Ceragem Reports Decrease in Operating Profit Last Year but Significant Expansion in Overseas Sales

Overseas Business Grows by 33%

Ceragem announced on the 10th that its operating profit last year was 2.1625 billion KRW, a decrease of 88.6% compared to the previous year.

Ceragem has been conducting aggressive research activities, investing a record-high 22.4 billion KRW in research and development last year. It also became the largest shareholder by investing in the electronic medicine platform company Ybrain. The decline in operating profit is interpreted as being influenced by such bold investments.

Sales have entered a recovery phase, especially with a significant increase in overseas sales. Ceragem's overseas business sales last year recorded 244.8 billion KRW, up 32.7% from the previous year. Sales in the Chinese market grew by 36.4% to 176.7 billion KRW, and growth was also recorded in India, Vietnam, and other markets. The U.S. market rose by 17.9%, continuing an upward trend following strengthened investments in 2022.

This year, Ceragem plans to improve its performance through aggressive investments. It will strengthen the lineup of its core business areas such as Master and Pause, and expand its scope by launching new healthcare appliances in new fields, including avant-garde ultrasonic chairs and depression improvement devices.

Additionally, Ceragem will introduce a space in the Gangdong area of Seoul within this year where various healthcare products will be installed in living rooms, bedrooms, and studies, allowing visitors to experience a "healthy home." The company will also accelerate the expansion of new businesses such as building "Ceragem Wellstown," an urban-type silver town equipped with Ceragem healthcare appliances and platforms, and launching a furniture brand. In the long term, it aims to establish a foundation to realize future homes where healthy living can be enjoyed in living rooms, studies, bedrooms, and other household spaces.

A Ceragem official said, "Despite the challenging business environment last year, we solidified our position as a leading domestic healthcare appliance company thanks to strong overseas performance and increased investments to enter new areas. This year, we expect performance to improve through strengthening the competitiveness of core products and the stable growth of the new '7 Care' products."

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