FINETEK Returns to Profitability in Q3 as Revenue Rises 68% Year on Year

FINETEK turned profitable in the third quarter of this year, driven by increased orders for display equipment. Its cumulative revenue also came close to last year's full-year figure, continuing its growth.

FINETEK said on November 12 that its consolidated operating profit for the third quarter of this year reached KRW 2.1 billion, marking a return to profitability. Revenue for the same period rose 68.1% year on year to KRW 24.6 billion. Revenue for the first three quarters totaled KRW 41.4 billion, approaching last year's full-year revenue of KRW 46.3 billion.

Results on a standalone basis also improved. Third-quarter revenue increased 71.9% year on year to KRW 23.6 billion, while operating profit reached KRW 2.8 billion, marking a return to profitability. Cumulative revenue rose 29.9% year on year to KRW 39.1 billion.

The improvement was driven by increased orders for display equipment. Over the four months starting in July, FINETEK secured orders worth approximately KRW 35.2 billion from Samsung Display. The company expects to continue growing in the fourth quarter as revenue from these orders begins to be fully recognized.

The company is also working to secure new growth drivers through new businesses. Drawing on the precision control technology it has developed in its display equipment business, FINETEK is expanding into the food tech sector.

Its in-house-developed cooking automation robot platform, BOGLE-C (BOGLE C), is a solution that automates the entire process, from ordering and automated cooking to operations management. The company is preparing to open its first brick-and-mortar store and plans to develop a range of food tech robots to help address labor shortages in the food service industry and improve operational efficiency.

A FINETEK representative said, "We are strengthening the foundation for mid- to long-term growth by accelerating the commercialization of new businesses, building on the stable profit structure of our display equipment business. We will work to enhance corporate value and, in turn, shareholder value by strengthening the competitiveness of each business while maintaining sound management and consistently delivering results."

This content was produced with the assistance of AI translation services.