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.