Seoul Viosys Reports Revenue Growth with Strong Demand in UV LED

Seoul Viosys, the subsidiary of Seoul Semiconductor, announced its financial results for the first quarter of 2020. The company registered a consolidated revenue of KRW 87 billion (US$ 71.17 million), which increased by 10% YoY.

Seoul Viosys has reported boosting inquiries for its UV LED products “Violeds” for disinfection applications as the coronavirus outbreak stimulated the awareness of consumers for ‘Clean Technologies.’ As a result, despite that sales of visible LEDs declined, Seoul Viosys still reported a double-digit overall growth in 1Q20. The company’s EBITDA margin was 19.2% and it R&D spending and selling and administrative expenses were also significantly reduced by 32% and 15% YoY respectively, driven by continuous cost reduction.

(Image: Seoul Viosys)

Seoul Viosys expects the increased demand in Europe and the U.S. for Violeds, a technology owned by Seoul Viosys and SETi (Sensor Electronic Technology, Inc.) proven to sterilize 99.9% of COVID-19 within 30 seconds, will continue to drive sales growth even after the second quarter.

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