Woojin, 3Q Cumulative Operating Profit of 15 Billion KRW... "53% Increase YoY"

Precision measuring instrument specialist Woojin announced its third-quarter earnings. The cumulative performance continued its upward trend compared to the previous year, raising expectations for record-breaking results.

On the 13th, Woojin revealed that its cumulative consolidated sales for the third quarter this year reached 92.9 billion KRW, with an operating profit of 15 billion KRW. These figures represent increases of 4% and 53%, respectively, compared to the same period last year. Net profit for the same period was 14.3 billion KRW, maintaining a positive earnings trend.

On a separate basis for the third quarter, cumulative sales were 45.3 billion KRW, and operating profit was 9.2 billion KRW, marking increases of 8% and 70%, respectively, compared to the same period last year. Net profit for the same period was 10 billion KRW.

The solid growth of Woojin Entec, a core subsidiary, stood out again in the third quarter. Woojin Entec's cumulative sales for the third quarter were 30.4 billion KRW, and operating profit was 5.9 billion KRW, up 11% and 43%, respectively, compared to the same period last year. The increase continued as sales related to the Shin Hanul Unit 1 power plant routine maintenance service, newly ordered at the end of last year, were reflected this year.

Woojin Entec is a specialized company performing maintenance services for instrumentation and control equipment at nuclear and thermal power plants. Woojin is the largest shareholder with a 53.2% stake. In August, Woojin Entec submitted an application for preliminary review to list on the KOSDAQ market and is currently undergoing the review process.

A Woojin official stated, “According to industry sources, the government’s ‘11th Basic Plan for Electricity Supply and Demand’ under preparation is considering the construction of up to six new nuclear reactors,” adding, “Since new nuclear power plant construction leads to large-scale sales, we are closely monitoring related developments.”