Woori Technology Achieves Operating Profit Surplus on Separate Basis in First Half 'Nuclear Power Business Booms'

[Asia Economy Reporter Yoo Hyun-seok] Woori Technology recorded an operating profit on a separate basis in the first half of this year, supported by the strong performance of its nuclear power plant (NPP) business.

According to its semi-annual report, Woori Technology announced on the 10th that its separate basis sales in the first half of this year increased by 12.8% to 12.7 billion KRW compared to the same period last year (11.2 billion KRW), and operating profit achieved a surplus of 590 million KRW.

On a consolidated basis, sales rose 25% to 23 billion KRW compared to the same period last year (18.4 billion KRW), while operating loss was recorded at 380 million KRW. This was due to business development costs of its subsidiary ‘CGO’, which operates in the offshore wind power business.

A Woori Technology official stated, “Sales in the core business sector of nuclear power plants steadily increased, and thanks to business diversification such as the railway business, we achieved an operating profit surplus in the first half. We expect the company’s performance to further improve in the second half, not only due to the nuclear power business but also due to solid business results in the defense sector and stable progress in the offshore wind power business.”

In February this year, Woori Technology signed a supply contract worth 3.7 billion KRW with Korea Hydro & Nuclear Power (KHNP) for materials to fully upgrade the alarm system of Hanbit Unit 2. In March, it also signed a delivery contract with KHNP for eight items, including power supply units for the measurement and control department of Kori Unit 3, worth approximately 2.9 billion KRW.

Woori Technology develops and supplies monitoring, alarm, and control systems for nuclear power plants with 100% in-house technology. It succeeded in domesticating the measurement and control equipment (MMIS), a core technology of nuclear power plants, becoming the fourth country in the world to possess this key nuclear power technology.

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