​First-half revenue rises 31.5% to 325.8 billion won

Top Run Total Solution swung to an operating profit in the second quarter as sales of automotive display components increased and its cost structure improved.

​Top Run Total Solution reported second-quarter revenue of 178.8 billion won and an operating profit of 300 million won, the company said August 14. Revenue rose 47.8% from a year earlier to a quarterly record. The company swung to an operating profit from an operating loss of 700 million won a year earlier. First-half revenue rose 31.5% to 325.8 billion won.

​Top Run Total Solution said supplies of its main product, backlight units (BLUs), increased as the automotive industry shifts toward software-defined vehicles (SDVs) and in-vehicle displays become larger and more premium. Improvements in its cost structure through production automation and supply chain management (SCM) optimization also translated into operating leverage from higher sales.

​The company will also acquire LG Display’s Nanjing subsidiary’s automotive display module business through its Chinese Nanjing subsidiary. The planned completion date for the acquisition has been changed to Sept. 30 from July 30. Due diligence is currently under way.

​Finished module products have unit prices more than five times those of BLUs, and the company expects the acquisition to contribute to revenue growth and improved profitability after completion.

​“Automotive displays are continuing to grow larger and more premium,” a Top Run Total Solution official said. “We will complete a ‘one-roof’ production system covering everything from BLUs to finished modules and expand the improvement in profitability in the second half.”

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