Kots Technology Achieves 12.9 Billion KRW in Q2 Sales... 35% Increase YoY

Kots Technology (CEO Jiwon Jo), a company specializing in SBC (Single Board Computer)-based defense industry embedded systems, announced its second-quarter business performance on the 14th.

According to the performance disclosed by Kots Technology, sales in the second quarter of this year reached 12.9 billion KRW, a 35% increase compared to the same period last year. Operating profit was 1.2 billion KRW and net profit was 1 billion KRW, growing by 92% and 119% respectively, showing steady performance growth following the first quarter. For the half-year cumulative results, sales reached 22.1 billion KRW, a 29% increase compared to the same period last year, with operating profit of 2.3 billion KRW and net profit of 2 billion KRW, growing by 175% and 233% respectively.

The main factors behind this performance growth include the first export of K2 tanks to Poland and domestic weapon system mass production orders.

A company official explained, “The first export volume of K2 tanks to Poland, which are equipped with our products, was reflected in this half-year performance, leading to strong results. Not only the K2 tanks but also the commencement of full-scale mass production of domestic weapon system products contributed to our balanced growth.”

In June, the company also took steps to expand production facilities to secure increased orders and a stable mass production system. Through this, it has acquired production capacity expanded by more than 30% compared to before, enabling stable mass production and quality improvement of domestic weapon systems. In particular, the dedicated production line for products mounted on the K2 tank, which currently holds a high proportion in the company’s order list, has been completed. The company plans to proceed smoothly with not only the export volume to Poland but also the domestic 4th mass production volume.

Jiwon Jo, CEO of Kots Technology, stated, “The company is continuing its steep growth trajectory by securing continuous growth momentum based on the global spread of K-Defense. Going forward, the company will do its best to carry out various domestic and international projects and to enter a stable growth path.”