Ohheim INT Announces 2020 Annual Results... Operating Profit Up 90%

[Asia Economy Reporter Kim Jong-hwa] Home furnishing specialized venture company Ohaim INT (CEO Seo Jeong-il) recorded sales of 27.8 billion KRW last year, a 44% increase compared to the previous year.

According to Ohaim INT on the 10th, sales in 2020 were 27.8 billion KRW, up 44% from 19.3 billion KRW the previous year, and operating profit increased 90% from 2.1 billion KRW to 4.1 billion KRW. Transaction volume rose 35% from 56.1 billion KRW to 75.6 billion KRW, and net profit for the year was 700 million KRW.

This reflects the inclusion of 2.3 billion KRW in merger costs due to the fair value increase caused by stock price fluctuations of Samsung Must SPAC No.3, the merger target at the time of last year's KOSDAQ listing.

Ohaim merged with Samsung Must SPAC No.3 in November last year and was listed on KOSDAQ on December 24. At the time of listing, it attracted market attention as a COVID-19 beneficiary company.

Operating its own brands such as Lady Furniture, Idenu, and For the Home, Ohaim plans to continue expanding its online-based interior furniture business.

An Ohaim official stated, "By next year, we will build a 20,000㎡ self-owned logistics center to innovate logistics services, and within the next three years, we plan to add five showrooms for offline experience and expand our business area into the living sector, including interior accessories."

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