Kolon Global Reports Q1 Operating Profit of 57.7 Billion KRW, Up 23.3% Year-on-Year

Sales of 1.1305 trillion KRW and net profit of 39.3 billion KRW
Achieved 25.2% of annual new order target

[Asia Economy Reporter Hwang Seoyul] Kolon Global announced on the 4th that its operating profit for the first quarter of this year reached 57.7 billion KRW, a 23.3% increase compared to the same period last year.

During the same period, sales amounted to 1.1305 trillion KRW, and net profit was 39.3 billion KRW. These figures represent increases of 2.5% and 24.1%, respectively, compared to the same period last year.

Kolon Global's new orders in the first quarter totaled 901.1 billion KRW, achieving 25.2% of the annual target. Following the first quarter's new orders, the backlog of orders surpassed 10.3 trillion KRW, marking an all-time high performance.

In the construction sector, sales for the first quarter reached 471.1 billion KRW, with an operating profit of 33.1 billion KRW. Compared to the same quarter last year, sales decreased by 3%, while operating profit increased by 3.4%. Although sales declined due to the completion of some housing sites, profitability improved with an increase in new projects in civil engineering, environment, and plant sectors, as well as favorable progress, resulting in a slight rise in operating profit.

The distribution sector recorded sales of 435 billion KRW and an operating profit of 22.9 billion KRW, representing increases of 14.5% and 97.4%, respectively, compared to the same period last year. The improvement in profitability appears to be due to increased sales of high-priced new cars.

The trading division posted sales of 107.1 billion KRW and an operating profit of 1.2 billion KRW. While sales increased by 2% compared to the same period last year, operating profit fell by 65.7%.

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