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  • BOE, Tianma, TCL Report Strong Profits In 2021_03/27/22
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Doosan Solus Revenue in Q220 up 3% Y/Y

Doosan Solus (Doosan) supplies HTL, EIL and Advanced ETL materials to Samsung and other OLED panel makers.  Q220 revenues and operating incomes were $61.7M and $15.4M, respectively. Doosan expects to maintain its business with Samsung and sees increases in revenues as producers in China’s OLED manufacturing matures.  Total revenues of 2020 is projected at $276.3M, up 39% Y/Y from $218.3M in 2019. Operating income for 2020 are expected to be $38M, up 20% Y/Y from $31.7M in 2019. Apart from the OLED material business, Doosan’s PCB business will be another cash cow in 2021 because of increased demand for 5G and semiconductor applications. As a result, projected revenues for 2021 is $414M, up 50% from $276.3M in 2020 forecasted revenues.
 
Table 1: Doosan Solus 2020 Revenues and Operating Income Trends
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