Kiturami Holdings Records 935.2 Billion KRW in Sales Last Year

by Kim Chulhyun

Published 14 Apr.2021 10:41(KST)

Focusing on Enhancing Expertise and Competitiveness of 11 Subsidiaries After Transition to Holding Company Structure

Kiturami Holdings Records 935.2 Billion KRW in Sales Last Year

[Asia Economy Reporter Kim Cheol-hyun] Kiturami Holdings (CEO Song Kyung-seok) announced on the 14th that despite the challenging business environment due to COVID-19 last year, it recorded consolidated sales of 935.2 billion KRW and operating profit of 26.3 billion KRW, thanks to steady performance across its heating, cooling, air conditioning, and energy business sectors.

Kiturami Group simplified its governance structure to enhance management transparency and efficiency, and to solidify the foundation for sustainable growth through responsible management by transitioning to a holding company system in November 2019, establishing Kiturami Holdings. Kiturami Holdings supports the expertise and competitiveness of 11 subsidiaries within the Kiturami Group, including key heating, cooling, air conditioning, and energy affiliates such as ▲Kiturami ▲Kiturami Beomyang Cooling ▲Shinseong Engineering ▲Century ▲Kiturami Energy.

A representative from Kiturami Holdings stated, "We establish future growth strategies for Kiturami Group and support various areas such as performance management, legal affairs, finance, human resources, management support, and public relations to ensure each business company can secure overwhelming technological capabilities and market dominance in their specialized fields," adding, "We will devote all our efforts to help Kiturami Group leap forward as a 'global heating and cooling energy group.'"

Meanwhile, Kiturami has grown into a heating and cooling energy group by expanding its business areas from boilers, which recorded sales of 300 billion KRW in 2001, to cooling, air conditioning, and energy. Last year, the total sales of Kiturami Group’s affiliates reached approximately 1.3 trillion KRW, with operating profit around 70 billion KRW. Facing stagnation in the boiler industry since 2000, Kiturami acquired Kiturami Beomyang Cooling in 2006, Shinseong Engineering in 2008, and Century in 2009 as new growth engines, evolving from a boiler specialist to a group covering heating and cooling. In 2016, it entered the energy supply business through the acquisition of Gangnam City Gas.