Medicox, Sales of 26.9 Billion KRW Up 32.4% YoY... "Expecting Turnaround This Year"

KOSDAQ-listed company Medicox announced on the 20th that following significant sales growth last year, it aims to make this year the first year of turning a profit.

Medicox disclosed on the 20th through a public announcement that its consolidated sales reached 26.9 billion KRW last year, a 32.4% increase compared to the previous year, driven by increased orders in key industries such as shipbuilding equipment. Operating profit rose by 7.49% year-on-year due to improved operating profit margins from reduced production costs.

The company expects to expand sales and achieve profitability this year through investments in the shipbuilding equipment business segment, which has recently become a hot topic, as well as in the secondary battery new business.

Financial soundness is also positive. While liabilities decreased by 27% compared to the previous year due to asset revaluation and the exercise of convertible bond conversion rights, capital increased by 104.63%. Securing liquidity through the sale of subsidiaries is also a favorable factor.

A Medicox representative stated, “Sales increased significantly last year, and this year we will do our best to turn a profit by eliminating various non-performing assets. We will achieve qualitative growth through improved performance in existing key industries as well as entry into high-profitability new businesses.”