Powernet Achieves Record Q3 Results... Kicks Off Full-Scale Value Enhancement

Powernet announced on November 17 that it achieved record-high cumulative consolidated sales and operating profit for the third quarter of this year.

According to its disclosure, Powernet posted cumulative consolidated sales of 323.1 billion won and operating profit of 20.7 billion won for the third quarter of this year. These figures represent increases of 42.6% and 90.2%, respectively, compared to the same period last year, marking the highest cumulative results for the third quarter in the company's history. For the third quarter alone, sales were 100.5 billion won and operating profit was 6.7 billion won. While sales decreased by 7.1% compared to the same period last year (108.2 billion won), operating profit increased by 41.9% to 4.7 billion won.

On a separate basis, sales reached 189.2 billion won, showing a slight increase of 3.5% year-on-year despite the slump in the global home appliance market, and operating profit rose by 35% year-on-year to 15.5 billion won, maintaining solid growth.

A Powernet official stated, "Although the global economy is showing gradual recovery trends in some regions in the fourth quarter, major structural uncertainties have not been completely resolved. Therefore, we plan to continue our strategic focus on diversifying our sales channels while closely monitoring market volatility through the end of the year."

The official added, "Our primary goal this year is to maintain growth through orders for new large premium models, intensive nurturing of new business divisions, expansion of B2C product categories that began supply in October, and securing new clients. At the same time, we are strengthening our financial stability by improving our management structure with a focus on profitability, and based on this, we are preparing for a quantum jump in 2026."