Dongwon Fisheries to Accelerate Growth Ahead of June Launch of "DW NOVA"... Profitability Improvement Expected

Dongwon Industries operates three trawlers after acquiring DW NOVA (2,342GT). Provided by Dongwon Industries

Dongwon Fisheries is set to enter a full-fledged growth phase in the second half of the year, spearheaded by its new large trawler, the "DW NOVA." Having successfully normalized its performance last year, the company is now expected to strengthen its mid- to long-term growth momentum, supported by a stable fishing foundation and improved profitability.

According to Dongwon Fisheries on May 14, the New Zealand trawler "DW NOVA (2,342GT)" is currently undergoing major facility renovations, including the processing room, at Busan Port. The vessel departed from Denmark in February and arrived at Busan Port, and after all maintenance is completed, it is scheduled to officially set sail in mid-June and begin operations in the second half of the year.

The company explained that deploying DW NOVA means more than simply expanding its fleet. By strengthening trawling capabilities within the existing fleet, Dongwon Fisheries can reduce risks associated with weather changes and fluctuations in fishing grounds, thereby ensuring a stable catch volume.

As a result, the company expects to lower the inherent performance volatility of the fisheries industry and enhance its ability to predict earnings.

Performance improvement effects are also expected to become more pronounced. New revenue generated from DW NOVA will be added to the stable profit structure of existing operations, with related sales starting to be reflected in the company's results from the second half of this year. From next year, once operations stabilize, these results are expected to be fully incorporated into annual performance.

In particular, with fish prices trending upward and the proportion of direct fishing increasing, there are expectations for cost reduction effects, which could drive both sales growth and improved profitability.

Industry insiders view DW NOVA as a core asset that could fundamentally transform Dongwon Fisheries' business performance. This is because it reduces dependence on specific species or fishing grounds and secures long-term operational assets, thereby strengthening the company's fundamentals.

On this basis, there are growing expectations that the company could restore its capacity for shareholder returns, such as dividend expansion, in the future.

A Dongwon Fisheries representative stated, "DW NOVA is not just about increasing vessel size; it is a structural growth asset that will drive future results. With this launch, we aim to evolve into a global seafood company with robust growth momentum built upon a stable profit base."

The deployment of DW NOVA is significant in that Dongwon Fisheries is now actively pursuing stable fishing operations and improved profitability, laying the groundwork for mid- to long-term performance growth and corporate transformation.

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