Vatech said Monday it marked record sales and operating profit for the second consecutive year in 2018.
The company recorded 234.7 billion won ($209.5 million) in sales and 40.2 billion won in operating profits last year, recording a 7 percent and 3 percent increase, respectively, from 2017.
“We achieved positive results thanks to the expansion of sales of premium products and the success of new markets,” Vatech said. “Sales and operating profit improved further as sales of 3D diagnostic equipment, such as orthodontics and implants, increased.”
Notably, the sales of “Green CT,” a diagnostic device with a lower radiation dose compared to its competitors, helped increase the company’s sales. Sales for the equipment rose 53 percent in 2018.
Sales in Asia (excluding Korea) took the lion’s share with 26 percent, followed by North America’s 25 percent and Europe’s 23 percent.
Sales in China were also brisk aided by Green Smart, a 3D diagnostic device, totaling 30.3 billion won, showing a 61 percent increase over the period. The company expects to become the market leader for both the 2D and 3D dental X-ray market in China soon.
To sharpen its global competitiveness, the company said it also plans to launch the next-generation model for Green CT in the upcoming International Dental Show held in Germany in March.
“With overwhelming quality, service and innovative products, we seek to become the global leader in the dental X-ray market,” Vatech CEO Hyun Jeong-hoon said.