Barrel "Rides the 'Endemic Wave' to Turn Profitable in Q1"

Operating Profit of 750 Million KRW
Sales of 8.4 Billion KRW... 187% Increase Compared to Last Year
Sales Rise Due to Surge in Demand for Water and Leisure Sports

Watersports brand Barrel announced on the 16th that its consolidated operating profit for the first quarter of this year reached 750 million KRW, marking a turnaround to profitability compared to the same period last year. During the same period, sales increased by 186.8% to 8.4 billion KRW, and net profit turned positive at 2.1 billion KRW.

The company explained that the increase in demand for water and leisure sports-related products due to the transition to an endemic phase of infectious diseases, along with a competitive product lineup and supply volume in response, were key factors in achieving profitability.

It is also analyzed that the rapid structural improvements made after being acquired by The Nature Holdings had an impact. After the acquisition, Barrel focused on stabilizing sales recovery by concentrating on a product lineup centered on core items. As a result, sales in the swim category, including indoor swimwear, increased more than fourfold compared to the same period last year, and sales in the equipment category more than tripled.

A Barrel representative stated, "We expect strong sales to continue in the second and third quarters, which coincide with the main sales seasons and a favorable market environment such as increased domestic and international travel," adding, "This year, we will not only develop a competitive domestic business but also accelerate overseas expansion through collaboration with The Nature Holdings, aiming to grow into a global sports brand."