Kec (092220) Q1 2025 earnings summary

Executive summary

• Specializes in non-memory power semiconductors, with global operations and exports to China, Japan, and the US, supported by 11 overseas subsidiaries and sales networks.

• Q1 2025 consolidated revenue was KRW 63.6 billion, with a net loss of KRW 2.28 billion, continuing a trend of negative profitability.

• The company maintains a strong R&D focus, investing 2.2% of sales in Q1 2025, and holds 124 intellectual property rights.

Financial highlights

• Q1 2025 consolidated revenue: KRW 63.6 billion (down from KRW 243.2 billion FY2024).

• Operating loss: KRW 3.08 billion; net loss: KRW 2.28 billion.

• Cash and cash equivalents at Q1-end: KRW 16.1 billion, down from KRW 30.6 billion at FY2024-end.

• Total assets: KRW 452.1 billion; total equity: KRW 347.4 billion.

• Basic and diluted EPS: -11 KRW.

Outlook and guidance

• The global semiconductor market is forecast to grow 12.7% in 2025, but the company’s main SSTR market is expected to recover only slightly after a 9.9% decline in 2024.

• The company aims to expand in automotive semiconductors and maintain stable supply to major electronics and automotive clients.