SEOUL, South Korea,
Aug. 9, 2024 /PRNewswire/ -- Today,
Coway Co., Ltd., the "Best Life Solution Company," announced its
financial results for the second quarter of 2024.
"Coway achieved both external expansion and profitability driven
by strong sales of our key product lines like the ice water
purifiers and BEREX lineup," said Soon Tae
Kim, Coway's Chief Financial Officer. "In the second half of
the year, we aim to strengthen our market leadership through
technological and design innovations, ensuring continued
growth."
Coway's reported earnings are as follows:
- Second quarter revenue: KRW 1,082.3 billion (+7.6%
YoY)
- Second quarter operating profit: KRW 211.2 billion (+8.8%
YoY)
|
* The reported figures
are taken from the consolidated K-IFRS (International Financial
Reporting Standards) statement.
|
Cumulative revenue for 2024 now stands at KRW 2,084.1
billion (+6.6% YoY) with an operating profit of KRW 404.9
billion (+9.5% YoY).
In South Korea, domestic
business generated KRW 655.7 billion
in revenue for the second quarter, making an 11.1% increase
compared to the previous year. This growth is primarily attributed
to the solid rental sales of both BEREX's lineup of mattresses and
massage chairs and the 'Icon Ice Water Purifier'.
Coway's overseas subsidiaries maintained a strong growth
trajectory with revenue of KRW 382.2
billion in the second quarter, with the Malaysia subsidiary contributing KRW 286.9 billion and the Thailand subsidiary attaining KRW 28.7 billion.
For additional details about Coway's financial performance,
please visit the company's Investor Relations page.
About Coway Co., Ltd.
Established in Korea in
1989, Coway, the "Best Life Solution Company," is a leading
environmental home appliances company making people's lives healthy
and comfortable with innovative home appliances such as water
purifiers, air purifiers, bidets, and mattresses. The company's
most recent venture, the BEREX brand, aims to improve sleep
and wellness through cutting-edge mattresses and massage chairs.
Since being founded, Coway has become a leader in the
environmental home appliances industry, with intensive research,
engineering, development, and customer service. The company has
proven dedication to innovation with award-winning products, home
health expertise, unrivaled market share, customer satisfaction,
and brand recognition. Coway continues to innovate by
diversifying product lines and accelerating overseas business in
Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in
Korea. For more information, please visit http://coway.com/
or http://newsroom.coway.com.
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