Dynamic Design, Q1 Sales 19.6 Billion KRW... 62% Increase YoY

Dynamic Design announced on the 8th that it recorded consolidated sales of 19.6 billion KRW and an operating loss of 2.7 billion KRW for the first quarter of this year. This represents an improvement compared to the same period last year, with sales up by 62% and operating profit up by 10%.

Looking into the details, on an individual basis, sales amounted to 11.7 billion KRW, operating loss was 1.7 billion KRW, and net loss was 1.3 billion KRW, showing improvements of 143%, 28%, and 60% respectively compared to the same period last year.

On a consolidated basis, sales were 19.6 billion KRW, operating loss was 2.7 billion KRW, and net loss was 2.2 billion KRW, reflecting improvements of 62%, 10%, and 41% respectively compared to the same period last year.

Dynamic Design stated that the increase in sales was driven by expanded orders from global clients including Bridgestone. Although selling and administrative expenses were reduced as part of efforts to stabilize management, adverse external business conditions such as rising raw material prices due to the Russia-Ukraine war prevented the company from turning a profit.

However, based on continuous management efficiency improvements, the company plans to achieve a performance rebound through investments and management innovation activities in its global subsidiaries starting from the second quarter.

Since last year, Dynamic Design has been improving its financial structure through tightening management by restructuring low-profit and overseas underperforming subsidiaries, adjusting its business portfolio, and implementing innovation activities across all areas including technology and production efficiency improvements and strengthening sales capabilities.

In particular, the program center and production plant of its Indonesian subsidiary, established to improve manufacturing costs in the tire mold business, are scheduled for sequential completion starting this year.

A representative from Dynamic Design said, “Currently, the company is securing financial soundness and expanding orders for tire molds. Based on a mid- to long-term strategy including the new nickel mineral business in Indonesia, we will create a year of sales growth and profitability improvement through efficient business operations.”

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