Coway, Q1 Sales of 948.3 Billion KRW and Operating Profit of 175.6 Billion KRW

Overseas Subsidiaries Sales Revenue of 336.4 Billion KRW

Coway (CEO Seo Jang-won) announced on the 12th that its sales for the first quarter of this year amounted to 948.3 billion KRW, a 2.2% increase compared to the same period last year. Operating profit rose 1.7% year-on-year to 175.6 billion KRW.

In the first quarter of this year, Coway's domestic environmental home appliance business recorded sales of 580.4 billion KRW, up 3.7% year-on-year, driven by strong sales of water purifiers and Birex brand products, led by smart mattresses.

Overseas subsidiary sales reached 336.4 billion KRW, a 1.2% increase compared to the same period last year. Sales of the Malaysian and Thai subsidiaries, which led the overseas performance, were 268.2 billion KRW and 21.9 billion KRW respectively, up 2.1% and 29.8% year-on-year.

Kim Soon-tae, Coway CFO, said, "Coway recorded stable results in key management indicators such as sales and operating profit in the first quarter of this year. Although the current business environment is challenging due to the global economic downturn, we will do our best to maintain stable management performance based on expanding global market share, continuous launch of innovative products, and strategic marketing efforts."

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