Onnuri ENM Posts 69% Sales Growth in Q1... Achieves Success in North American Telecom Infrastructure Market

Onnuri ENM, a KOSDAQ-listed company specializing in antennas in Korea, posted a significant improvement in its performance for the first quarter of this year, driven by expansion into the North American market. Growth in North American telecommunications infrastructure projects and increased demand related to global sporting events were identified as key drivers of this growth.

Onnuri ENM announced that its consolidated sales for the first quarter reached approximately 5.12 billion won. This represents a 69% increase compared to about 3.03 billion won in the same period last year.

Profitability also improved. Operating losses decreased to around 390 million won, down 64% from approximately 1.08 billion won in the same period last year. Net loss for the quarter narrowed significantly to about 1.24 billion won, an 80% reduction from 6.07 billion won in the first quarter of the previous year.

In particular, the expansion of overseas sales drove the improvement in performance. Overseas sales for the first quarter amounted to approximately 2.75 billion won, of which sales in the North American market accounted for about 2.31 billion won, or 84% of total overseas sales.

The main factor behind the improved results was growth in the company’s core antenna business division. The antenna business division alone recorded sales of around 4.19 billion won and operating profit of approximately 560 million won. The company explained that supplying small cell antennas to AT&T, the largest telecommunications operator in North America, and partnering with Crown Castle, a major telecommunications infrastructure provider in the region, to secure the 5G stadium antenna market, contributed to its sales growth.

Onnuri ENM expects the benefits from the North American market to accelerate ahead of the 2026 FIFA World Cup and the 2028 Summer Olympics in Los Angeles. The company stated that, leveraging its antenna technology specialized for environments with large simultaneous connections such as sports stadiums and airports, it has supplied antennas worth a cumulative total of 7.78 million dollars to more than 40 major North American landmarks, including MetLife Stadium, AT&T Stadium, and Crypto.com Arena.

Based on its past experience supplying antennas for the 2018 PyeongChang Winter Olympics and the main stadium of the 2018 FIFA World Cup in Russia, the company plans to actively target the North American market, including more than 350 large stadiums and over 60 hub airports.

A representative from Onnuri ENM stated, “First quarter results reflect the success of supplying small cell antennas to AT&T and the realization of growth potential in the North American venue antenna market. Building on our differentiated technology, we will further strengthen our position in the global telecommunications infrastructure market as we approach the 2026 World Cup and 2028 Olympics.”

Financial soundness also improved. The company explained that financial expenses were reduced by about 80%, from approximately 4.17 billion won in the same period last year to around 850 million won in the first quarter of this year. In addition, equity-method investment results turned from a loss to a profit of about 240 million won.

Onnuri ENM is accelerating its turnaround in performance, buoyed by the expansion of the North American sports infrastructure market and growth in its high value-added antenna business.

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