Coway Q2 Operating Profit 211.2 Billion KRW... 8.8% Increase YoY

First Half Sales of 2.0841 Trillion KRW
Operating Profit Recorded at 404.9 Billion KRW

Coway announced on the 9th that its consolidated sales for the second quarter of this year amounted to 1.0823 trillion KRW, a 7.6% increase compared to the same period last year. Operating profit rose 8.8% year-on-year to 211.2 billion KRW.

As a result, cumulative sales for the first half of this year reached 2.0841 trillion KRW, up 6.6% from the same period last year, and operating profit recorded 404.9 billion KRW, an increase of 9.5%.

In the second quarter, Coway's domestic business sales grew 11.1% year-on-year to 655.7 billion KRW, driven by increased rental sales of the ‘Icon Ice Water Purifier’ and the mattress and massage chair product lines of the sleep and healing care brand ‘BEREX’.

Sales of Coway’s overseas subsidiaries in the second quarter amounted to 382.2 billion KRW. The major subsidiaries maintained stable growth, with the Malaysian subsidiary recording sales of 286.9 billion KRW and the Thai subsidiary posting 28.7 billion KRW.

Kim Soon-tae, Coway CFO, said, “Thanks to increased sales in key product lines such as the ice water purifier and BEREX, we achieved both scale expansion and profitability. We plan to strengthen market leadership and continue steady growth in the second half of the year based on technological and design innovation.”