Bodyfriend Reports 20 Billion KRW Operating Profit in Q1, Surpassing Last Year's Annual Performance
Bodyfriend's sales and operating profit in the first quarter of this year increased significantly compared to the same period last year.
Bodyfriend announced on the 5th that its first-quarter performance this year was tentatively estimated at 106 billion KRW in sales and 20 billion KRW in operating profit (based on separate financial statements). Compared to the same period last year, sales increased by 21% and operating profit by 146%, showing a simultaneous rise in both sales and operating profit. The operating profit exceeded last year's annual performance in just the first quarter.
The main driver of the performance rebound is the ‘Quantum’, ‘Eden’, and ‘Falcon’ series, which belong to the ‘healthcare robot’ product group. The effect of consecutively launching five new healthcare robot products from the second half of last year to the first quarter of this year is now fully manifesting.
Bodyfriend has invested 100 billion KRW in research and development over the past five years to develop the core technology called ‘Robotics Technology’. Bodyfriend is making its overseas market entry visible by signing technology export contracts with more than ten top global massage chair manufacturers. The ‘healthcare robot’ products are expected to play a significant role in Bodyfriend’s performance and growth, including overseas markets, in the future.
Additionally, Bodyfriend is simultaneously pursuing a strategy to rapidly expand new category product lines such as massage sofas and massage beds that reflect lifestyle, as well as the healthcare robot product group, to expand health management infrastructure within the home.
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A Bodyfriend official said, "While all companies in the same industry are experiencing poor performance due to consumer recession, Bodyfriend’s innovative products based on steady R&D investment have been chosen by consumers, leading to a sharp recovery in performance in the first quarter of this year. If the first-quarter trend continues, even more meaningful business results are expected in the second quarter, which is the peak season."
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