Korea Computer (054040) Q3 2025 earnings summary

Executive summary

• The company operates primarily in the EMS (Electronics Manufacturing Service) sector, producing OLED PBA for smartphones/tablets, QD-OLED PBA for TVs/monitors, and industrial inverters, with major customers including Samsung Display and Young Poong Electronics Vina.

• The business model emphasizes total manufacturing solutions, leveraging advanced SMT and assembly technologies, and maintains a significant presence in both domestic and overseas markets, especially Vietnam.

Financial highlights

• Consolidated revenue for the nine months ended September 30, 2025, was KRW 298.7 billion, down from KRW 421.0 billion year-over-year.

• Operating income was KRW 12.6 billion, nearly flat compared to KRW 12.2 billion in the prior year, while net income declined to KRW 10.3 billion from KRW 13.6 billion.

• Gross margin improved slightly, with cost of sales at KRW 278.8 billion versus KRW 295.8 billion year-over-year.

• Basic EPS for the period was KRW 780, down from KRW 749 in the previous year.

Outlook and guidance

• The company continues to invest in high-value SMT and COG/FCOF facilities to support growth in mobile and large-format display modules.

• Expansion in QD-OLED and OLED PBA production is expected to drive future sales, with ongoing R&D focused on new process automation and quality improvements.