Benefiting from automotive lighting and IT business, Seoul semiconductor 1Q18 revenue is over 1 billion 600 million

A few days ago, LED Seoul Semiconductor Co Ltd, a South Korean manufacturer of LED, announced the first quarter of 2018 revenue. Although the first quarter was often off season, the revenue of Seoul semiconductor grew to 283 billion won (about 1 billion 670 million RMB), mainly due to the two digit growth of general lighting (especially the car lighting segment market and all applications), while the IT business grew with a higher unit.

As Seoul semiconductors have diversified customer portfolios in China, the United States and the EU, car lighting sales in Seoul semiconductors are still two digit growth compared to the same period, despite the difficulties faced by a Korean car customer in this quarter.

The operating profit margin is 6.1%, influenced by a variety of factors, such as the strong exchange rate of the Korean dollar against the dollar, the seasonal decline in use rate, and the increase in the cost of the new production plant in Vietnam (usually in the establishment of a new production base). In the next quarter, it is expected that its manufacturing plant in the United States will increase its utilization and increase profits.

The rate of profit (EBITDA) before tax interest depreciation and amortization was 16.3%, and the EBITDA rate of 12 months in a row was 18.3%, which continued to show good cash appreciation ability.

Sang bum Kim, the chief financial officer, said Seoul semiconductor will still be able to achieve revenue growth in this quarter despite seasonal demand, and this trend is expected to continue over the rest of the year because the sales of SunLike, WICOP and Acrich series of differential products are higher than the new Vietnam factory. The utilization rate will be increased once it is started.

Seoul semiconductor expects revenue of 2800-3000 billion won (about 1 billion 650 million yuan -17.7 billion yuan) in the second quarter of 2018. (compiled: LEDinside James)

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