UNISEM (036200) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was KRW 60.5 billion, up from KRW 55.2 billion in Q1 2024, with operating income of KRW 4.8 billion and net income of KRW 4.1 billion, reflecting stable profitability.

• The company maintains a strong market position in semiconductor equipment, with a 40% domestic share in gas scrubbers and 30% in chillers.

• Cash and cash equivalents decreased to KRW 27.1 billion from KRW 37.0 billion at year-end 2024, mainly due to increased inventory and working capital needs.

Financial highlights

• Gross margin for Q1 2025 was 21.7%, with operating margin at 7.9% and net margin at 6.8%.

• Total assets reached KRW 268.2 billion, with equity of KRW 230.1 billion and a low debt ratio of 16.5%.

• Inventory rose to KRW 57.3 billion, representing 21.4% of total assets.

• R&D expenses were KRW 3.0 billion, or 4.99% of sales.

Outlook and guidance

• The global semiconductor market is projected to grow 11.2% in 2025, with equipment investment expected to rise 17%.

• The company aims to expand its market share through continued R&D and cost competitiveness, focusing on high-value and eco-friendly equipment.