Kots Technology, a specialized company in SBC (Single Board Computer)-based defense industry embedded systems, led by CEO Jiwon Cho, announced its Q3 management performance on the 14th through a public disclosure.
According to the results disclosed by Kots Technology (hereinafter referred to as the company), the cumulative sales for the third quarter of 2024 reached 43 billion KRW, marking a 27.05% increase compared to the same period last year. During the same period, operating profit was 5.8 billion KRW, and net profit was 4.9 billion KRW, maintaining solid top-line growth.
Quarterly sales reached 21 billion KRW, up 25.24% year-on-year, with operating profit of 3.5 billion KRW and net profit of 3 billion KRW recorded in the same period.
Regarding the quarterly profit decline, a company official explained, “The slight decrease in quarterly profits was due to increased costs from facility investments and workforce expansion driven by explosive sales growth,” adding, “This is a normal operational situation where investments and personnel were expanded to the necessary level to support the rapidly increasing sales.”
The company’s sales have continuously increased, maintaining a solid growth trend. The growth background includes the first export of the K2 tank to Poland and domestic weapon system mass production orders.
The first export volume of the K2 tank to Poland, equipped with the company’s products, was reflected in this performance following the second quarter, driving strong results. Additionally, the full-scale mass production of domestic weapon system products supported the company’s balanced growth, and strengthening production capabilities to meet diverse defense demands also positively impacted the performance.
The company plans to continue driving sustainable growth by agilely responding to the expected continuous increase in defense orders. It also intends to focus on expanding its business in the civilian sector, where it can apply the technological expertise accumulated in the defense field. In fact, in October, the company announced plans for full-scale civilian business expansion by signing a contract to supply CBI HW for the Thailand railway signaling system with LS ELECTRIC.
CEO Jiwon Cho of Kots Technology stated, “The company has continuously achieved stable top-line growth based on stable business operations and the influence of K-defense, following the previous quarter,” and added, “We will continue to strive to grow both defense and civilian businesses evenly based on the company’s high technological capabilities and mass production capacity.”
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