Andyforce Surpasses Separate Operating Profit of 10 Billion KRW... "Will Continue Stair-Step Performance Growth"

[Asia Economy Reporter Hyungsoo Park] AndyForce exceeded market expectations in operating profit last year.

AndyForce announced on the 13th that its separate basis operating profit last year increased by 33.8% to 10.82 billion KRW. During the same period, sales rose 28.7% to 56.93 billion KRW. Net profit turned positive at 1.82 billion KRW.

Consolidated results also improved. Sales reached 84.12 billion KRW and operating profit was 8.64 billion KRW. Sales increased by 76.1% year-on-year, and operating profit grew by 9.1%.

AndyForce explained that this was the result of successfully diversifying its customer base centered on major smartphone manufacturers such as Samsung Electronics and Apple. It secured new customers including Huawei and other Chinese companies. Due to the impact of the US-China trade dispute, shipments to Huawei and Chinese mobile manufacturers increased. The quality of waterproof film products for mobile devices improved, gaining customer trust. Cost reduction of products secured competitiveness, leading to successful sales diversification.

A company official stated, “This year, thanks to expanded orders to China in existing businesses and high operating profit margins, we achieved triple-digit operating profit on a separate basis. Combined with new business results such as the 5G antenna parts business and new drug development business, we recorded the highest sales ever.”

He added, “As major domestic and international mobile companies are launching new products, we expect both sales and operating profit to grow by more than 30%.”

He further noted, “The 5G antenna parts business and new drug development business, which are being promoted as new growth engines, are also showing concrete results, making stepped performance growth possible.”

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