Pharmicell set a record for its biggest quarterly results in the first quarter this year, buoyed by growth in the artificial intelligence (AI) industry.
Pharmicell said on the 12th that it posted first-quarter consolidation sales of 36.7 billion won and operating profit of 13.0 billion won. The figures rose 36% and 56%, respectively, from a year earlier.
It also surpassed the previous record set in the fourth quarter of last year (sales of 34.6 billion won and operating profit of 9.6 billion won). Compared with the previous quarter, sales rose 6% and operating profit 35%, marking record results for two consecutive quarters.
Growth was led by the low-dielectric electronic materials business. The biochemicals division, which produces related products, recorded first-quarter sales of 36.0 billion won, accounting for 98% of total sales.
In particular, sales of low-dielectric electronic materials used in AI accelerators, 5G network equipment, and base station antennas totaled 26.0 billion won. That was 71% of total sales and up 57% from the same period a year earlier (16.6 billion won). The company said higher demand for high-performance electronic materials driven by the expansion of the AI industry was the key driver of the improved results.
The biomedical division also continued to grow. Backed by rising demand for stem cell therapies and growth in the cosmetics business based on stem cell culture media, sales increased 16% from a year earlier.
The low-dielectric electronic materials market is considered a field with high entry barriers because it requires highly precise manufacturing technologies and strict quality standards. Pharmicell plans to continue benefiting from the growth of the AI industry based on its accumulated technological expertise and quality competitiveness.
A Pharmicell official said, "The increase in demand for low-dielectric electronic materials for advanced equipment such as AI accelerators led to the biggest quarterly results ever," and added, "We will expand production capacity and strengthen our foundation for sustained growth through Ulsan Plant 3, which is scheduled for completion in the second half."