Vatech Reports Full Year 2021 Financial Results
Vatech, a global leader in the dental imaging market, has reported its 4Q 2021 and yearly fiscal results.
The annual revenue increased 38.7% to 338.98bn KRW in comparison to the previous year and 109.5% increased to 66.19bn KRW in operating profits compared to Q4 of 2020 with 74.75bn KRW of profit before income tax and 61.43bn KRW of net income.
Compared to 2019 before COVID-19, revenue, operating profit and net income increased 24.8%, 54.5%, and 72.6%, respectively.
The Q4 revenue of 2021 achieved an outstanding result with 95.83bn KRW. The company exceeded 90bn KRW in quarterly revenue and 300bn KRW of annual revenue for the first time. It is the largest in all quarters for the first time since its foundation.
Vatech's dental CT, digital 2D panorama, oral sensors, and carbon nanotube-based X-ray generator showed an increase as well in all continents, including North America (26.0%), Europe (27.9%), and Asia (25.9%) alike etc.
The company aims to strengthen its market dominance in both fields, including video equipment and new businesses. By releasing entry-level CT ‘Vatech A9’ and premium CT ‘Green X’ sequentially by country for preoccupying price-sensitive emerging markets and seize niche demand in advanced medical markets.