Coway, 3Q Operating Profit 195.3 Billion KRW... Up 18.3% YoY

Coway Water Purifier Product.

Coway announced on the 8th that it recorded sales of 1.0077 trillion KRW and an operating profit of 195.3 billion KRW in the third quarter of this year. Compared to the same period last year, sales increased by 3.9% and operating profit rose by 18.3%.

Coway's cumulative sales for the third quarter of this year amounted to 2.9621 trillion KRW, up 3% year-on-year, and operating profit was 565.1 billion KRW, up 10%.

In the third quarter, Coway's domestic environmental home appliance business sales increased by 5.2% year-on-year to 601.1 billion KRW. Along with key products such as water purifiers, sales of the Birex product line showed strong performance.

During the same period, Coway's overseas subsidiaries recorded sales of 363.1 billion KRW, an increase of 2.3%. Sales of the U.S. and Thailand subsidiaries were 53.2 billion KRW and 29.9 billion KRW, increasing by 4.9% and 57%, respectively. The Thailand subsidiary turned profitable for the first time.

Kim Soon-tae, Coway's Chief Financial Officer (CFO), said, "The steady growth in performance is due to continuous investment in product research and development (R&D), IT, and marketing, along with the growth of the sleep and healing care brand Birex. We will ensure that the current growth trend continues in the fourth quarter by strengthening product and service competitiveness."

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