DK Lock, Q2 Operating Profit 6 Billion KRW... "Achieved Record High"

DK-Lok announced on the 28th that despite the economic downturn caused by persistent inflation, it achieved its highest-ever performance since its founding, thanks to active sales efforts in the North American and Middle Eastern energy sectors (oil & gas/refining & chemicals/CNG/NGV, etc.).

DK-Lok (CEO No Eun-sik) disclosed that it recorded consolidated sales of 33.1 billion KRW and operating profit of 6 billion KRW in the second quarter of this year. Both sales and operating profit grew by 17% and 86%, respectively, compared to the same period last year. On a separate basis, sales reached 30.4 billion KRW and operating profit 5.5 billion KRW, marking increases of 8% and 58% year-over-year, respectively.

With favorable market conditions in its core business areas such as oil & gas and CNG/NGV, both sales and operating profit hit record highs, serving as a stable cash cow.

Following the first quarter, overseas exports continued to expand, maintaining a double-digit operating profit margin. In particular, the supply of the UAE ADNOC Al Dabbiya oilfield project, which was secured in April last year, further boosted performance.

DK-Lok anticipates a challenging global business environment in the second half of the year due to low global growth and economic recession. However, it plans to focus on growth in natural gas, renewable natural gas (RNG) businesses, and eco-friendly sectors, while pursuing market diversification and proactive risk management to achieve maximum operating profit.

A DK-Lok official stated, “Thanks to strong performance not only in our existing core business areas but also in the process valve sector, we achieved the highest quarterly operating profit in the company’s history. Moving forward, we plan to intensively invest in future-oriented businesses such as eco-friendly energy, hydrogen and RNG commercial mobility, and aerospace & defense to further enhance the company’s value.”

Meanwhile, the company aims to evolve into an ‘infrastructure solutions company’ by 2030 by executing a structural growth strategy through changes in the energy industry paradigm, expansion of the semiconductor industry ecosystem, and dominant growth in the aerospace and defense industries.