Nanobrick, 1Q Operating Profit Turns Positive... Advanced Security Business Results Become Visible

Advanced nano new material specialist company Nanobrick achieved operating profit for the second consecutive quarter.

On the 13th, Nanobrick announced that its consolidated sales for the first quarter of this year reached 3.8 billion KRW, a 358.4% increase compared to the same period last year. Operating profit for the same period turned positive at 300 million KRW. Net profit recorded 2.8 billion KRW due to gains from derivative product evaluations and reduced financial costs.

A company official stated, “The improvement in business performance was mainly due to sales of advanced security products to government agencies in the Middle East in the security business sector,” adding, “Although there are some fluctuations depending on the Middle East situation, continuous deliveries are being made under mid- to long-term supply contracts, and efforts are underway to expand new customers to regions such as Southeast Asia.”

Joo Jae-hyun, CEO of Nanobrick, said, “We are restructuring our business into 'B2G (government and public institutions) advanced security business' and 'electronic paper display business,' simultaneously pursuing stable profitability and future growth,” and added, “We plan to further strengthen profitability in the security business and accelerate business expansion in the new display business through investment attraction.”

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