DYPNF Reports Operating Profit of 11.9 Billion KRW Last Year... "Turned to Profit with Resumption of Major Projects"

DYPNF, the No.1 powder transfer system specialist company in Korea, announced a disclosure of a 30% change in sales or profit structure last year.

According to the disclosure on the 29th, the company achieved an operating profit of 11.9 billion KRW on a separate basis. Sales recorded 155.3 billion KRW, a 37% increase compared to the previous year, and net profit turned positive to 8.5 billion KRW, marking a significant improvement in performance.

On a consolidated basis, sales were 144 billion KRW, operating profit 8.3 billion KRW, and net profit 6.2 billion KRW.

Along with strong performance, the order backlog is also maintained at an all-time high level. As new project investments in the upstream petrochemical industry have regained momentum, the company exceeded its order targets. Notably, the EPC supply contract for a compound plant worth 156 billion KRW, ordered from Sambak LFT in December last year, is a representative example.

The diversification of order volume from mainly petrochemicals to new growth industries such as secondary batteries, including cathode materials and waste battery recycling, is also positive. This is due to the visible effect of securing specialized technology and references in the secondary battery-related industry, starting with orders for cathode materials and waste batteries from Cosmo Advanced Materials in 2020. The company plans to continue efforts to expand orders from customers related to secondary batteries in the future.

A company official stated, “2023 saw the resumption of projects delayed by the COVID-19 pandemic and the Russia-Ukraine war, and we succeeded in improving performance with the largest scale of orders.” He added, “Based on the resumption of the Baltic project and an additional order of 9 billion KRW from Sambak LFT, which had orders worth 186 billion KRW last year, we expect good performance this year as well.”

He also added, “We will secure continuous growth momentum by acquiring new customers in various upstream industries such as secondary batteries, waste battery recycling, and hydrogen energy, as well as expanding overseas business.”