Cowintech Surpasses 100 Billion KRW in Sales Last Year... "Full-Scale Performance Growth"

[Asia Economy Reporter Ji-hwan Park] KowinTech has entered a full-scale performance growth trajectory last year, supported by securing large-scale orders.

KowinTech announced on the 28th that its consolidated sales last year reached 106.5 billion KRW, an increase of 134.8% compared to the previous year. Operating profit was 6.7 billion KRW, up 958.6% year-on-year. Net profit for the period increased by 236.8% to 8.6 billion KRW.

The company analyzed that the growth in performance was driven by the expansion of orders from domestic and overseas battery clients alongside the growth of the secondary battery industry, which is the upstream market. In particular, the addition of profits and losses from the subsidiary (Top Material), invested in 2021 to expand business areas, contributed to a significant increase in sales and profits.

The company also attributed its continued growth to securing new global clients through turnkey supply sales in consortium with secondary battery process equipment companies.

A KowinTech representative stated, "With the growth of the secondary battery industry and ongoing large-scale investments by secondary battery manufacturers, we plan to expand large-scale orders this year based on our competitiveness in turnkey supply of automation systems for pre- and post-processes of secondary batteries."

He added, "KowinTech’s consolidated order backlog carried over from last year amounts to approximately 120 billion KRW, and with continuous efforts to reduce costs, operating profit margins are improving, so we expect even greater performance growth this year."

KowinTech is strengthening its position in the secondary battery market by preparing new growth engines through secondary battery material businesses such as cathode materials and electrode production, as well as process automation systems with technological competitiveness in the secondary battery equipment industry.

Researcher Joo-won Ahn of Yuanta Securities analyzed, "With increased investments from major domestic and international clients and expanded orders for KowinTech’s overseas clients, significant performance growth is expected in 2022. KowinTech is a company that has a full lineup of secondary battery products from materials to equipment, and the future expansion of Top Material’s material sales also presents a differentiated investment point."

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