EO Technics CEO Sung Kyu-dong said on Friday that the uptick in the global semiconductor and printed circuit board (PCB) markets will help the company’s growth in 2021.
The increase demand for chips will continue to help the company’s growth, the CEO said at its shareholders’ meeting.
EO Technics was also expecting increased profitability from its newly developed products and continued supply of its previous equipment, Sung said.
The global semiconductor and PCB related to semiconductor packaging market is expected to grow this year, while the display market is expected to contract.
Fab equipment accounted for 45% of EO Technics’ sales last year, while those for display and PCB accounted for 25% and 10%, respectively.
Sung said the company, despite falling short of shareholders’ expectations, recorded meaningful growth in 2020. EO Technics posted 325.1 billion won in sales and 38.4 billion won in operating income last year, an increase of 57.5% and 442%, respectively, from 2019.
However, it fell short of South Korean analysts’ forecast of sales between mid-300 billion won to 400 billion won. The CEO apologized for the less-than-expected sales.
Sung said sales from semiconductor laser marker showed steady sales growth throughout the year, while the company begin to garner sales from laser annealing equipment. Sales from other equipment, which contracted in the first half of 2020, recovered in the second half, the CEO said.
EO Technics said in its business report published at the shareholders’ meeting that it had a 95% market share in laser marker in South Korea and 60% abroad. However, the company stressed that the share figures were an estimated.