Paratech Achieves 210 Billion KRW in Sales Last Year... Highest Record Since 2017

Fire safety specialist Paratech announced on the 2nd through a disclosure of 'sales or profit structure change of 30% or more' that its standalone sales last year reached 212.3 billion KRW, an 88.1% increase compared to 112.8 billion KRW in the same period of the previous year. This is the first time since 2017 that Paratech has achieved sales exceeding 200 billion KRW again.

During the same period, operating profit rose 210.9% from 640 million KRW last year to 1.99 billion KRW, while net profit decreased by 74% to 470 million KRW. The company explained that while maintaining a stable business operation flow in the existing fire safety equipment manufacturing sector, it succeeded in securing large-scale orders consecutively in the fire safety equipment construction sector, resulting in significant sales growth and profit improvement on a standalone basis.

Starting with an order worth 36.7 billion KRW for fire mechanical construction from a major domestic corporation in April last year, Paratech signed a contract for fire mechanical construction worth 14.4 billion KRW for a domestic logistics center in July of the same year, achieving a total large-scale order volume of approximately 50 billion KRW in the fire safety equipment construction business alone. Additionally, the company recently completed factory relocation to enhance management efficiency.

On a consolidated basis, Paratech achieved sales of 214.05 billion KRW last year, an 89.5% increase compared to 112.94 billion KRW in the same period of the previous year. However, due to costs incurred for normalizing the operations of consolidated subsidiaries, the consolidated operating loss was 1.8 billion KRW, and the net loss was 5.23 billion KRW.

Among Paratech’s subsidiaries, Korea General Development recorded an operating loss of 2.6 billion KRW last year, but the company expects performance improvement to accelerate this year as normal production began in February.

A Paratech representative stated, “Since the change of the largest shareholder, the continuous management improvement activities by the new management team, along with positive external factors such as the mandatory separate bidding for fire construction, have influenced the improvement of standalone performance. We will continue to achieve performance improvement on a consolidated basis through ongoing internal management.”