Ray, H1 Sales of 38.6 Billion KRW... "Record Highest Quarterly Performance in Q2"

[Asia Economy Reporter Hyunseok Yoo] Ray recorded sales of 23.7 billion KRW in the second quarter, achieving the highest quarterly performance in its history.

Ray announced on the 5th through a public disclosure that it achieved consolidated sales of 38.6 billion KRW, operating profit of 5.3 billion KRW, and net profit of 3 billion KRW for the first half of this year. Sales and operating profit for the second quarter were 23.7 billion KRW and 4.9 billion KRW, respectively. Sales increased by 204% compared to the previous year, and operating profit turned positive. In particular, it surpassed the previous record quarterly sales of 23 billion KRW set in the fourth quarter of 2019.

Since its establishment in 2004, Ray has grown every year. After launching its digital dental treatment solution in 2017, the average annual growth rate over three years (2017?2019) reached 40%. Last year, performance stagnated due to COVID-19. However, continuous research and development, marketing, and business expansion were carried out. As a result, sales began to recover from the fourth quarter of last year. Ultimately, the company recorded its highest-ever sales in the second quarter of this year. This is described as a very meaningful growth amid a challenging business environment.

Lee Sangcheol, CEO of Ray, said, "Although the business environment was difficult due to COVID-19, I am pleased that all employees did their best to achieve meaningful results. Ray will leverage its world-class products to conduct more aggressive marketing activities and achieve even more remarkable results in the second half of the year."