VitroSys Turns to Operating Profit in Q1... "Double-Digit Sales Growth"

VitroSys has successfully returned to profitability after three years, signaling the start of a full-fledged improvement in its performance.

On May 15, VitroSys announced that it had posted an operating profit of 53.84 million won on a consolidated basis for the first quarter, marking a turnaround to profitability. During the same period, sales reached approximately 9.2 billion won, representing a growth of about 24.3% compared to the same quarter last year and achieving double-digit growth.

The company also achieved a turnaround on a separate basis. In the first quarter, operating profit and sales on a separate basis were 199.61 million won and 6 billion won, respectively.

This performance growth is attributed to intensive restructuring and cost optimization efforts. Since 2022, VitroSys has been pursuing structural improvements focused on financial stability and profitability to overcome operating losses. In the second half of last year, the company laid the foundation for its second phase of growth through efforts such as business organization restructuring, organizational efficiency, reduction of fixed costs, and strengthening the profitability of its core businesses.

A company representative stated, "As a result of shifting our management focus from expansion to profitability and sustainability, we were able to achieve a meaningful turning point by returning to profitability in the first quarter," adding, "Starting with this achievement, we plan to sequentially implement follow-up strategies to improve our annual performance and restore market trust."

The outlook for this year's performance is also positive. The company has recently secured orders for a telecommunications infrastructure project in Indonesia (total contract value of 15.7 billion won) and an integrated information system project for the SRT railway (total contract value of 16 billion won). The remaining order backlog not yet recognized as revenue amounts to approximately 13.7 billion won and 11.9 billion won, respectively. The company explained that, as these backlogs are expected to contribute stable revenue to future quarterly results, the recovery trend in performance is likely to continue.

VitroSys is currently actively engaged in power, energy, and smart infrastructure solutions businesses not only in Korea but also overseas, including Indonesia. In addition, the company is preparing to enter the Southeast Asian market based on K-beauty by acquiring a stake in the global cosmetics brand company PFD.

A company representative commented, "Regardless of the stock price trend, VitroSys's technological capabilities and growth potential remain valid," and added, "Going forward, we plan to focus on enhancing the company's intrinsic value through R&D investment, strategic partnerships, and the exploration of new businesses."

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