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Musing-Weekly Newsletter

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SFA Reports 2019 Revenue of $731.1m Down 47.8% Y/Y
May 10, 2020
 
Looking only at non-consolidated display revenue in Q120, SFA reported $141.4m, down 5.5%, Y/Y; due largely to COVID-19. Yuanta Securities projects that SFA could receive orders for $650M in 2020 for OLED display related process equipment such as laminators, automatic module handling systems, clean stockers and polarizer attaching systems. 
 
SFA Engineering Segmented Revenues in 2019:
 
  • OLED—51%
  • LCD -- 23% 
  • Non-display logistics -- 21%
  • Semiconductor -- 4%

Table 1. SFA Revenues, Gross Profit and Operating Income 2019 & 2020
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Source: Company, Yuanta Securities
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