TES Co (095610) Q2 2025 earnings summary

Executive summary

• Specializes in manufacturing semiconductor equipment, with over 95% of revenue from this segment.

• Main products include PECVD and Gas Phase Etch & Cleaning equipment, with additional offerings for display and UVC LED manufacturing.

• For the first half of 2025, consolidated revenue was KRW 166.6 billion, operating income KRW 36.6 billion, and net income KRW 34.8 billion.

• Domestic sales accounted for 72% and overseas for 28% of total sales.

Financial highlights

• Revenue for H1 2025: KRW 166.6 billion, down from KRW 240.1 billion in H1 2024.

• Operating income: KRW 36.6 billion (H1 2025) vs. KRW 38.5 billion (H1 2024).

• Net income: KRW 34.8 billion (H1 2025) vs. KRW 42.7 billion (H1 2024).

• Gross margin for H1 2025: 30.1%.

• Basic EPS for H1 2025: KRW 1,982.

• Cash and cash equivalents at period end: KRW 31.7 billion.

Outlook and guidance

• The company expects continued demand for semiconductor equipment, driven by AI, big data, and automotive sectors.

• Ongoing R&D investments and facility expansions are planned to support future growth.