Market Overview

Seoul Semiconductor Achieves 290 Billion KRW Revenues for Second Quarter 2018 and 45 Billion KRW in EBITDA

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  • Sales continued to grow YoY despite of low season
  • Provided guidance of 300 billion to 320 billion KRW range for the
    upcoming third-quarter

Seoul
Semiconductor Co., Ltd.
(KOSDAQ:046890), a market leader in LED
design and manufacturing, today announced consolidated second-quarter
revenues of 290 billion KRW meeting its guided range of 280 ~ 300
billion KRW. Operating income recorded 18 billion KRW and EBITDA
recorded 45 billion KRW.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180727005109/en/

Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a market leader in LED design and manufacturing, achi ...

Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a market leader in LED design and manufacturing, achieved 290 billion KRW revenues for second quarter 2018 and 45 billion KRW in EBITDA. Sales continued to grow YoY despite of low season and provided guidance of 300 billion to 320 billion KRW range for the upcoming third-quarter. (Graphic: Business Wire)

During the second-quarter, TV division sales rose significantly YoY and
is expected to maintain growth in the third-quarter. Mobile division
sales is also expected to rise significantly in the upcoming third and
fourth quarter leading to continued growth of sales for its IT division
maintaining its high growth rate since 2017.

Automotive lighting sales also showed strong growth across all regions.
The company's promotion of its package less WICOP for automotive
headlamp application gained further traction resulting in foreign car
makers adapting its technology for cars scheduled to be mass produced in
next year and in 2021.

Operating profit margin recorded 6% for the second-quarter. The company
expects ramp up from its new manufacturing plant in Vietnam to gain
further stability leading to higher utilization rate in the
third-quarter to meet high season demand and lead to improved
profitability.

Seoul provided sales guidance of 300 to 320 billion KRW for the upcoming
third-quarter maintaining its QoQ and YoY growth.

Sangbum Kim, Chief Financial Officer, has stated that the company was
able to achieve sales growth in this quarter despite of low seasonality
and this trend is expected to continue throughout the remainder of the
year as we witness sales of differentiated products such as the SunLike,
Wicop and Acrich lead to improved utilization and Vietnam plant
contribute to higher utilization once fully set up, once again
challenging to beat last year's record sales.

About Seoul Semiconductor

Seoul Semiconductor develops and commercializes LEDs for automotive,
general illumination, specialty lighting, and backlighting markets. As
the fourth-largest LED manufacturer globally, Seoul Semiconductor holds
more than 12,000 patents, offers a wide range of technologies, and mass
produces innovative LED products such as SunLike – delivering the
world's best light quality in a next-generation LED enabling
human-centric lighting optimized for circadian rhythms; WICOP – a
simpler structured package-free LED which provides market leading color
uniformity and cost savings at the fixture level, providing high lumen
density and design flexibility; NanoDriver Series – the world's smallest
24W DC LED drivers; Acrich, the world's first high-voltage AC-driven LED
technology developed in 2005, including all AC LED-related technologies
from chip to module and circuit fabrication, as well as multi-junction
technology (MJT); and nPola, a new LED product based on GaN-substrate
technology that achieves more than ten times the output of conventional
LEDs. UCD constitutes a high color gamut display which delivers more
than 90% NTSC. To learn more, visit www.seoulsemicon.com.

Forward-looking statements:

This press release material contains forward-looking statements which
reflect Seoul Semiconductor's current views with respect to future
events and financial performance, which are subject to certain risks and
uncertainties which could cause actual results to differ materially from
those anticipated. Although Seoul Semiconductor believes the
expectations reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that its expectations
will be attained. Seoul Semiconductor undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise. All financial
figures are consolidated unless stated otherwise.

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