[Asia Economy Reporter Jang Hyowon] Comprehensive building materials company SWY announced on the 14th that its consolidated sales for the third quarter reached 127.3 billion KRW, about 10% higher than the third quarter of last year. A solid upward trend continues due to increased demand for fire-resistant materials following the strengthening of the Fire Safety Act and a surge in demand for deck plates.
The cumulative sales for the third quarter this year reached 395.2 billion KRW, a 33.3% increase compared to last year, marking the highest sales ever. The cumulative operating profit and net profit for the third quarter were 10.2 billion KRW and 12.7 billion KRW, respectively.
Sales of glass wool sandwich panels, a representative non-combustible material, increased by about 68% compared to the same period last year, and sales of deck plates, whose market is expanding, also grew by 58% compared to the same period last year, driving growth.
SWY’s core business is the manufacturing and distribution of sandwich panels. The mandatory use of semi-non-combustible core materials for building exterior materials, which was enforced at the end of last year, has increased demand for fire-resistant sandwich panels, leading to improved performance. On-site, the supply of fire-resistant products is so tight that construction periods are extended due to difficulties in procurement.
A company official explained, “As the only listed company in the industry, SWY has the largest production capacity, ensuring stable raw material supply, and holds numerous new product technologies related to fire-resistant products, thereby strengthening its market dominance.”
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