Image credit: Vatech booth, IDEM 2018, Vatech News
On November 13th, Vatech published its financial results for Q3 2020. These show that sales continued to contract during the quarter, although sales activity showed signs of recovery relative to the second quarter. Total sales reached ₩63.7 bn, compared with ₩65.0 bn in Q3 2019, a decrease of approximately -2% year-on-year. This took cumulative 2020 sales to ₩165.2 bn, compared with ₩195.3 bn in 2019, a decrease of approximately -15% year-on-year. It’s worthwhile highlighting that the 2019 sales figures are a tougher comparable due to explosive sales growth during the prior year and that cumulative 2020 sales remain approximately +1% higher relative to 2018.