Otek Reports Operating Profit of 9.6 Billion KRW in Q2, Up 156.3% YoY

Otech (CEO Kang Seonghee, Son Namyoung) announced on the 14th that it recorded strong performance in the second quarter of this year, driven by increased demand for energy-efficient and eco-friendly products.

Otech's consolidated sales for the second quarter of this year amounted to 292.7 billion KRW, an 8.9% increase compared to the same period last year, while operating profit on a consolidated basis for the second quarter rose 156.3% year-on-year to 9.6 billion KRW. Net profit turned positive, reaching 6.9 billion KRW.

The company analyzed that Otech Group’s leadership in the domestic energy solutions market and continuous launch of high-efficiency and eco-friendly new products positively influenced the second quarter performance this year. In particular, group affiliates such as Otech, the largest domestic special-purpose vehicle manufacturer, Otech Carrier for heating and cooling solutions, Otech Carrier Refrigeration for cold chain solutions, and Otech Otis Parking System for smart parking solutions also showed growth in performance, driving the group’s sales and operating profit.

Otech successfully developed a negative pressure system applicable to vehicles by collaborating with its affiliate Otech Carrier, utilizing global air conditioning technology. In June, it launched the ‘Otech Staria Negative Pressure Ambulance,’ which can help prevent the spread of infectious diseases. Recognized for its mobility, accessibility, and technology, Otech secured new sales by supplying vehicles to national medical centers and the Armed Forces Medical Command nationwide.

Otech Carrier also expanded its market presence this year by launching the premium air conditioner ‘The Opus.’ ‘The Opus’ uses proprietary AI technology to switch to power-saving mode when no human movement is detected for a certain period, reducing power consumption by up to 71%. By releasing a product that reduces air conditioner power consumption, the company plans to broaden its competitiveness in the market and increase sales.

Otech Carrier Refrigeration led sales growth with increased sales of inverter freezers and inverter showcases that can save up to 49% energy compared to conventional fixed-speed models, the company explained. Featuring high-efficiency inverters, it provides stable temperature control and reduces noise by up to 82% compared to fixed-speed models. Additionally, its size is reduced by 40% compared to existing products, making it easy to install even in narrow spaces.

Otech Otis Parking System stated that it is expanding one-stop comprehensive services for clients seeking solutions to parking problems through its smart parking system, which fundamentally addresses traffic congestion and parking issues.

An Otech Group official said, "Otech Group’s Otech, Otech Carrier, Otech Carrier Refrigeration, and Otech Otis Parking System have focused on strengthening their foundations by launching various new products that integrate next-generation technologies such as AI (artificial intelligence), IoT (Internet of Things), and big data.” He added, “With growing domestic and international interest and demand for energy solutions following carbon neutrality policies, we expect steady performance growth in the second half of the year based on business expansion.”