Green Plus Turns to Operating Profit in Q3... "Order Backlog Surpasses 70 Billion Won"

Green Plus, a smart farm specialist company, announced on November 11 that it successfully turned to an operating profit on both a separate and consolidated basis in the third quarter. The company’s performance recovery has become clear, driven by increased smart farm sales and improved results from its subsidiary, Green K Farm.

Green Plus recorded third-quarter sales of 27.8 billion won, a 37% increase compared to the same period last year. On a separate basis, sales from the smart farm business division grew by 86% year-on-year as new orders were fully reflected. As a result, the consolidated operating profit, which had been in deficit during the first half of the year, turned positive. The company currently has an order backlog exceeding 70 billion won, which is expected to further strengthen its performance momentum going forward.

In the first half of this year, the private sector led growth. In the second half, orders from local governments surged, expanding the market base. As the ‘rental smart farm’ project targeting young and returning farmers spreads nationwide, Green Plus has secured a series of new local government projects since September.

This trend is emerging as farmers who gained experience through the previous ‘Smart Farm Innovation Valley’ projects become independent. To ease financial burdens, the public sector is expanding with rental smart farms supplied by local governments, while the private market focused on youth entrepreneurship is also rapidly growing. As a result, policy support from the government and local authorities has been strengthened, driving rapid growth in the domestic smart farm market.

A Green Plus representative stated, “We are striving to increase sales based on the continued expansion of public and private sector orders in Korea,” adding, “We will enhance both our technological competitiveness and business efficiency in line with the growth of the smart farm industry.”

Meanwhile, the performance improvement of its subsidiary Green K Farm is also notable. Although the company had been operating at a loss, it began supplying salad products to three major domestic conglomerates starting in November, and is expected to turn a profit in the fourth quarter. The company explained, “Next year, with an expanded client base, the subsidiary’s contribution to profits will increase.”

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