Woojin, Q1 Operating Profit 4.7 Billion KRW... 11 Times Increase YoY

Woojine, which achieved record-high performance last year, continues its growth trend this year.

Woojine announced on the 11th that it recorded consolidated sales of 31.7 billion KRW and operating profit of 4.7 billion KRW in the first quarter. This represents an increase of 26.9% and 1072.3%, respectively, compared to the same period last year. Net profit for the same period also rose by 77.9% to 5.4 billion KRW.

Woojine is a specialized company producing measuring instruments used in various industries such as nuclear power plants, steel, and semiconductors. It mainly manufactures in-core nuclear instrumentation (ICI) for nuclear power plants, automation equipment for the steel sector, condition monitoring systems (CMS), and semiconductor temperature sensors.

This first quarter’s growth was driven by increased component supply for the Saeul Nuclear Power Plant Units 3 and 4 (formerly Shin-Kori Units 5 and 6), which are currently under construction, as well as growth from key subsidiaries including Woojin Entech.

A Woojin representative stated, “Unit 3 of Saeul is scheduled for completion in 2024, and Unit 4 in 2025, so sales from new nuclear power plant construction are expected to continue.”

He added, “Along with steady performance growth, our financial condition is becoming healthier. We fully repaid our outstanding borrowings in the first quarter and have entered a debt-free management system.”

Meanwhile, core subsidiary Woojin Entech also maintained its performance growth. Woojin Entech recorded sales of 8.4 billion KRW in the first quarter, a 13.0% increase compared to the same period last year, and an operating profit of 300 million KRW. Woojin Entech is preparing for a KOSDAQ listing within this year.