Yulho Surpasses 3.3 Billion Won Operating Profit Last Year... Sustains Growth for 5 Consecutive Years
Yulho, a specialist in server and storage solutions, has achieved both high growth and profitability for five consecutive years.
According to the Financial Supervisory Service's electronic disclosure system on the 22nd, Yulho recorded consolidated sales of 112.02361 billion KRW last year. This represents a 23.86% increase compared to the 90.43938 billion KRW in sales in 2021.
Operating profit also saw double-digit growth for two consecutive years. Yulho posted an operating profit of 3.36071 billion KRW last year, a 35.57% increase from 2.47895 billion KRW the previous year. This was driven by an increase in new revenue sources as companies shifted to on-premises environments. ‘On-premises’ refers to IT infrastructure such as servers and storage built within a company’s own data center or internal computer room.
A Yulho representative explained, “With the activation of the non-face-to-face economy causing a surge in web and mobile data, the demand for data storage and protection management is increasing, leading to a rapidly growing storage market. We have already begun proactive order-taking activities to meet fintech storage demands from traditional financial institutions, internet banks, and cryptocurrency exchanges.”
One notable aspect in the disclosure is the total equity. Along with the increase in operating profit, total equity has steadily grown. Under Korean International Financial Reporting Standards, it rose from 27.75558 billion KRW in 2020 to 52.05505 billion KRW in 2021, and 57.8641 billion KRW last year.
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The representative added, “This is the result of a gradual expansion strategy based on sound management and maximizing the expertise of existing businesses to intensify market penetration over a long period. We are pursuing business diversification and aggressive new investments to evolve into a comprehensive information technology (IT) solutions company encompassing cloud, security, data analytics, and storage.”
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