[Announcement+] HL B Power, Four Consecutive Quarters of Profit... "Achieved 3.3 Billion KRW Operating Profit Last Year"

[Asia Economy Reporter Hyunseok Yoo] HL B Power announced on the 12th that its sales on a separate basis last year increased by 16% year-on-year to 32.4 billion KRW, and operating profit turned from a loss of 11 billion KRW to a profit of 3.3 billion KRW.

HL B Power achieved a historic highest operating performance in the first quarter of last year, turning profitable, and continued a consecutive quarterly increase in sales and profit streak. As a result, the company expects to be removed from the KOSDAQ management item list this year.

The background for HL B Power’s record-high performance is attributed to the steady increase in orders for scrubber sulfur oxide (SOx) dampers following the implementation of the IMO (International Maritime Organization) 2020 regulation. The company has independently developed and mass-produced SOx dampers, a core component of ship desulfurization equipment that reduces sulfur oxides (SOx), the main cause of marine environmental pollution, and holds the world’s number one market share.

Along with HL B Power’s improved performance, a notable point is the improvement in its financial structure. With improved cash flow from operating profit, the debt ratio decreased from 186% at the end of 2018 to 66%, positioning the company advantageously in various order competitions in power generation and power equipment business sectors.

In particular, the company explained that the large-scale convertible bonds invested over three years for financial structure improvement and new business development have all been extinguished, eliminating the overhang (large volume of pending shares) issue after three years. Lim Chang-yoon, CEO of HL B Power, said, “It took a full three years to acquire a struggling company, restructure the business, and secure long-term profitability,” adding, “We have completely rebuilt the company’s business structure and secured a long-term operating profit structure as a result.” He continued, “Now, based on this confidence, we will focus on current businesses and expand into business areas that can enhance the company’s future value, thereby firmly increasing shareholder value.”

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