Half-Year Results Announced, Continuing Recovery with Operating Profit Up 81.2% Year Over Year
2024-08-05
- Continued recovery with revenue up 8.1% and operating income up 81.2% year-over-year in the first half of the year
- Plans to strengthen supply chain for high-value medical imaging solution items in the second half of the year
- Completed 70 percent of the expansion of
Vieworks Hwaseong Plant, doubling production capacity upon completion
Vieworks, a leading provider of imaging
solution, announced today that it has begun a full-scale recovery in its
performance, achieving KRW 114.8 billion in sales and KRW 10.9 billion in
operating profit in the first half of the year, up 8.1% and 81.2% year-on-year.
Sales in the static x-ray detector segment
increased 26% year-on-year to KRW 52.5 billion in the first half of the year,
driven by the rapid growth of the flexible-TFT(Thin-film transistor) detector
VIVIX-S FW series. The company plans to reorganize its sales network by
focusing on artificial intelligence-based solutions with diagnostic aids and
noise reduction functions, as well as strengthening materials to realize
high-resolution images and lightweight.
In response to the rising demand for dental
treatment equipment worldwide, sales of dynamic x-ray detectors reached KRW
22.3 billion, a 28.9% increase in sales compared to the first half of the
previous year. The increase is attributed to the activation of the sales
channel established through the subsidiary following the signing of a supply contract
with Europe's largest dental equipment company. Vieworks is also accelerating
the development of new lineups, including high-speed dynamic detectors, in
response to the increasing demand for detectors for sophisticated dental CBCT(Cone-beam computed tomography).
In the second half of the year, Vieworks
will continue to expand its sales network in its core regions of the Americas
and Europe with the aim of strengthening the supply chain for medical imaging
solutions. To this end, Vieworks will participate in RSNA 2024 in Chicago this
December to announce the launch of new medical imaging solutions and strengthen
its global network.
Sales in the Other segment, which includes
bio-imaging solution equipment for preclinical experiments and detectors for
digital mammography, increased 15.6% from the first half of the previous year
to KRW 9.8 billion. In addition to participating in international conferences
in the second half of the year, the company is actively seeking customers
through on-site demonstrations at domestic medical institutions.
Meanwhile, the expansion of the production
facility at Vieworks' manufacturing facility in Hwaseong is also on track for
completion in the first quarter of 2025 and is currently approximately 70%
complete since groundbreaking last November. When the expansion is completed
early next year, it will double the production capacity of its flagship items
while creating space for mass production of new products.
"We are pledging our commitment to
continuous research and development, while increasing our export channels
through global marketing such as participation in large exhibitions, and
focusing on maximizing profitability and qualitative growth by diversifying our
lineup and actively targeting the market for high-value-added items," said
a Vieworks representative.
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