Samhwa Paint Reports Operating Profit of 11.2 Billion KRW Last Year... "Cost Reduction Effect"

[Asia Economy Reporter Kim Daeseop] Samhwa Paint Industrial announced on the 22nd that its sales reached 540.3 billion KRW last year due to increased paint sales.

According to last year's consolidated financial statements, sales increased by 3.1% compared to the previous year, and operating profit rose by 42.7% to 11.2 billion KRW. Net profit for the period was 3.9 billion KRW, an increase of 386.2% from the previous year.

Domestically, sales of specialized industrial paints such as powder and PCM (Pre-Coated Metal) color steel paints increased. Overseas, sales grew due to portfolio diversification and key items from local subsidiaries, including electronic material plastic paints and medium-solid paints. Efforts to reduce costs through alternative raw material development and efficient expense management also contributed to the increase in operating profit.

A representative from Samhwa Paint Industrial stated, "The acquisition of Daelim Chemical in 2018 has stabilized production and expanded profit margins," adding, "Sales of architectural paints, including floor and waterproofing materials, maintained a similar level to the previous year in new construction and repainting projects."

This content was produced with the assistance of AI translation services.