Hurim A-Tech, Six Consecutive Quarters of Profit... "10% Improvement in Debt Ratio Compared to Previous Year"

Hurim ATEC announced on the 16th that it recorded a cumulative operating profit of 2.2 billion KRW, an increase of 75.99% compared to the same period last year, up to the third quarter of this year. On a quarterly basis, it also recorded an operating profit of 600 million KRW, successfully maintaining a profit for six consecutive quarters since the management change in May last year.

During the same period, cumulative sales for the third quarter increased by 24.10% to 38.2 billion KRW, and net profit was 4.3 billion KRW, maintaining profitability.

The strong profit performance of Hurim ATEC in the third quarter is the result of focusing on maintaining a stable business operation flow by enhancing production efficiency in the existing automotive interior development and production sectors.

In particular, compared to the third quarter of last year when Hurim ATEC announced its performance for the first time after the acquisition, sales increased by about 7.4 billion KRW, operating profit increased by more than 900 million KRW, and by focusing on improving the financial structure, the debt ratio during the same period was reduced by 10% from about 32% to 22%.

A Hurim ATEC official said, “Since the management change, normalizing the core business and improving the financial structure have been our top priorities, and all employees are making efforts toward this goal. Having recently completed the acquisition of the Asan plant to realize more stable business operations, we will do our best to achieve even better results in the future.”

Meanwhile, in September, Hurim ATEC’s largest shareholder, Hurim Robot, announced that it would place all shares held under a three-year lock-up for responsible management purposes. The number of shares under lock-up is approximately 40.56%, and Hurim Robot, together with the new management, is leading efforts to achieve solid management and enhance corporate value at Hurim ATEC.

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