Able C&C Reports 6 Billion KRW Operating Loss in Q1 Due to Ongoing COVID-19 Impact

[Asia Economy Reporter Lee Seung-jin] Able C&C announced on the 13th that it recorded sales of 66.6 billion KRW, an operating loss of 6 billion KRW, and a net loss of 3.6 billion KRW in the first quarter of this year.

Sales decreased by 20% compared to the same period last year due to the impact of COVID-19, which intensified from March last year. However, operating loss and net loss improved by 51% and 68%, respectively.

The overseas sector showed remarkable progress in the first quarter. The Japan subsidiary recorded sales of 10.3 billion KRW in Q1, setting a new quarterly sales record. This represents a 12% growth compared to the same period last year. Able C&C expects the Japan subsidiary to achieve even better results in the second quarter.

Sales of the Americas subsidiary, established last year, also rose sharply. Sales in the Americas region in Q1 reached 2.3 billion KRW, nearly tripling from 740 million KRW in the same period last year.

Sales in the European region in Q1 were 2.9 billion KRW, showing slight growth compared to 2.7 billion KRW in the same period last year.

On the other hand, Able C&C headquarters' sales were 49.1 billion KRW, down 24% from 64.6 billion KRW in the same period last year. This was due to a decrease in domestic offline sales caused by COVID-19 and offline structural efficiency improvements.

An Able C&C official stated, "This year, we will continue to focus on three areas: expanding overseas markets, growing the online mall 'My Nungkeu,' and improving offline efficiency to enhance performance."

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