[Public Notice+] Cape Reports 3Q Cumulative Consolidated Sales of 330.2 Billion KRW... 30% Increase YoY

[Asia Economy Reporter Eunmo Koo] Cape, a specialist company in cylinder liners for ship engines, announced on the 16th through a public disclosure that its cumulative sales on a consolidated basis for the third quarter of this year reached 330.2 billion KRW, marking a 30% growth compared to the same period last year. Operating profit for the same period rose 17% to 17.8 billion KRW, and net profit increased 63% to 9.5 billion KRW.

The company stated that the increase in demand for ship cylinder liners from domestic shipbuilders led to the improvement in performance. According to Clarkson, a UK-based shipbuilding and shipping market analysis firm, Korean shipbuilders secured orders amounting to 720,000 tons, representing 69% of the global order volume, maintaining the world's top position in orders for four consecutive months. The company expects that as the shipbuilding industry rebounds, Cape's order volume will continue to grow steadily.

A Cape representative said, “With signs of a rebound in the shipbuilding industry, such as the accelerated replacement period for eco-friendly ships, demand for cylinder liners, a core engine component, is also increasing. Since cylinder liners are a business that only a few companies worldwide can produce, we will continue to maintain friendly relationships with shipbuilders and increase our order volume.”