Seoul Viosys, a leader in advanced LED technology, operates across six business sectors: Micro LED, UV LED, VCSEL, IT products backlighting, automotive applications, and general lighting. These products are all based on its core WICOP wireless packaging technology.

Q3 2024 Financial Results
In Q3 2024, Seoul Viosys reported sales of $1.43 billion USD, marking a 44.8% year-on-year growth. However, there was a slight 2.1% quarter-on-quarter decline. Cumulative sales for the year reached $4.04 billion USD, a 3% increase compared to the same period last year.

After returning to profitability in Q2 2024, Seoul Viosys continued to show growth. The company’s operating profit margin for Q3 was 2.8%, an increase of 18.4 percentage points compared to last year. However, it decreased 0.5 percentage points quarter on quarter. The adjusted EBITDA margin was 13.7%, reflecting a 14.5 percentage point increase year-on-year, although it slightly decreased by 0.4 percentage points compared to Q2.

Profitability and Gross Margin
Seoul Viosys has seen a continuous increase in its gross profit margin since Q4 2023. For Q3 2024, the company reported a gross profit of $248 million USD with a gross margin of 17.4%, representing a 12.4 percentage point increase year-on-year, and a 0.5 percentage point increase compared to Q2 2024.

Research and Development Investments
In terms of R&D expenditure, Seoul Viosys maintained its strategy of optimization. For Q3 2024, the company allocated $93 million USD to R&D, accounting for 6.5% of its revenue, a slight decrease in proportion compared to previous periods.


Outlook for Q4 2024
Looking ahead to Q4 2024, Seoul Viosys anticipates a slight drop in sales due to seasonal factors and the uncertainty of long-term industry demand. The company forecasts sales to range between $1.24 billion USD and $1.32 billion USD.

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