AP Systems said on Wednesday that it has recorded 591.8 billion won in sales and 46.2 billion won in operating income for the entire year of 2020.
It is a jump of 28% and 63%, respectively, from 2019. It is the company’s highest annual operating profit on record.
Improvement in produce mix for semiconductor equipment and cost control helped the company record an operating margin of 7.8% for the year, AP Systems said.
Its debt ratio have also declined for four straight years. In 2017, after its split listing on KOSDAQ, the debt ratio was 423%, but this declined to 295% in 2018 and 268% in 2019. In 2020, this declined even further to 168%.
AP Systems also announced cash dividends for shareholders worth 2 billion won and share buyback of 3 billion won. It will give 120 won per ordinary share and 480 won per preferred share. The dividends will be paid next month after the motion is approved at the shareholders’ meeting this month.
AP Systems CEO Kim Young-joo said the shareholders return program was decided to thank shareholders for their support which allowed the company to post record earnings in 2020 despite the pandemic.
The company’s display and semiconductor equipment businesses were continuing top grow, Kim said.