Coway Opens '1 Trillion Won Quarterly Sales Era'
Strong Sales of Various Product Lines Including Water Purifiers
Continued Growth of Overseas Subsidiaries
Coway (CEO Seo Jang-won) has entered the 'era of quarterly sales exceeding 1 trillion won.' Strong sales across various product lines, including water purifiers, and continued growth of overseas subsidiaries supported the sales growth.
On the 9th, Coway announced that its sales for the second quarter of this year amounted to 1.0062 trillion won, a 2.9% increase compared to the same period last year. Operating profit was 194.2 billion won, up 10.3% from the same period last year. Coway's sales for the first half of this year reached 1.9545 trillion won, a 2.5% increase compared to the same period last year, approaching the 2 trillion won mark. Operating profit was recorded at 369.8 billion won, a 6.1% increase.
In the second quarter of this year, Coway's domestic environmental home appliance business sales recorded 590.4 billion won, a 2.9% increase compared to the same period last year, driven by strong sales of various product lines including water purifiers, air purifiers, and mattresses. During the same period, overseas subsidiary sales amounted to 378.9 billion won, a 7.0% increase compared to the same period last year. Sales of the Malaysian and U.S. subsidiaries, which led the overseas subsidiary performance, were 285.6 billion won and 61.1 billion won respectively, up 3.9% and 13.7% compared to the same period last year. The continuously growing Thai subsidiary also recorded sales of 24.5 billion won, a 25.7% increase compared to the same period last year.
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Kim Soon-tae, Coway’s Chief Financial Officer (CFO), said, "Despite the challenging market environment, stable performance growth continues due to the impact of ongoing efforts to expand global market share, develop innovative products, and implement strategic marketing." He added, "We will continue to strengthen our domestic and international business competitiveness and achieve sustainable growth centered on the sleep and healing care brand Birex."
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