Pinetek Achieves Cumulative Q3 Sales of 58.3 Billion Won... "Surpassing Last Year's Annual Sales in Just Three Quarters"
FineTec, a specialized company in OLED and secondary battery equipment (CEO Kang Won-il), announced on the 11th that it achieved consolidated sales of 26.1 billion KRW, operating profit of 1.2 billion KRW, and net profit of 1.1 billion KRW in the third quarter of this year.
FineTec's sales in the third quarter of this year grew by 115.8% compared to the same period last year, and the operating profit and net profit, which recorded losses in the third quarter of last year, successfully turned to profit.
For the cumulative third quarter, consolidated sales reached 58.36 billion KRW, achieving a growth rate of 65.7% compared to the previous year, and operating profit reached 2.85 billion KRW. Notably, this is an excellent performance that exceeded last year's annual sales of 44.76 billion KRW in just three quarters, continuing a three-quarter streak of operating profit gains.
This strong performance of FineTec is due to the balanced growth of its business portfolio, which consists of various parts divisions and equipment divisions. FineTec signed a supply contract for secondary battery manufacturing equipment in 2023, and in 2024, it announced that it signed multiple OLED manufacturing equipment supply contracts with Samsung Display. The company stated that based on these diverse orders, both the parts division and equipment division showed solid growth in 2024, and all business divisions achieved profitability.
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A FineTec representative said, “Thanks to the expansion of front-end investment in OLED equipment and favorable performance across all business divisions, we were able to maintain a continuous profit trend, and additional orders are expected in the equipment sector.” He added, “Through relentless R&D and successful pioneering of new business areas, we will grow sales and operating profit and increase distributable profits to enhance shareholder value.”
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