Welbiotech Turns Profitable in Q1... Electric Vehicle Charger Performance Expected to Accelerate

[Asia Economy Reporter Hyungsoo Park] Wellbiotech turned a profit in the first quarter of this year.

Wellbiotech announced on the 13th that it recorded consolidated sales of 62.1 billion KRW and an operating profit of 2.6 billion KRW in the first quarter of this year. Compared to the same period last year, sales increased by 262%, and operating profit turned positive. Net profit for the same period was 3.7 billion KRW.

On a separate basis, first-quarter sales reached 22.2 billion KRW, a 590% increase compared to the same period last year. Operating profit and net profit were 700 million KRW and 2.5 billion KRW, respectively.

The performance improvement was driven by its logistics subsidiary, Roadstar C&A. Roadstar C&A achieved sales of 34.4 billion KRW and an operating profit of 1.7 billion KRW in the first quarter.

A Wellbiotech official said, "Our performance improved compared to last year based on the retail business," adding, "After boldly restructuring loss-making businesses last year, all business divisions are recording high growth this year."

Wellbiotech has actively entered the electric vehicle (EV) charger and cell regeneration material (PDRN) business extracted from salmon germ cells this year. It introduced the EV charger brand called EV Lucy. Permanent exhibition halls were opened at the Seoul headquarters and the Gunsan production plant in Jeonbuk. Sales will be actively conducted from the first half of this year, mainly in the Jeonbuk region.

To enter markets with high future growth potential, Wellbiotech is jointly developing extraction technology for mass production of PDRN with the Department of Marine Life Sciences at Gunsan National University. They are developing products such as cosmetics, health functional foods, and regenerative medicines.

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