[Public Notice+] Estrafic Reports 5 Billion KRW Operating Loss in Q1... "Expecting Momentum in Future Mobility Solutions"

[Asia Economy Reporter Kum Boryeong] Estrafic announced on the 15th that its consolidated operating loss for the first quarter of this year widened to 5 billion KRW compared to the previous year. During the same period, sales increased by 26.6% to 6.9 billion KRW.

The operating loss expanded due to investments in infrastructure development stemming from subsidiary businesses such as Seoul New Transportation Card and ST Electric Communication, as well as the early stages of overseas expansion. On the other hand, sales increased thanks to the normalization of past orders, including the Intelligent Transportation System (ITS) construction project in Medellin, Colombia.

Estrafic plans to pursue large-scale project orders such as private-sector deep tunnel projects. Additionally, through the recently proposed government Green New Deal policy, Estrafic expects its future transportation solution business, including smart cities and electric vehicle infrastructure, to gain momentum.

An Estrafic official stated, "Although the global economy has entered a slowdown period due to the COVID-19 pandemic, the demand for innovation in transportation infrastructure continues," adding, "We will proactively strengthen our competitiveness in transportation solutions and accelerate the development of new businesses by riding the newly emerging trend of future transportation."

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