Cape, Operating Profit of 6.6 Billion KRW Last Year... 165% Increase YoY

[Asia Economy Reporter Eunmo Koo] Cape, a manufacturer and supplier of cylinder liners for ship engines, continued its growth driven by a rebound in the shipbuilding industry and increased sales from new clients.

Cape announced on the 9th that its operating profit on an individual basis reached 6.6 billion KRW last year, marking a 165% increase compared to the previous year. During the same period, sales and net profit also rose by 36% and 121%, reaching 39 billion KRW and 5.3 billion KRW, respectively.

Consolidated results also improved. Last year, consolidated sales amounted to 351.5 billion KRW, up 38% year-on-year, and operating profit increased by 15% to 16.6 billion KRW. Net profit also grew by 65% to 6.9 billion KRW.

The benefits from the shipbuilding industry's rebound translated into strong performance, and the company explained that global shipbuilding orders are expected to increase to 31.5 million CGT this year compared to last year. A Cape representative stated, “The cylinder liners for Win-GD’s DF engine (Dual-Fuel Engine) and MAN’s MEGI engine, which are installed in eco-friendly LNG-fueled ships, possess superior technology compared to competitors, securing a clear competitive advantage in the eco-friendly ship market.”

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