Woojin, 1Q Sales Increase 32% YoY... Driving Growth in Nuclear Power Business Division

[Asia Economy Reporter Jang Hyowon] Advanced measurement specialist company Woojin has started its performance growth from the first quarter.

Woojin announced on the 16th that it recorded an operating profit of 400 million KRW on a consolidated basis in the first quarter, turning to a profit compared to the same period last year. Quarterly net profit also turned positive to 3.1 billion KRW, and sales increased by 32% to 25 billion KRW.

On an individual basis, performance also improved compared to the same period last year. Sales grew by 36% to 12.2 billion KRW, operating profit increased by 363% to 1.1 billion KRW, and quarterly net profit turned positive to 4.5 billion KRW.

Woojin is a specialized company in precision measuring instruments used in various industries such as nuclear power generation, steel, and semiconductors. It mainly produces in-core nuclear instrumentation (ICI) for nuclear power plants, automation equipment in the steel sector, CMS, and temperature sensors for semiconductor diffusion furnaces.

In the first quarter, sales growth in the nuclear power and temperature sensor business divisions stood out. In particular, the temperature sensor division recorded sales of 4.6 billion KRW, approximately 84% growth compared to 2.5 billion KRW in the same period last year.

A company official stated, “If the government improves the system to facilitate the continued operation of existing nuclear power plants and resumes construction of Shin Hanul Units 3 and 4, benefits are expected for the nuclear power parts business division. We are also continuously conducting research and development and investment in small modular reactors (SMR), which are expected to become the next-generation nuclear power plants.”