Approximately 650 Million KRW Increase Compared to the Same Month Last Year
Comprehensive education company Eduwill announced on the 28th that it continues its positive operating profit trend in September, making an annual turnaround highly likely.
Eduwill's operating profit in September increased by approximately 650 million KRW compared to the same month last year, achieving a cumulative operating profit of 4.7 billion KRW this year.
Earlier, Eduwill reached its BEP (Break-Even Point) in the first quarter and recorded an operating profit of 1.8 billion KRW in the first half of the year. This represents a 120% increase in operating profit compared to the previous year. Since then, it has recorded positive operating profits every month up to August.
Eduwill explained that overcoming the crisis caused by external environmental deterioration such as the real estate market slump and the contraction of the civil service exam market over the past two years through cost efficiency and organizational restructuring led to financial improvements, bringing the annual turnaround within sight.
In particular, the industry evaluates that the activation of internal communication, represented by the ‘Town Hall Meeting’ after Chairman Yang Hyung-nam’s return to management, and leadership through personal financial sacrifice played a significant role in improving performance.
Eduwill plans not only to sustain the operating profit turnaround but also to establish a solid foundation for performance growth through business expansion via new ventures.
An Eduwill official stated, "Along with creating an edutech cluster through cooperation with existing IT companies, we are accelerating global business starting with Laos," adding, "With the Minister of Industry and Commerce of Laos visiting Eduwill in person this November, we will take this opportunity to fully launch our global business and open the era of Eduwill 2.0."
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