TerraScience Secures 50 Billion KRW in Cash with Return to Profitability... "Successful Profitability Improvement"

[Asia Economy Reporter Jang Hyowon] Terascience, a KOSDAQ-listed company, succeeded in strengthening its financial soundness, recording a debt ratio of 35.7% as its net profit surged significantly last year.

Terascience announced on the 23rd that its consolidated cumulative sales and operating loss for last year were 22.8 billion KRW and 900 million KRW, respectively. Sales increased by 3.7% compared to the same period last year, and operating loss was significantly reduced. Net profit turned positive to 28.7 billion KRW during the same period.

Standalone performance also improved. Last year’s sales amounted to 22.4 billion KRW, up 2.3% from the previous year. Operating profit and net profit recorded 880 million KRW and 21.1 billion KRW, respectively, successfully turning to profitability during the same period.

The company stated that the overall balanced growth across business sectors, including the core fitting and hydraulic divisions, led to the improved performance.

A Terascience representative said, "Our core fitting and hydraulic divisions, which are part of our main business, are currently operating production plants at full capacity, reflecting an improvement in both export and domestic markets that is showing up as strong performance. Especially, after the end of the Russia-Ukraine war, reconstruction projects are expected to proceed, benefiting the construction and heavy equipment businesses, so we anticipate continued performance improvement."

The company expects that with the global market conditions improving this year, the core business divisions will see significant growth in line with the increasing orders in the upstream heavy equipment industry. Additionally, with cash and cash equivalents amounting to approximately 50 billion KRW, the company plans to actively pursue new business investments to sustain mid- to long-term growth based on solid financial soundness.

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