[Public Notice+] Global SM Reports Operating Profit of 5.9 Billion KRW Last Year... "Strong Performance from Spain and Vietnam Subsidiaries"

[Asia Economy Reporter Hyunseok Yoo] Global SM, a fastener specialist company, announced on the 11th that its operating profit on a consolidated basis last year recorded 5.9 billion KRW, a significant increase compared to the previous year. During the same period, net profit increased by 870% year-on-year to 3.4 billion KRW, and sales rose by 5.6% year-on-year to 109.3 billion KRW.

A Global SM official stated, “Profit margins greatly increased as the performance of our subsidiaries in Spain, Vietnam, and Malaysia improved, along with internal cost reductions,” adding, “This year as well, sales are increasing mainly through our Spain and Vietnam subsidiaries, and we will strive to improve overall profitability.”

Last year, as the supply of 5G smartphone components increased, sales related to Huawei recorded 2.8 million USD (approximately 3.4 billion KRW). The supply of related components, including new parts for 5G smartphones, is expected to increase this year as well.

Global SM is a global fastener specialist company for electronic devices and vehicles with bases in Spain, Vietnam, Romania, Malaysia, and China. It supplies products to local global companies in each region. The Spain and Vietnam subsidiaries account for more than 60% of total sales.

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