: KRW 12.2 billion (down from KRW 30.6 billion at 2024 year-end).

• Total assets: KRW 449.4 billion; total equity: KRW 339.4 billion.

Outlook and guidance

• Global semiconductor market expected to grow 12.7% in 2025, with SSTR segment rebounding by 1.7% after a decline in 2024.

• Company aims to expand in automotive semiconductors and maintain R&D investment for product innovation.