Suprema Achieves Record First Quarter Sales... Pursuing Diversification Through M&A

[Asia Economy Reporter Hyungsoo Park] Suprema, a global integrated security company, announced on the 29th that its preliminary sales for the first quarter of this year reached 16.54 billion KRW, marking the largest scale ever recorded for a first quarter. This represents a 7.6% increase compared to the same period last year. Operating profit and net profit for the period were 1.04 billion KRW and 2.85 billion KRW respectively, both showing a decrease compared to the same period last year.

Suprema increased its development personnel in the first quarter as an investment to expand its business. Profit declined temporarily due to increased costs caused by a change in the timing of performance bonus payments.

A Suprema official stated, "The growth drivers of existing businesses remain effective, and given the structure where performance is concentrated in the second half of the year, we expect to continue the growth trend this year as well."

Suprema expects to maintain steady sales growth led by business diversification through M&A and its flagship product, BioStation3, which is scheduled for release soon. In the bio-recognition system business sector, domestic civilian and public system integration (SI) projects are rapidly expanding. Suprema’s access control solutions are being utilized across various industrial sectors, aiming to dominate the domestic access security market. Overseas, the focus is on the North American region, which has a large market.

In the bio-recognition solution business sector, the SFM business is expected to gain momentum. Thanks to an increase in market share in the U.S., sales in the first quarter alone rose 28% compared to the same period last year. The sales growth trend is anticipated to gain further momentum as the quarters progress.