Debt Ratio at 63% and Interest Coverage Ratio at 1.4 Times in Q3 This Year
Spine implant company L&K Biomed announced on the 15th that it recorded sales of 7.1 billion KRW and an operating profit of 140 million KRW in the third quarter based on consolidated financial statements. The company continued its profitable management in the third quarter following the previous quarter.
Based on cumulative third-quarter results, L&K Biomed achieved sales of 22.8 billion KRW and an operating profit of 2.2 billion KRW. Compared to the same period last year, sales increased by 59%, and operating profit turned positive.
Following a paid-in capital increase in the first half of this year and the repayment of convertible bonds (CB), the debt ratio decreased from 389% to 63% on a consolidated basis. On a separate basis, it fell from 84% to 20%, indicating stabilization. The interest coverage ratio improved to 1.4 times, demonstrating better financial ratios.
The company explained that the somewhat sluggish sales performance compared to 8 billion KRW in sales and 1.2 billion KRW in operating profit in the second quarter this year was due to organizational restructuring carried out to prepare for sustainable growth.
A company representative stated, "Going forward, based on a sound financial structure, we will focus on developing various new products and strengthening marketing to increase sales in the fourth quarter," adding, "We will strive to advance medical care in the Republic of Korea and improve patients' quality of life based on our unique technology and product competitiveness in overseas markets."
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