'DK Color Vision 2030' Continuation
Opening of German Office and Expansion of Fire Door Sales
Dongkuk Steel Group's cold-rolled steel business company, Dongkuk CM, announced its preliminary results for the first quarter of this year.
On a separate basis, Dongkuk CM recorded sales of 556.5 billion KRW, operating profit of 23.8 billion KRW, and net profit of 21.3 billion KRW in the first quarter. Sales increased by 6.11% compared to the previous quarter, and both operating profit and net profit turned positive.
Dongkuk CM attributed the improvement in performance mainly to securing profitability by implementing a sales strategy focused on high value-added premium color steel sheets for exports and home appliances amid prolonged sluggishness in the steel front industries.
In the first quarter, Dongkuk CM adhered to the 'DK Color Vision 2030' strategy. In the global sector, to strengthen responses to European color steel sheet exports, it opened a liaison office in Frankfurt, Germany in April. In the sustainable growth sector, it is reviewing entry into the metal-based composite materials market and expanding sales of digital printing fire doors as new growth engines.
Dongkuk CM believes that differentiated product development and overseas market expansion are essential for sustainable growth amid uncertainties in the steel market, and plans to increase the proportion of exports and sales of high value-added products such as Luxsteel and Appsteel in the second quarter as well.
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