DawonSys Records Cumulative Sales of 209.2 Billion KRW Last Year

[Asia Economy Reporter Jang Hyowon] Dawonsys announced on the 22nd that it recorded consolidated sales of 209.2 billion KRW last year.

However, an estimated delay penalty of approximately 105.8 billion KRW was deducted from sales in accounting, and operating loss and net loss of 159.3 billion KRW and 151.9 billion KRW respectively occurred due to a provisional fine of 9.3 billion KRW imposed by the Fair Trade Commission in July and the occurrence of raw material price increase adjustments to be settled.

A Dawonsys official stated, “Although last year's settlement ended in a loss, since the estimated delay penalty and the Fair Trade Commission fine are currently undergoing arbitration and administrative litigation, a significant portion can be recovered depending on future results. Also, the increase in raw material costs due to global inflation affected profitability, and compensation through future settlement for price increases under the National Contract Act is expected.”

Meanwhile, Dawonsys announced that it will continue to secure future competitiveness and stable development of its railway business based on a stable order backlog exceeding 1.1 trillion KRW.

A company affiliate said, “In particular, Dawon Medax conducted the country's first clinical phase 1 boron neutron capture therapy (BNCT) for glioblastoma (brain tumor) patients in December last year, and the clinical process is progressing smoothly. The KOSDAQ IPO preparations are also steadily underway, so a greater leap is expected this year.”

They added, “In the high-growth, high value-added semiconductor and OLED markets, our company is developing innovative semiconductor front-end equipment that leading companies have not developed, and we expect large-scale new orders in the future. Following last year's order of approximately 88.8 billion KRW for the extension of Geomdan-Cheongna, this year we secured an additional order worth a total of 322.3 billion KRW for the Yongin Light Rail Transit operation project (our share 238.5 billion KRW), continuously achieving quantitative and performance growth in the railway business. Based on a stable order backlog of about 1.1 trillion KRW this year, we expect a full-scale leap in new businesses and stable development of the railway business.”