Dongwon Industries Reports 1Q Operating Profit of 117.3 Billion KRW, Down 18.4% YoY

Dongwon Industrial, the business holding company of Dongwon Group, announced on the 9th that its consolidated sales for the first quarter of this year were tentatively estimated at 2.2642 trillion KRW. This represents a 9.2% increase compared to the same period last year. Operating profit and net profit for the same period were 117.3 billion KRW and 72.5 billion KRW, respectively, marking decreases of 18.4% and 7.4% compared to the previous year.

The sales growth of Dongwon Group was led by Dongwon F&B, an affiliate in the food business sector. Dongwon F&B recorded first-quarter sales of 1.0808 trillion KRW and operating profit of 43.4 billion KRW, reflecting balanced growth across all business areas of its subsidiary Dongwon Home Food, which operates B2B food distribution businesses such as group catering and food ingredient distribution. These figures represent increases of 14% and 34.7% compared to the previous year, respectively.

For Dongwon Industrial’s business division, first-quarter sales and operating profit (on a separate basis) were 279.7 billion KRW and 64 billion KRW, respectively, down 2.6% and 29.3% from the same period last year. This decline reflects a base effect following record-high performance in the first quarter of last year and poor catches in the first quarter.

A Dongwon Group official stated, “Having established new growth momentum through the holding company merger last year, we will further accelerate efforts to improve management efficiency and profitability.”