SBW Life Sciences Reports Operating Profit of 1.2 Billion KRW in First Half... Returns to Profitability

[Asia Economy Reporter Minji Lee] SBW Life Sciences announced on the 17th that despite the impact of COVID-19 and the raw material supply crisis caused by the Ukraine situation, it succeeded in turning operating profit positive in the first half of this year.

Yesterday, SBW Life Sciences disclosed that as a result of compiling first-half performance, consolidated sales amounted to 27.9 billion KRW, and operating profit recorded 1.2 billion KRW, achieving a turnaround to profitability. Gross profit in the first half increased by 342% compared to the same period last year, and the cost of goods sold ratio decreased by more than 10%.

The ‘Structural Innovation Project,’ which established specialized production bases in Vietnam (optical filters) and Tianjin, China (hall sensors), proved effective. In the optical filter sector, the largest production plant in Vietnam was established, and since June, the product range has expanded to automotive parts including logo lamps and black boxes as new items. In the second half, plans are in place to expand into the mobile sector (Cover Glass). For hall sensors, costs such as logistics and fuel expenses will be reduced through the ‘7 Innovations (manufacturing, quality, productivity, cost, sales, new applications).’

Hong Jin-ui, CEO of SBW Life Sciences, stated, “We plan to continuously lead a stable corporate structure through the harmony of existing and new businesses,” adding, “We will fulfill the role of a ‘leading company’ by producing high-quality products at specialized production bases (Vietnam and China) and securing sales.”