G&Bs Eco Reports Operating Profit of 11.4 Billion KRW in First Half... "Record High Performance"

G&Bs Eco has set a new record for its best performance in the first half of the year.

G&Bs Eco announced on the 9th that its operating profit for the first half reached 11.4 billion KRW. This represents a 60.5% increase compared to the same period last year and accounts for 80% of last year's total operating profit.

Sales and net profit also hit all-time highs again. First-half sales and net profit grew by 69% and 45% year-on-year, reaching 54.8 billion KRW and 9.5 billion KRW, respectively.

The growth trend is also prominent on a quarterly basis. Second-quarter sales increased by 60% year-on-year, surpassing 30 billion KRW for the first time on a quarterly basis. Operating profit and net profit were 6.4 billion KRW and 4.8 billion KRW, respectively, up 50% and 16% compared to the same quarter last year.

Driven by the growth of the global solar power market, strong orders for solar equipment centered on the global big three countries?China, India, and the United States?are analyzed to have led the performance growth. First-half solar equipment sales rose 286% year-on-year to 34.5 billion KRW. The sales proportion also increased to 65%, continuing to expand following the first quarter. In particular, delivery performance centered on leading Indian solar companies such as Adani and Waaree accounted for a large share.

The outlook for the second half is also bright. It is expected that orders for eco-friendly process equipment will expand due to increased investment in front-end industries such as semiconductors as well as solar power. G&Bs Eco is accelerating its global expansion by pioneering new solar markets in India, the United States, and other countries this year. Additionally, as the world's first company to commercialize a zero-wastewater scrubber, demand is expected to increase in advanced manufacturing sites such as semiconductors.

Furthermore, additional corporate value enhancement is anticipated through the energy multiplex business being promoted to secure new growth engines. In June, the company acquired a 350-pyeong gas station in Dasan New Town, Namyangju, and is advancing energy charging infrastructure for electric vehicles as well as a base business for recycling used batteries.

A company official explained, “Thanks to the global strengthening of the carbon-zero policy and the expansion of orders for eco-friendly process equipment centered on solar power, we achieved 82% of last year's sales in just the first half. With the semiconductor industry showing signs of improvement, sales growth of over 40% this year is possible.”

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