UNISEM (036200) Q3 2024 earnings summary

Executive summary

• Specializes in semiconductor and display equipment, with leading market share in gas scrubbers (45%+) and chillers (30%+).

• Main customers include major semiconductor manufacturers, with top two clients accounting for over 70% of sales.

• Maintains robust R&D, focusing on eco-friendly and high-efficiency equipment.

Financial highlights

• 2024 Q3 consolidated revenue: ₩156.6B, down from ₩232.1B year-over-year.

• Operating income: ₩7.2B, net income: ₩9.1B, both significantly lower than prior year (₩17.4B net income in 2023 Q3).

• Gross margin: 12.1% (₩18.9B gross profit on ₩156.6B sales).

• Basic EPS: ₩308, compared to ₩583 in 2023 Q3.

• Cash and equivalents: ₩46.1B; total assets: ₩252.1B; equity ratio remains strong at 87.8%.

Outlook and guidance

• Global semiconductor market expected to grow 13.1% in 2024, but domestic equipment investment remains cautious.

• Company aims to expand market share through R&D and cost competitiveness, focusing on eco-friendly solutions.